Cambridge Investment Research Advisors Inc. Acquires 2,902 Shares of American Express (NYSE:AXP)

Cambridge Investment Research Advisors Inc. increased its holdings in American Express (NYSE:AXP) by 4.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 68,329 shares of the payment services company’s stock after buying an additional 2,902 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in American Express were worth $9,472,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in American Express by 0.4% in the first quarter. Vanguard Group Inc. now owns 46,802,171 shares of the payment services company’s stock worth $8,752,006,000 after purchasing an additional 200,093 shares during the last quarter. State Street Corp increased its position in American Express by 0.9% during the fourth quarter. State Street Corp now owns 34,277,797 shares of the payment services company’s stock valued at $5,607,848,000 after acquiring an additional 320,288 shares during the last quarter. Wellington Management Group LLP increased its position in American Express by 1.1% during the first quarter. Wellington Management Group LLP now owns 28,755,839 shares of the payment services company’s stock valued at $5,377,343,000 after acquiring an additional 324,789 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in American Express by 7.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 13,392,391 shares of the payment services company’s stock valued at $2,504,375,000 after acquiring an additional 906,904 shares during the last quarter. Finally, Invesco Ltd. increased its position in American Express by 19.2% during the first quarter. Invesco Ltd. now owns 6,416,785 shares of the payment services company’s stock valued at $1,199,937,000 after acquiring an additional 1,032,350 shares during the last quarter. Institutional investors own 84.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AXP shares. Keefe, Bruyette & Woods cut their price objective on shares of American Express from $220.00 to $201.00 in a research report on Monday, July 11th. Piper Sandler cut their price objective on shares of American Express from $202.00 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 6th. Robert W. Baird upgraded shares of American Express from a “neutral” rating to an “outperform” rating and set a $175.00 price target on the stock in a report on Friday, June 17th. Citigroup upped their price target on shares of American Express from $148.00 to $159.00 in a report on Tuesday, July 26th. Finally, Barclays upped their price target on shares of American Express from $157.00 to $160.00 and gave the stock an “equal weight” rating in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $181.53.

American Express Stock Down 3.8 %

NYSE:AXP opened at $143.03 on Friday. American Express has a 1-year low of $134.12 and a 1-year high of $199.55. The company has a 50-day moving average of $155.04 and a 200 day moving average of $162.17. The firm has a market cap of $107.24 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.25 and a beta of 1.14. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.63 and a quick ratio of 1.63.

American Express (NYSE:AXPGet Rating) last released its quarterly earnings data on Friday, July 22nd. The payment services company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.16. The company had revenue of $13.40 billion during the quarter, compared to analyst estimates of $12.54 billion. American Express had a net margin of 15.69% and a return on equity of 32.81%. The firm’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.80 earnings per share. As a group, research analysts anticipate that American Express will post 9.88 EPS for the current fiscal year.

American Express Profile

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American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

Further Reading

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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