Bell Asset Management Ltd trimmed its holdings in shares of American Express (NYSE:AXP – Free Report) by 14.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,248 shares of the payment services company’s stock after selling 6,989 shares during the quarter. Bell Asset Management Ltd’s holdings in American Express were worth $6,804,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in AXP. Martingale Asset Management L P raised its stake in shares of American Express by 311.8% in the 1st quarter. Martingale Asset Management L P now owns 167,828 shares of the payment services company’s stock valued at $27,683,000 after acquiring an additional 127,069 shares in the last quarter. MRP Capital Investments LLC lifted its stake in shares of American Express by 49.4% in the first quarter. MRP Capital Investments LLC now owns 1,195 shares of the payment services company’s stock worth $197,000 after buying an additional 395 shares during the last quarter. Ethic Inc. boosted its holdings in shares of American Express by 28.1% during the 1st quarter. Ethic Inc. now owns 52,113 shares of the payment services company’s stock worth $8,596,000 after buying an additional 11,446 shares during the period. Pearl River Capital LLC boosted its holdings in American Express by 8.9% during the first quarter. Pearl River Capital LLC now owns 4,082 shares of the payment services company’s stock valued at $673,000 after acquiring an additional 332 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of American Express by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,084,386 shares of the payment services company’s stock worth $508,742,000 after purchasing an additional 30,443 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.
American Express Trading Down 1.4 %
American Express stock traded down $2.18 during midday trading on Thursday, hitting $157.99. 3,610,036 shares of the stock were exchanged, compared to its average volume of 3,194,983. American Express has a 52 week low of $130.65 and a 52 week high of $182.15. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $116.35 billion, a PE ratio of 16.29, a P/E/G ratio of 1.00 and a beta of 1.19. The company has a fifty day simple moving average of $167.58 and a two-hundred day simple moving average of $165.19.
Wall Street Analysts Forecast Growth
AXP has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $188.00 price target on shares of American Express in a report on Monday, July 24th. Piper Sandler downgraded American Express from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $172.00 to $149.00 in a research report on Monday, July 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $197.00 price target on shares of American Express in a report on Monday, July 24th. 58.com restated a “reiterates” rating on shares of American Express in a research report on Friday, June 30th. Finally, Robert W. Baird cut American Express from an “outperform” rating to a “neutral” rating and set a $185.00 target price for the company. in a research report on Thursday, July 6th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus target price of $172.88.
About American Express
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.
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