Y.D. More Investments Ltd reduced its position in American Express (NYSE:AXP) by 2.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,123 shares of the payment services company’s stock after selling 71 shares during the period. Y.D. More Investments Ltd’s holdings in American Express were worth $544,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. Chelsea Counsel Co. purchased a new position in shares of American Express in the 4th quarter valued at approximately $30,000. Steward Financial Group LLC lifted its stake in shares of American Express by 104.9% in the 1st quarter. Steward Financial Group LLC now owns 211 shares of the payment services company’s stock worth $34,000 after acquiring an additional 108 shares during the period. Lakewood Asset Management LLC purchased a new stake in shares of American Express in the fourth quarter valued at about $37,000. Focused Wealth Management Inc raised its holdings in American Express by 1,400.0% during the first quarter. Focused Wealth Management Inc now owns 225 shares of the payment services company’s stock worth $37,000 after purchasing an additional 210 shares in the last quarter. Finally, Addison Advisors LLC boosted its holdings in American Express by 44.8% in the 1st quarter. Addison Advisors LLC now owns 239 shares of the payment services company’s stock valued at $39,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.
Analysts Set New Price Targets
AXP has been the topic of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $188.00 price objective on shares of American Express in a report on Monday, July 24th. Oppenheimer boosted their price objective on shares of American Express from $180.00 to $193.00 and gave the stock an “outperform” rating in a report on Tuesday, July 18th. 3M reaffirmed a “reiterates” rating on shares of American Express in a report on Friday, June 30th. Bank of America lowered their price target on American Express from $205.00 to $203.00 and set a “buy” rating on the stock in a report on Monday, July 24th. Finally, Robert W. Baird cut American Express from an “outperform” rating to a “neutral” rating and set a $185.00 price objective for the company. in a report on Thursday, July 6th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $173.06.
American Express Trading Down 1.6 %
NYSE AXP traded down $2.64 during trading hours on Monday, hitting $161.11. 331,833 shares of the company’s stock were exchanged, compared to its average volume of 3,181,812. The business’s 50 day moving average is $164.69 and its 200-day moving average is $163.63. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.59 and a current ratio of 1.59. American Express has a 12-month low of $130.65 and a 12-month high of $182.15. The firm has a market capitalization of $118.65 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 1.00 and a beta of 1.19.
American Express (NYSE:AXP – Get Free Report) last announced its quarterly earnings data on Friday, July 21st. The payment services company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.08. American Express had a net margin of 12.99% and a return on equity of 29.26%. The business had revenue of $15.05 billion for the quarter, compared to analyst estimates of $15.41 billion. During the same period in the prior year, the firm posted $2.57 EPS. The company’s revenue was up 12.4% on a year-over-year basis. As a group, analysts anticipate that American Express will post 11.13 EPS for the current fiscal year.
American Express Company Profile
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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