Symphony Financial Ltd. Co. Buys 177 Shares of American Express (NYSE:AXP)

Symphony Financial Ltd. Co. raised its stake in American Express (NYSE:AXP) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,867 shares of the payment services company’s stock after purchasing an additional 177 shares during the period. Symphony Financial Ltd. Co.’s holdings in American Express were worth $1,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Keel Point LLC increased its position in shares of American Express by 16.2% during the second quarter. Keel Point LLC now owns 1,625 shares of the payment services company’s stock worth $283,000 after acquiring an additional 226 shares in the last quarter. Herbst Group LLC increased its position in shares of American Express by 0.9% during the second quarter. Herbst Group LLC now owns 11,600 shares of the payment services company’s stock worth $2,021,000 after acquiring an additional 100 shares in the last quarter. Matthew Goff Investment Advisor LLC increased its position in shares of American Express by 4.7% during the second quarter. Matthew Goff Investment Advisor LLC now owns 59,241 shares of the payment services company’s stock worth $10,317,000 after acquiring an additional 2,660 shares in the last quarter. Windsor Group LTD increased its position in shares of American Express by 12.0% during the second quarter. Windsor Group LTD now owns 1,781 shares of the payment services company’s stock worth $310,000 after acquiring an additional 191 shares in the last quarter. Finally, Berkshire Bank increased its position in shares of American Express by 0.9% during the second quarter. Berkshire Bank now owns 9,446 shares of the payment services company’s stock worth $1,645,000 after acquiring an additional 81 shares in the last quarter. 83.08% of the stock is owned by institutional investors.

American Express Stock Performance

Shares of AXP stock traded down $0.84 during trading on Tuesday, reaching $158.79. 592,474 shares of the company’s stock traded hands, compared to its average volume of 3,179,375. The company has a market capitalization of $116.94 billion, a P/E ratio of 16.24, a PEG ratio of 1.03 and a beta of 1.19. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.75. The firm’s 50-day moving average is $164.69 and its 200 day moving average is $163.63. American Express has a 1 year low of $130.65 and a 1 year high of $182.15.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 21st. The payment services company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.08. The company had revenue of $15.05 billion for the quarter, compared to analysts’ expectations of $15.41 billion. American Express had a net margin of 12.99% and a return on equity of 29.26%. American Express’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.57 EPS. Equities research analysts expect that American Express will post 11.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Stephens reissued an “underweight” rating and set a $146.00 target price on shares of American Express in a research report on Tuesday, July 18th. Piper Sandler cut shares of American Express from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $172.00 to $149.00 in a report on Monday, July 24th. Morgan Stanley restated an “overweight” rating and set a $188.00 price target on shares of American Express in a report on Monday, July 24th. Bank of America cut their price target on shares of American Express from $205.00 to $203.00 and set a “buy” rating on the stock in a report on Monday, July 24th. Finally, 22nd Century Group restated a “reiterates” rating on shares of American Express in a report on Friday, June 30th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $173.06.

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.