PFG Advisors grew its position in American Express (NYSE:AXP – Get Rating) by 32.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,938 shares of the payment services company's stock after buying an additional 1,222 shares during the period. PFG Advisors' holdings in American Express were worth $685,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Blue Bell Private Wealth Management LLC raised its holdings in American Express by 873.3% in the first quarter. Blue Bell Private Wealth Management LLC now owns 146 shares of the payment services company's stock worth $27,000 after buying an additional 131 shares during the last quarter. SBK Financial Inc. purchased a new position in American Express in the fourth quarter worth about $25,000. Perkins Coie Trust Co purchased a new position in American Express in the first quarter worth about $28,000. Tyler Stone Wealth Management purchased a new position in American Express in the fourth quarter worth about $25,000. Finally, Rise Advisors LLC grew its stake in shares of American Express by 823.5% in the first quarter. Rise Advisors LLC now owns 157 shares of the payment services company's stock worth $29,000 after acquiring an additional 140 shares during the period. 84.10% of the stock is owned by hedge funds and other institutional investors.
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American Express Stock Performance
AXP opened at $143.03 on Friday. The firm has a market cap of $107.24 billion, a P/E ratio of 14.67, a PEG ratio of 1.25 and a beta of 1.14. American Express has a 1-year low of $134.12 and a 1-year high of $199.55. The company has a 50 day simple moving average of $155.04 and a two-hundred day simple moving average of $162.17. 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:AXP – Get Rating) last posted its quarterly earnings results 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 business 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 company's revenue was up 30.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.80 earnings per share. Equities analysts forecast that American Express will post 9.88 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have recently commented on AXP. Edward Jones upgraded shares of American Express from a "hold" rating to a "buy" rating in a research note on Monday, June 6th. Morgan Stanley lifted their price target on shares of American Express from $143.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Monday, July 25th. Oppenheimer set a $184.00 price target on shares of American Express in a research note on Tuesday, July 19th. Piper Sandler reduced their price target on shares of American Express from $202.00 to $163.00 and set an "overweight" rating for the company in a research note on Wednesday, July 6th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of American Express from $220.00 to $201.00 in a research note on Monday, July 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $181.53.
About American Express
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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.
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