Regent Investment Management LLC raised its holdings in shares of American Express (NYSE:AXP) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,046 shares of the payment services company's stock after acquiring an additional 220 shares during the quarter. Regent Investment Management LLC's holdings in American Express were worth $2,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of American Express by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 46,802,171 shares of the payment services company's stock valued at $8,752,006,000 after buying an additional 200,093 shares in the last quarter. State Street Corp lifted its stake in shares of American Express by 0.9% during the 4th quarter. State Street Corp now owns 34,277,797 shares of the payment services company's stock valued at $5,607,848,000 after buying an additional 320,288 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of American Express by 1.1% during the 1st 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 buying an additional 324,789 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of American Express by 7.3% during the 1st 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 buying an additional 906,904 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of American Express by 19.2% during the 1st quarter. Invesco Ltd. now owns 6,416,785 shares of the payment services company's stock valued at $1,199,937,000 after buying an additional 1,032,350 shares in the last quarter. Hedge funds and other institutional investors own 84.10% of the company's stock.
Get American Express alerts:Analyst Ratings Changes
AXP has been the topic of a number of analyst reports. Barclays lifted their target price on shares of American Express from $157.00 to $160.00 and gave the company an "equal weight" rating in a research note on Monday, July 25th. 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. Morgan Stanley lifted their price target on shares of American Express from $143.00 to $155.00 and gave the company an "equal weight" rating in a report on Monday, July 25th. Piper Sandler reduced their price target on shares of American Express from $202.00 to $163.00 and set an "overweight" rating on the stock in a report 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 report on Monday, July 11th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, American Express currently has a consensus rating of "Hold" and a consensus price target of $181.53.
American Express Trading Down 2.5 %
Shares of AXP stock traded down $3.52 during trading hours on Friday, reaching $139.51. 68,811 shares of the stock were exchanged, compared to its average volume of 2,727,213. American Express has a 12-month low of $134.12 and a 12-month high of $199.55. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.74. The company's 50-day moving average price is $155.04 and its 200-day moving average price is $162.17. The firm has a market capitalization of $104.60 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.21 and a beta of 1.14.American Express (NYSE:AXP – Get Rating) last released its quarterly earnings results on Friday, July 22nd. The payment services company reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.41 by $0.16. American Express had a net margin of 15.69% and a return on equity of 32.81%. The firm had revenue of $13.40 billion during the quarter, compared to analysts' expectations of $12.54 billion. During the same period in the previous year, the company earned $2.80 EPS. The firm's revenue for the quarter was up 30.8% compared to the same quarter last year. As a group, equities analysts anticipate that American Express will post 9.88 earnings per share for the current year.
American Express Company 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.
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