Mission Wealth Management LP cut its stake in American Express (NYSE:AXP) by 3.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,947 shares of the payment services company’s stock after selling 176 shares during the quarter. Mission Wealth Management LP’s holdings in American Express were worth $817,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Fisher Asset Management LLC raised its position in American Express by 1.2% in the second quarter. Fisher Asset Management LLC now owns 15,370,083 shares of the payment services company’s stock valued at $2,539,599,000 after purchasing an additional 185,909 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of American Express by 2.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,961,484 shares of the payment services company’s stock worth $1,833,273,000 after acquiring an additional 296,189 shares during the last quarter. Geode Capital Management LLC increased its position in shares of American Express by 2.1% during the first quarter. Geode Capital Management LLC now owns 9,454,238 shares of the payment services company’s stock worth $1,332,930,000 after acquiring an additional 194,116 shares during the last quarter. Morgan Stanley increased its position in shares of American Express by 6.3% during the first quarter. Morgan Stanley now owns 9,294,095 shares of the payment services company’s stock worth $1,314,558,000 after acquiring an additional 553,665 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in shares of American Express by 9.4% during the first quarter. Artisan Partners Limited Partnership now owns 5,855,179 shares of the payment services company’s stock worth $828,157,000 after acquiring an additional 504,547 shares during the last quarter. 84.62% of the stock is currently owned by institutional investors.
A number of research firms recently commented on AXP. Seaport Global Securities began coverage on American Express in a research note on Monday, August 30th. They issued a “neutral” rating for the company. Barclays lifted their target price on American Express from $155.00 to $166.00 and gave the company an “equal weight” rating in a research note on Monday, July 26th. Wells Fargo & Company lifted their target price on American Express from $185.00 to $200.00 and gave the company an “overweight” rating in a research note on Monday, July 12th. JPMorgan Chase & Co. restated a “buy” rating and issued a $160.00 target price on shares of American Express in a research note on Monday, June 7th. Finally, Stephens restated an “equal weight” rating and issued a $173.00 target price (up from $158.00) on shares of American Express in a research note on Monday, July 26th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $167.72.
Shares of NYSE:AXP opened at $163.11 on Friday. The stock has a market cap of $129.58 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 0.90 and a beta of 1.28. American Express has a 12 month low of $89.11 and a 12 month high of $179.67. The stock’s 50 day moving average price is $166.46 and its 200 day moving average price is $158.35. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.58 and a quick ratio of 1.58.
American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, July 22nd. The payment services company reported $2.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $1.16. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.59 billion. American Express had a return on equity of 26.15% and a net margin of 18.72%. The firm’s revenue was up 33.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share. On average, sell-side analysts expect that American Express will post 8.82 EPS for the current year.
American Express Company Profile
American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services, and Corporate and Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.
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