Stokes Capital Advisors LLC Has $7.69 Million Position in American Express (NYSE:AXP)

Stokes Capital Advisors LLC raised its stake in American Express (NYSE:AXP) by 8.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 33,203 shares of the payment services company’s stock after acquiring an additional 2,611 shares during the period. American Express comprises about 2.1% of Stokes Capital Advisors LLC’s investment portfolio, making the stock its 17th largest position. Stokes Capital Advisors LLC’s holdings in American Express were worth $7,688,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in American Express during the 4th quarter worth about $1,112,747,000. Alphinity Investment Management Pty Ltd acquired a new position in shares of American Express during the 1st quarter valued at $433,709,000. TD Asset Management Inc grew its holdings in American Express by 62.1% in the fourth quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after purchasing an additional 919,337 shares during the period. Charles Schwab Investment Management Inc. increased its stake in American Express by 21.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock valued at $713,202,000 after purchasing an additional 667,695 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in American Express by 8.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after buying an additional 662,382 shares during the period. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

NYSE:AXP traded up $2.21 on Friday, reaching $251.71. 2,149,718 shares of the company’s stock traded hands, compared to its average volume of 3,002,593. The stock has a 50-day simple moving average of $237.19 and a 200-day simple moving average of $229.73. American Express has a 12 month low of $140.91 and a 12 month high of $256.24. The firm has a market cap of $181.06 billion, a PE ratio of 20.73, a P/E/G ratio of 1.38 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The company had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.89 EPS. Equities research analysts forecast that American Express will post 13.24 earnings per share for the current year.

Analysts Set New Price Targets

AXP has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Jefferies Financial Group increased their price target on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. Evercore ISI lifted their price objective on shares of American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a report on Wednesday, April 24th. Monness Crespi & Hardt lifted their target price on shares of American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Barclays raised their price objective on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $230.70.

About American Express

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.