American Express (NYSE:AXP) Shares Acquired by Aries Wealth Management

Aries Wealth Management grew its stake in American Express (NYSE:AXP) by 2.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,689 shares of the payment services company’s stock after purchasing an additional 75 shares during the period. Aries Wealth Management’s holdings in American Express were worth $854,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in AXP. Scarborough Advisors LLC acquired a new position in shares of American Express during the 4th quarter valued at about $25,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of American Express in the 4th quarter valued at approximately $28,000. Sachetta LLC acquired a new stake in shares of American Express during the 4th quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of American Express during the 4th quarter valued at approximately $29,000. Finally, Game Plan Financial Advisors LLC lifted its holdings in American Express by 62.5% in the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

AXP traded up $3.54 during trading on Friday, hitting $251.30. 1,868,199 shares of the stock were exchanged, compared to its average volume of 2,975,919. The firm has a market capitalization of $180.76 billion, a P/E ratio of 20.70, a PEG ratio of 1.38 and a beta of 1.21. American Express has a 1-year low of $140.91 and a 1-year high of $256.24. The stock has a fifty day moving average price of $239.68 and a two-hundred day moving average price of $231.14. 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 issued its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. During the same quarter in the previous year, the firm posted $2.89 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, sell-side analysts predict that American Express will post 13.24 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on AXP shares. Bank of America cut American Express from a “buy” rating to a “neutral” rating and set a $263.00 target price for the company. in a research note on Wednesday. Royal Bank of Canada upped their target price on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Wells Fargo & Company lifted their price target on shares of American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Jefferies Financial Group increased their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Finally, Monness Crespi & Hardt boosted their target price on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, American Express has an average rating of “Hold” and a consensus price target of $230.70.

American Express Company Profile

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.