&Partners Boosts Holdings in American Express (NYSE:AXP)

&Partners increased its stake in shares of American Express (NYSE:AXP) by 37.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,922 shares of the payment services company’s stock after purchasing an additional 4,648 shares during the period. &Partners’ holdings in American Express were worth $3,918,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Sawgrass Asset Management LLC lifted its holdings in shares of American Express by 0.4% during the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after purchasing an additional 41 shares during the period. Spire Wealth Management boosted its holdings in shares of American Express by 1.0% in the first quarter. Spire Wealth Management now owns 4,315 shares of the payment services company’s stock valued at $983,000 after acquiring an additional 42 shares in the last quarter. Ignite Planners LLC increased its stake in shares of American Express by 0.9% during the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock worth $1,103,000 after acquiring an additional 43 shares during the period. Willner & Heller LLC raised its holdings in American Express by 4.1% during the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock worth $252,000 after purchasing an additional 43 shares in the last quarter. Finally, Parisi Gray Wealth Management lifted its position in American Express by 0.7% in the second quarter. Parisi Gray Wealth Management now owns 6,351 shares of the payment services company’s stock valued at $1,471,000 after purchasing an additional 46 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Trading Up 1.2 %

Shares of NYSE:AXP traded up $2.97 during midday trading on Friday, reaching $250.73. The company’s stock had a trading volume of 380,642 shares, compared to its average volume of 2,966,798. The firm has a market cap of $180.35 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 1.38 and a beta of 1.21. The business has a 50 day moving average price of $239.15 and a 200 day moving average price of $230.65. American Express has a 1 year low of $140.91 and a 1 year high of $256.24. 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, 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 company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. During the same quarter in the previous year, the business earned $2.89 EPS. The firm’s revenue was up 9.2% on a year-over-year basis. Research analysts forecast that American Express will post 13.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AXP shares. Wells Fargo & Company increased their target price on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Compass Point initiated coverage on shares of American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Robert W. Baird increased their target price on shares of American Express from $190.00 to $205.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. Finally, Citigroup initiated coverage on American Express in a research note on Monday, June 10th. They set a “neutral” rating and a $250.00 price target on the stock. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $230.70.

American Express 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.