Adviser Investments LLC Grows Position in American Express (AXP)
Adviser Investments LLC lifted its holdings in American Express (NYSE:AXP) by 35.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,683 shares of the payment services company’s stock after acquiring an additional 2,281 shares during the period. Adviser Investments LLC’s holdings in American Express were worth $851,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Guidant Wealth Advisors grew its stake in shares of American Express by 280.7% in the second quarter. Guidant Wealth Advisors now owns 807 shares of the payment services company’s stock valued at $150,000 after acquiring an additional 595 shares in the last quarter. Destination Wealth Management lifted its position in American Express by 165.4% during the second quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock worth $104,000 after purchasing an additional 660 shares during the period. Archford Capital Strategies LLC bought a new stake in American Express during the first quarter worth about $123,000. Private Ocean LLC lifted its position in American Express by 14,070.0% during the first quarter. Private Ocean LLC now owns 1,417 shares of the payment services company’s stock worth $132,000 after purchasing an additional 1,407 shares during the period. Finally, Kiley Juergens Wealth Management LLC bought a new stake in American Express during the second quarter worth about $148,000. Institutional investors and hedge funds own 82.66% of the company’s stock.
Several equities research analysts recently weighed in on AXP shares. Oppenheimer set a $110.00 price objective on shares of American Express and gave the stock a “buy” rating in a research report on Thursday, April 12th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $120.00 price objective (up previously from $115.00) on shares of American Express in a research report on Thursday, April 19th. Buckingham Research upped their price objective on shares of American Express from $110.00 to $111.00 and gave the stock a “neutral” rating in a research report on Thursday, April 19th. Royal Bank of Canada upped their price objective on shares of American Express to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, April 19th. Finally, Guggenheim reaffirmed a “hold” rating and set a $104.00 price objective on shares of American Express in a research report on Thursday, April 19th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $108.83.
American Express opened at $100.92 on Tuesday, MarketBeat.com reports. The stock has a market capitalization of $86.79 billion, a PE ratio of 17.19, a P/E/G ratio of 1.35 and a beta of 1.15. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.92 and a quick ratio of 1.92. American Express has a 12 month low of $83.97 and a 12 month high of $104.24.
American Express (NYSE:AXP) last posted its earnings results on Wednesday, July 18th. The payment services company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.01. The firm had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.05 billion. American Express had a net margin of 9.23% and a return on equity of 30.08%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.47 earnings per share. analysts anticipate that American Express will post 7.27 EPS for the current year.
American Express declared that its Board of Directors has initiated a share repurchase plan on Thursday, June 28th that allows the company to repurchase $3.40 billion in shares. This repurchase authorization allows the payment services company to buy up to 4.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
American Express Company Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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