Regent Investment Management LLC Boosts Holdings in American Express (NYSE:AXP)

Regent Investment Management LLC raised its stake in shares of American Express (NYSE:AXP) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,046 shares of the payment services company’s stock after purchasing an additional 220 shares during the period. Regent Investment Management LLC’s holdings in American Express were worth $2,363,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. SBK Financial Inc. acquired a new stake in shares of American Express in the fourth quarter valued at about $25,000. Tyler Stone Wealth Management acquired a new stake in shares of American Express in the fourth quarter valued at about $25,000. Blue Bell Private Wealth Management LLC raised its position in shares of American Express by 873.3% in the first quarter. Blue Bell Private Wealth Management LLC now owns 146 shares of the payment services company’s stock valued at $27,000 after buying an additional 131 shares during the last quarter. Perkins Coie Trust Co acquired a new stake in shares of American Express in the first quarter valued at about $28,000. Finally, Rise Advisors LLC raised its position in shares of American Express by 823.5% in the first quarter. Rise Advisors LLC now owns 157 shares of the payment services company’s stock valued at $29,000 after buying an additional 140 shares during the last quarter. 84.10% of the stock is owned by hedge funds and other institutional investors.

American Express Trading Down 2.5 %

Shares of AXP traded down $3.52 during trading hours on Friday, hitting $139.51. The stock had a trading volume of 68,811 shares, compared to its average volume of 2,727,213. The firm has a market cap of $104.60 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.21 and a beta of 1.14. American Express has a 12-month low of $134.12 and a 12-month high of $199.55. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.63 and a current ratio of 1.63. The company’s fifty day simple moving average is $155.04 and its 200 day simple moving average is $162.17.

American Express (NYSE:AXPGet Rating) last announced its quarterly earnings results on Friday, July 22nd. The payment services company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.16. The firm had revenue of $13.40 billion for the quarter, compared to analysts’ expectations of $12.54 billion. American Express had a net margin of 15.69% and a return on equity of 32.81%. American Express’s revenue was up 30.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.80 earnings per share. Equities research analysts forecast that American Express will post 9.88 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Oppenheimer set a $184.00 target price on shares of American Express in a research report on Tuesday, July 19th. Keefe, Bruyette & Woods dropped their price target on shares of American Express from $220.00 to $201.00 in a research report on Monday, July 11th. Piper Sandler lowered their price objective on shares of American Express from $202.00 to $163.00 and set an “overweight” rating for the company in a research note on Wednesday, July 6th. Robert W. Baird raised shares of American Express from a “neutral” rating to an “outperform” rating and set a $175.00 price objective for the company in a research note on Friday, June 17th. Finally, Barclays lifted their price target on shares of American Express from $157.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, July 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $181.53.

American Express Company Profile

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American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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