Berkshire Bank Grows Stake in American Express (NYSE:AXP)

Berkshire Bank increased its holdings in shares of American Express (NYSE:AXP) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,446 shares of the payment services company’s stock after purchasing an additional 81 shares during the quarter. Berkshire Bank’s holdings in American Express were worth $1,645,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Sheets Smith Wealth Management purchased a new stake in shares of American Express during the first quarter worth about $448,000. Chelsea Counsel Co. purchased a new position in American Express during the 4th quarter valued at approximately $30,000. Steward Financial Group LLC grew its holdings in American Express by 104.9% during the 1st quarter. Steward Financial Group LLC now owns 211 shares of the payment services company’s stock valued at $34,000 after buying an additional 108 shares in the last quarter. Focused Wealth Management Inc grew its holdings in American Express by 1,400.0% during the 1st quarter. Focused Wealth Management Inc now owns 225 shares of the payment services company’s stock valued at $37,000 after buying an additional 210 shares in the last quarter. Finally, Addison Advisors LLC grew its holdings in American Express by 44.8% during the 1st quarter. Addison Advisors LLC now owns 239 shares of the payment services company’s stock valued at $39,000 after buying an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 83.08% of the company’s stock.

American Express Price Performance

Shares of AXP stock opened at $159.63 on Tuesday. American Express has a twelve month low of $130.65 and a twelve month high of $182.15. The stock has a market capitalization of $117.56 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 1.03 and a beta of 1.19. The stock has a fifty day simple moving average of $164.69 and a two-hundred day simple moving average of $163.63. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.75.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 21st. The payment services company reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.08. American Express had a return on equity of 29.26% and a net margin of 12.99%. The business had revenue of $15.05 billion during the quarter, compared to analysts’ expectations of $15.41 billion. During the same period in the prior year, the business earned $2.57 EPS. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, analysts predict that American Express will post 11.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AXP. Bank of America cut their price target on American Express from $205.00 to $203.00 and set a “buy” rating for the company in a report on Monday, July 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $188.00 price objective on shares of American Express in a research note on Monday, July 24th. Stephens reaffirmed an “underweight” rating and issued a $146.00 price objective on shares of American Express in a research note on Tuesday, July 18th. Robert W. Baird lowered American Express from an “outperform” rating to a “neutral” rating and set a $185.00 price objective for the company. in a research note on Thursday, July 6th. Finally, 3M reaffirmed a “reiterates” rating on shares of American Express in a research note on Friday, June 30th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, American Express has a consensus rating of “Hold” and an average target price of $173.06.

American Express Company Profile

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.