Monetta Financial Services Inc. Acquires Shares of 4,000 American Express (NYSE:AXP)

Monetta Financial Services Inc. acquired a new stake in American Express (NYSE:AXP) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,000 shares of the payment services company’s stock, valued at approximately $748,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBK Financial Inc. purchased a new position in shares of American Express during the 4th quarter worth $25,000. Tyler Stone Wealth Management purchased a new position in shares of American Express during the 4th quarter worth $25,000. Blue Bell Private Wealth Management LLC raised its holdings in shares of American Express by 873.3% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 146 shares of the payment services company’s stock worth $27,000 after acquiring an additional 131 shares during the period. Perkins Coie Trust Co purchased a new position in shares of American Express during the 1st quarter worth $28,000. Finally, Rise Advisors LLC raised its holdings in shares of American Express by 823.5% during the 1st quarter. Rise Advisors LLC now owns 157 shares of the payment services company’s stock worth $29,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 85.49% of the company’s stock.

Insider Activity

In other news, Director Theodore Leonsis sold 4,005 shares of the company’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $166.63, for a total value of $667,353.15. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Oppenheimer set a $184.00 price objective on American Express in a research report on Tuesday, July 19th. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and set a $200.00 price objective for the company. in a research report on Monday, April 11th. Piper Sandler cut their price objective on American Express from $202.00 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Citigroup raised their price objective on American Express from $148.00 to $159.00 in a research report on Tuesday, July 26th. Finally, Wolfe Research downgraded American Express from an “outperform” rating to a “peer perform” rating and cut their price objective for the stock from $213.00 to $146.00 in a research report on Thursday, May 12th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $181.53.

American Express Stock Performance

NYSE AXP traded up $0.64 on Friday, reaching $157.51. The stock had a trading volume of 2,513,764 shares, compared to its average volume of 3,709,885. The stock has a market cap of $118.09 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 1.22 and a beta of 1.15. 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 business’s 50-day moving average price is $149.59 and its 200 day moving average price is $168.36. American Express has a 12-month low of $134.12 and a 12-month high of $199.55.

American Express (NYSE:AXP – Get Rating) last announced its quarterly earnings data on Friday, July 22nd. The payment services company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.16. The firm had revenue of $13.40 billion for the quarter, compared to analyst estimates of $12.54 billion. American Express had a return on equity of 32.81% and a net margin of 15.69%. American Express’s quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.80 earnings per share. As a group, equities analysts expect that American Express will post 9.74 earnings per share for the current year.

American Express 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.