SP Asset Management Has $6.30 Million Position in American Express (NYSE:AXP)

SP Asset Management raised its holdings in American Express (NYSE:AXP) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,700 shares of the payment services company’s stock after buying an additional 280 shares during the period. SP Asset Management’s holdings in American Express were worth $6,302,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of AXP. Harel Insurance Investments & Financial Services Ltd. boosted its stake in American Express by 6.9% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 849 shares of the payment services company’s stock valued at $139,000 after purchasing an additional 55 shares during the last quarter. Associated Banc Corp boosted its stake in American Express by 0.7% during the 4th quarter. Associated Banc Corp now owns 8,402 shares of the payment services company’s stock valued at $1,375,000 after purchasing an additional 55 shares during the last quarter. Ropes Wealth Advisors LLC boosted its stake in American Express by 0.3% during the 4th quarter. Ropes Wealth Advisors LLC now owns 19,599 shares of the payment services company’s stock valued at $3,206,000 after purchasing an additional 55 shares during the last quarter. Wesbanco Bank Inc. lifted its position in shares of American Express by 1.3% during the 1st quarter. Wesbanco Bank Inc. now owns 4,426 shares of the payment services company’s stock worth $827,000 after buying an additional 55 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in shares of American Express by 1.7% during the 1st quarter. Grove Bank & Trust now owns 3,472 shares of the payment services company’s stock worth $649,000 after buying an additional 57 shares in the last quarter. Institutional investors own 85.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley lifted their target price on shares of American Express from $143.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday, July 25th. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and set a $200.00 target price on the stock. in a research report on Monday, April 11th. 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 report on Monday, July 25th. Oppenheimer set a $184.00 price target on shares of American Express in a report on Tuesday, July 19th. Finally, Robert W. Baird raised shares of American Express from a “neutral” rating to an “outperform” rating and set a $175.00 price target on the stock in a report on Friday, June 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, American Express has a consensus rating of “Hold” and a consensus price target of $181.53.

American Express Price Performance

Shares of AXP traded up $0.64 during mid-day trading on Friday, reaching $157.51. 2,513,764 shares of the stock traded hands, compared to its average volume of 3,709,885. The firm has a fifty day moving average price of $149.59 and a 200 day moving average price of $168.36. The company has a market cap of $118.09 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 1.22 and a beta of 1.15. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.74. American Express has a 1 year low of $134.12 and a 1 year high of $199.55.

American Express (NYSE:AXPGet Rating) last released its quarterly earnings results on Friday, July 22nd. The payment services company reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.16. The firm had revenue of $13.40 billion during the quarter, compared to analyst estimates of $12.54 billion. American Express had a net margin of 15.69% and a return on equity of 32.81%. The business’s revenue for the quarter was up 30.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.80 EPS. As a group, equities research analysts predict that American Express will post 9.74 earnings per share for the current year.

Insider Activity

In other news, Director Theodore Leonsis sold 4,005 shares of the company’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $166.63, for a total transaction of $667,353.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.

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.

See Also

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

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