American Express (NYSE:AXP) Shares Acquired by Thrive Wealth Management LLC

Thrive Wealth Management LLC increased its holdings in American Express (NYSE:AXP) by 12.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,606 shares of the payment services company’s stock after acquiring an additional 172 shares during the quarter. Thrive Wealth Management LLC’s holdings in American Express were worth $280,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. SRS Capital Advisors Inc. boosted its holdings in American Express by 5.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,220 shares of the payment services company’s stock worth $180,000 after purchasing an additional 63 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in American Express by 1.2% during the first quarter. Orion Portfolio Solutions LLC now owns 5,566 shares of the payment services company’s stock worth $1,041,000 after purchasing an additional 65 shares during the last quarter. Koshinski Asset Management Inc. boosted its holdings in American Express by 1.3% during the first quarter. Koshinski Asset Management Inc. now owns 4,885 shares of the payment services company’s stock worth $806,000 after purchasing an additional 65 shares during the last quarter. Barden Capital Management Inc. boosted its stake in American Express by 0.7% in the first quarter. Barden Capital Management Inc. now owns 9,989 shares of the payment services company’s stock valued at $1,648,000 after acquiring an additional 66 shares during the last quarter. Finally, Frontier Wealth Management LLC boosted its stake in American Express by 0.5% in the first quarter. Frontier Wealth Management LLC now owns 13,355 shares of the payment services company’s stock valued at $2,344,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.

American Express Price Performance

AXP stock opened at $159.63 on Tuesday. The firm has a market cap of $117.56 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.02 and a beta of 1.19. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.59 and a current ratio of 1.59. The firm’s fifty day moving average is $164.69 and its 200 day moving average is $163.63. American Express has a 52 week low of $130.65 and a 52 week high of $182.15.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on AXP shares. 22nd Century Group reiterated a “reiterates” rating on shares of American Express in a research note on Friday, June 30th. Bank of America dropped their target price on shares of American Express from $205.00 to $203.00 and set a “buy” rating on the stock in a research note on Monday, July 24th. StockNews.com started coverage on shares of American Express in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Robert W. Baird cut shares of American Express from an “outperform” rating to a “neutral” rating and set a $185.00 target price on the stock. in a research note on Thursday, July 6th. Finally, 58.com restated a “reiterates” rating on shares of American Express in a research note on Friday, June 30th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $173.06.

American Express 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.