Abundance Wealth Counselors Increases Position in American Express (NYSE:AXP)

Abundance Wealth Counselors increased its stake in shares of American Express (NYSE:AXP) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,335 shares of the payment services company’s stock after purchasing an additional 190 shares during the quarter. American Express makes up 0.7% of Abundance Wealth Counselors’ holdings, making the stock its 27th largest position. Abundance Wealth Counselors’ holdings in American Express were worth $1,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in AXP. Scarborough Advisors LLC acquired a new position in shares of American Express in the 4th quarter valued at $25,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of American Express during the fourth quarter worth about $28,000. Sachetta LLC purchased a new stake in American Express in the fourth quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC acquired a new position in American Express in the 4th quarter worth approximately $29,000. Finally, WFA Asset Management Corp purchased a new position in American Express during the 4th quarter worth approximately $30,000. Institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of research reports. William Blair restated an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Monness Crespi & Hardt upped their target price on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Evercore ISI upped their price objective on American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a research report on Wednesday, April 24th. Finally, Barclays raised their price objective on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $230.70.

American Express Price Performance

AXP traded up $5.73 on Thursday, reaching $249.49. 2,655,377 shares of the company’s stock were exchanged, compared to its average volume of 3,008,023. The stock has a market cap of $179.46 billion, a PE ratio of 20.55, a P/E/G ratio of 1.38 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. American Express has a twelve month low of $140.91 and a twelve month high of $256.24. The stock’s fifty day moving average price is $236.80 and its 200-day moving average price is $229.00.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The company had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.89 earnings per share. Sell-side analysts expect that American Express will post 13.24 EPS for the current year.

About American Express

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.