Chris Bulman Inc Makes New Investment in American Express (NYSE:AXP)

Chris Bulman Inc purchased a new stake in shares of American Express (NYSE:AXP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 688 shares of the payment services company’s stock, valued at approximately $159,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Scarborough Advisors LLC acquired a new stake in American Express during the 4th quarter worth $25,000. Sachetta LLC bought a new stake in American Express in the fourth quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in American Express in the fourth quarter worth $29,000. Game Plan Financial Advisors LLC boosted its position in shares of American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Finally, Creekmur Asset Management LLC acquired a new position in shares of American Express in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of AXP opened at $244.06 on Friday. The company has a market cap of $175.55 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. The firm has a 50-day moving average of $244.57 and a 200-day moving average of $234.15. American Express has a one year low of $140.91 and a one year high of $261.75. 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 (NYSE:AXP) last posted its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. American Express’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the company posted $2.89 earnings per share. As a group, equities analysts forecast that American Express will post 13.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AXP has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Bank of America lowered American Express from a “buy” rating to a “neutral” rating and set a $263.00 price objective for the company. in a research report on Wednesday, August 21st. Wells Fargo & Company increased their target price on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Monness Crespi & Hardt lifted their price target on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Compass Point began coverage on shares of American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective for the company. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $230.70.

American Express Company Profile

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.