Addison Advisors LLC Buys 205 Shares of American Express (NYSE:AXP)

Addison Advisors LLC increased its stake in American Express (NYSE:AXP) by 41.3% during the 2nd quarter, Holdings Channel reports. The firm owned 701 shares of the payment services company’s stock after purchasing an additional 205 shares during the quarter. Addison Advisors LLC’s holdings in American Express were worth $162,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Gryphon Financial Partners LLC bought a new position in American Express during the fourth quarter valued at approximately $224,000. Wealthspire Advisors LLC grew its position in American Express by 10.9% during the fourth quarter. Wealthspire Advisors LLC now owns 6,352 shares of the payment services company’s stock valued at $1,190,000 after acquiring an additional 625 shares during the last quarter. Principal Securities Inc. bought a new position in American Express during the fourth quarter valued at approximately $1,935,000. Van Hulzen Asset Management LLC purchased a new stake in shares of American Express during the fourth quarter valued at approximately $407,000. Finally, Berger Financial Group Inc purchased a new stake in shares of American Express during the fourth quarter valued at approximately $224,000. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

Shares of American Express stock opened at $244.12 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $175.60 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.45 and a beta of 1.21. The business has a fifty day simple moving average of $244.57 and a two-hundred day simple moving average of $234.00. American Express has a 12 month low of $140.91 and a 12 month high of $261.75.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. During the same period last year, the company earned $2.89 earnings per share. The company’s revenue was up 9.2% on a year-over-year basis. On average, equities analysts forecast that American Express will post 13.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on AXP shares. Barclays increased their price objective on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. Royal Bank of Canada increased their price objective on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Jefferies Financial Group increased their price objective on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. William Blair reissued an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Finally, JPMorgan Chase & Co. raised their price target on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus 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.