Main Street Financial Solutions LLC Acquires 54 Shares of American Express (NYSE:AXP)

Main Street Financial Solutions LLC increased its holdings in shares of American Express (NYSE:AXP) by 5.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 962 shares of the payment services company’s stock after purchasing an additional 54 shares during the period. Main Street Financial Solutions LLC’s holdings in American Express were worth $223,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Game Plan Financial Advisors LLC raised its stake in shares of American Express by 62.5% in the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after purchasing an additional 50 shares during the period. Scarborough Advisors LLC acquired a new stake in American Express in the 4th quarter valued at approximately $25,000. Sachetta LLC acquired a new stake in American Express in the 4th quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC bought a new stake in American Express in the 4th quarter valued at approximately $29,000. Finally, DHJJ Financial Advisors Ltd. lifted its stake in American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after acquiring an additional 49 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AXP has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Bank of America cut American Express from a “buy” rating to a “neutral” rating and set a $263.00 price objective for the company. in a report on Wednesday, August 21st. BTIG Research began coverage on American Express in a report on Friday, June 7th. They set a “neutral” rating on the stock. Citigroup initiated coverage on American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target for the company. Finally, Wells Fargo & Company upped their price objective on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $230.70.

American Express Stock Up 1.5 %

AXP stock opened at $259.00 on Friday. American Express has a fifty-two week low of $140.91 and a fifty-two week 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. The stock has a market capitalization of $186.30 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 1.42 and a beta of 1.21. The business’s fifty day moving average price is $246.33 and its two-hundred day moving average price is $235.48.

American Express (NYSE:AXP) last released 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 for the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. American Express’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm earned $2.89 earnings per share. On average, equities analysts anticipate that American Express will post 13.12 earnings per share for the current year.

American Express 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.