Bridges Investment Management Inc. Boosts Holdings in American Express (NYSE:AXP)

Bridges Investment Management Inc. raised its holdings in American Express (NYSE:AXP) by 217.0% during the 2nd quarter, Holdings Channel reports. The firm owned 3,804 shares of the payment services company’s stock after purchasing an additional 2,604 shares during the quarter. Bridges Investment Management Inc.’s holdings in American Express were worth $881,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sawgrass Asset Management LLC grew its stake in American Express by 0.4% during the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after buying an additional 41 shares during the last quarter. Ignite Planners LLC grew its position in shares of American Express by 0.9% during the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock worth $1,103,000 after acquiring an additional 43 shares during the last quarter. Willner & Heller LLC increased its holdings in shares of American Express by 4.1% in the 2nd quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock worth $252,000 after acquiring an additional 43 shares during the period. Beacon Capital Management LLC lifted its position in American Express by 18.9% in the 2nd quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock valued at $63,000 after purchasing an additional 43 shares during the last quarter. Finally, Capital Wealth Planning LLC boosted its stake in American Express by 4.0% during the 2nd quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock valued at $257,000 after purchasing an additional 43 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Trading Up 0.1 %

American Express stock opened at $268.95 on Friday. The firm has a market cap of $193.46 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. American Express has a 1 year low of $140.91 and a 1 year high of $271.49. The firm’s 50 day moving average price is $249.10 and its two-hundred day moving average price is $236.97. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

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

Analysts Set New Price Targets

Several brokerages have commented on AXP. Barclays raised their price target on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. Jefferies Financial Group lifted their target price on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Royal Bank of Canada boosted their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. BTIG Research initiated coverage on American Express in a report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $230.78.

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.