American Express (NYSE:AXP) Shares Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lifted its stake in American Express (NYSE:AXP) by 28,986.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,053 shares of the payment services company’s stock after acquiring an additional 11,015 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in American Express were worth $2,559,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Jefferies Financial Group increased their price target on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. Bank of America raised their price target on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. 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 report on Tuesday, July 9th. William Blair reissued an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Finally, Monness Crespi & Hardt upped their price target on shares of American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $230.78.

American Express Trading Up 0.1 %

Shares of AXP stock opened at $268.99 on Friday. American Express has a twelve month low of $140.91 and a twelve month high of $271.49. The company has a market capitalization of $193.49 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 1.42 and a beta of 1.21. The firm has a 50-day moving average price of $249.10 and a 200 day moving average price of $237.11. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last announced 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 net margin of 15.53% and a return on equity of 32.94%. The firm had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same quarter last year, the business earned $2.89 earnings per share. American Express’s revenue was up 9.2% compared to the same quarter last year. Research analysts forecast that American Express will post 13.12 earnings per share for the current fiscal 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.