Advisor OS LLC Increases Stock Position in American Express (NYSE:AXP)

Advisor OS LLC lifted its holdings in shares of American Express (NYSE:AXP) by 12.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,016 shares of the payment services company’s stock after acquiring an additional 343 shares during the period. Advisor OS LLC’s holdings in American Express were worth $698,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Sawgrass Asset Management LLC grew its position in shares of American Express by 0.4% in the second 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. Spire Wealth Management lifted its stake in American Express by 1.0% during the first quarter. Spire Wealth Management now owns 4,315 shares of the payment services company’s stock worth $983,000 after purchasing an additional 42 shares during the last quarter. Ignite Planners LLC lifted its stake in shares of 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 acquiring an additional 43 shares during the last quarter. Willner & Heller LLC increased its holdings in American Express by 4.1% in the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after purchasing an additional 43 shares during the period. Finally, Beacon Capital Management LLC increased its holdings in American Express by 18.9% in the second 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 period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Down 3.1 %

NYSE:AXP opened at $244.06 on Friday. The company has a market cap of $175.55 billion, a PE ratio of 20.10, a P/E/G ratio of 1.45 and a beta of 1.21. American Express has a twelve month low of $140.91 and a twelve month high of $261.75. 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 company’s 50 day moving average is $244.57 and its two-hundred day moving average is $234.15.

American Express (NYSE:AXP) last announced its quarterly 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 the consensus estimate of $16.60 billion. During the same period in the prior year, the firm posted $2.89 earnings per share. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. Analysts anticipate that American Express will post 13.12 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on AXP shares. 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 report on Monday, July 22nd. Barclays lifted their target price on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. Jefferies Financial Group lifted their target price on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Compass Point assumed coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target for the company. Finally, Citigroup assumed coverage on shares of American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.