DRW Securities LLC Raises Stock Position in American Express (NYSE:AXP)

DRW Securities LLC increased its position in shares of American Express (NYSE:AXP) by 1,023.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,296 shares of the payment services company’s stock after acquiring an additional 14,845 shares during the period. DRW Securities LLC’s holdings in American Express were worth $3,761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of AXP. Price T Rowe Associates Inc. MD increased its holdings in shares of American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after purchasing an additional 662,382 shares during the period. Artisan Partners Limited Partnership grew its position in American Express by 11.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,855,211 shares of the payment services company’s stock worth $909,575,000 after buying an additional 496,153 shares in the last quarter. TD Asset Management Inc increased its stake in American Express by 8.2% in the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock worth $590,940,000 after acquiring an additional 195,876 shares during the last quarter. Boston Partners lifted its holdings in shares of American Express by 22.2% in the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after acquiring an additional 387,166 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd purchased a new stake in shares of American Express in the 1st quarter valued at $433,709,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on AXP shares. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Wells Fargo & Company lifted 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. Royal Bank of Canada increased their target price on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Citigroup assumed coverage on American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target on the stock. Finally, Keefe, Bruyette & Woods increased their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Three 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. According to MarketBeat.com, American Express has an average rating of “Hold” and an average price target of $230.78.

American Express Trading Up 0.1 %

NYSE AXP opened at $268.99 on Friday. The firm has a market capitalization of $193.49 billion, a PE ratio of 22.16, a P/E/G ratio of 1.42 and a beta of 1.21. The stock’s 50 day moving average is $249.10 and its 200 day moving average is $237.11. American Express has a twelve month low of $140.91 and a twelve month high of $271.49. The company has a quick ratio of 1.66, a current 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 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The firm had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.89 EPS. 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.