Brighton Jones LLC Has $1.23 Million Stock Position in American Express (NYSE:AXP)

Brighton Jones LLC grew its holdings in shares of American Express (NYSE:AXP) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,301 shares of the payment services company’s stock after purchasing an additional 297 shares during the period. Brighton Jones LLC’s holdings in American Express were worth $1,228,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cetera Advisors LLC grew its position in shares of American Express by 119.6% during the 1st quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock worth $8,993,000 after purchasing an additional 21,508 shares in the last quarter. Empowered Funds LLC grew its position in shares of American Express by 102.9% during the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock worth $2,842,000 after purchasing an additional 6,329 shares in the last quarter. Sciencast Management LP acquired a new position in shares of American Express during the 1st quarter worth approximately $1,881,000. New Mexico Educational Retirement Board grew its position in shares of American Express by 15.5% during the 1st quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock worth $8,143,000 after purchasing an additional 4,800 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its position in shares of American Express by 49.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock worth $63,550,000 after purchasing an additional 91,760 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

American Express stock opened at $268.95 on Friday. 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 has a market capitalization of $193.46 billion, a PE ratio of 22.15, a P/E/G ratio of 1.42 and a beta of 1.21. American Express has a 12 month low of $140.91 and a 12 month high of $271.49. The stock has a 50-day moving average price of $249.10 and a two-hundred day moving average price of $236.97.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AXP. Wells Fargo & Company increased their target price on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. William Blair restated an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Monness Crespi & Hardt raised their target price on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. 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 report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods raised 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 investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $230.78.

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.