Ieq Capital LLC Purchases 3,273 Shares of American Express (NYSE:AXP)

Ieq Capital LLC increased its position in shares of American Express (NYSE:AXP) by 13.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,929 shares of the payment services company’s stock after buying an additional 3,273 shares during the period. Ieq Capital LLC’s holdings in American Express were worth $6,467,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Scarborough Advisors LLC bought a new position in shares of American Express during the 4th quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC bought a new position in American Express during the fourth quarter worth $29,000. Game Plan Financial Advisors LLC grew its holdings in American Express by 62.5% in the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after purchasing an additional 50 shares during the period. Creekmur Asset Management LLC bought a new stake in American Express in the fourth quarter valued at $32,000. Finally, Transcendent Capital Group LLC acquired a new position in shares of American Express during the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Up 0.1 %

Shares of NYSE:AXP opened at $268.95 on Friday. American Express has a 1 year low of $140.91 and a 1 year high of $271.49. The company has a market capitalization of $193.46 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The business has a fifty day moving average price of $249.10 and a two-hundred day moving average price of $236.97. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on AXP. 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 research note on Monday, July 22nd. William Blair reissued an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. JPMorgan Chase & Co. upped their target price on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. BTIG Research started coverage on shares of American Express in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Finally, Wells Fargo & Company raised their price objective on shares of American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Three equities research 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 data from MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus 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.