American Express (NYSE:AXP) Shares Purchased by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. increased its position in shares of American Express (NYSE:AXP) by 7.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,654 shares of the payment services company’s stock after buying an additional 188 shares during the period. Legacy Financial Advisors Inc.’s holdings in American Express were worth $615,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ensign Peak Advisors Inc boosted its stake in shares of American Express by 12.9% during the 2nd quarter. Ensign Peak Advisors Inc now owns 447,688 shares of the payment services company’s stock worth $103,662,000 after acquiring an additional 51,088 shares in the last quarter. Arista Wealth Management LLC purchased a new position in American Express during the second quarter worth approximately $512,000. Transatlantique Private Wealth LLC grew its holdings in American Express by 1.5% in the second quarter. Transatlantique Private Wealth LLC now owns 7,262 shares of the payment services company’s stock valued at $1,667,000 after purchasing an additional 110 shares during the period. Sei Investments Co. grew its holdings in American Express by 9.7% in the second quarter. Sei Investments Co. now owns 329,361 shares of the payment services company’s stock valued at $76,262,000 after purchasing an additional 29,046 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of American Express by 4.5% in the second quarter. Pacer Advisors Inc. now owns 40,554 shares of the payment services company’s stock valued at $9,390,000 after buying an additional 1,754 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Monness Crespi & Hardt increased their target price on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Compass Point started coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price for the company. Citigroup initiated coverage on shares of 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, Jefferies Financial Group boosted their price objective on American Express from $225.00 to $235.00 and gave the stock a “hold” 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 issued a buy rating to the company. According to MarketBeat, American Express has an average rating of “Hold” and an average price target of $230.78.

American Express Stock Up 0.1 %

AXP stock opened at $268.99 on Friday. The firm has a market cap of $193.49 billion, a PE ratio of 22.16, a PEG ratio of 1.42 and a beta of 1.21. American Express has a one year low of $140.91 and a one year high of $271.49. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The firm’s 50 day moving average price is $249.10 and its 200-day moving average price is $237.11.

American Express (NYSE:AXP) last announced its quarterly 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 business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.89 EPS. On average, equities research analysts anticipate that American Express will post 13.12 EPS for the current year.

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.