American Express (NYSE:AXP) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC grew its stake in American Express (NYSE:AXP) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,597 shares of the payment services company’s stock after purchasing an additional 14,347 shares during the quarter. ProShare Advisors LLC’s holdings in American Express were worth $51,542,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Gryphon Financial Partners LLC purchased a new position in shares of American Express in the fourth quarter worth about $224,000. Prairieview Wealth Partners LLC purchased a new position in shares of American Express in the fourth quarter worth about $341,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of American Express by 5.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 79,090 shares of the payment services company’s stock worth $14,817,000 after buying an additional 3,788 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of American Express by 6.7% in the fourth quarter. Advisory Services Network LLC now owns 24,533 shares of the payment services company’s stock worth $4,596,000 after buying an additional 1,539 shares in the last quarter. Finally, Congress Wealth Management LLC DE lifted its stake in shares of American Express by 196.2% in the fourth quarter. Congress Wealth Management LLC DE now owns 10,046 shares of the payment services company’s stock worth $1,882,000 after buying an additional 6,654 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Up 0.1 %

Shares of AXP stock opened at $268.99 on Monday. 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 stock has a market capitalization of $193.49 billion, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a 50 day moving average price of $249.10 and a 200 day moving average price of $237.24. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $271.49.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The firm had revenue of $16.33 billion during 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 business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.89 earnings per share. Equities research analysts predict that American Express will post 13.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on AXP. BTIG Research began coverage on shares of American Express in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Wells Fargo & Company lifted their target price on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. 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 note on Tuesday, July 9th. Citigroup initiated coverage on shares of American Express in a research note on Monday, June 10th. They set a “neutral” rating and a $250.00 target price on the stock. Finally, Keefe, Bruyette & Woods lifted their target price on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Three 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.