Nippon Life Global Investors Americas Inc. Buys 260 Shares of American Express (NYSE:AXP)

Nippon Life Global Investors Americas Inc. raised its stake in shares of American Express (NYSE:AXP) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,070 shares of the payment services company’s stock after purchasing an additional 260 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in American Express were worth $9,973,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Certified Advisory Corp lifted its holdings in American Express by 4.0% in the second quarter. Certified Advisory Corp now owns 1,303 shares of the payment services company’s stock worth $302,000 after buying an additional 50 shares during the period. DRW Securities LLC raised its position in shares of American Express by 1,023.1% in the 2nd quarter. DRW Securities LLC now owns 16,296 shares of the payment services company’s stock worth $3,761,000 after acquiring an additional 14,845 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of American Express by 20.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,481 shares of the payment services company’s stock valued at $881,000 after purchasing an additional 590 shares during the period. Fairscale Capital LLC bought a new stake in shares of American Express during the second quarter valued at approximately $105,000. Finally, First City Capital Management Inc. grew its stake in American Express by 14.9% in the second quarter. First City Capital Management Inc. now owns 2,582 shares of the payment services company’s stock worth $598,000 after purchasing an additional 335 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Performance

AXP stock opened at $268.99 on Monday. 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 has a 1 year low of $140.91 and a 1 year high of $271.49. The company has a market cap 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 stock’s fifty day moving average price is $249.10 and its 200-day moving average price is $237.24.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AXP shares. BTIG Research began coverage on American Express in a research report on Friday, June 7th. They set a “neutral” rating for the company. Citigroup started coverage on shares of American Express in a research note on Monday, June 10th. They set a “neutral” rating and a $250.00 price objective on the stock. Bank of America raised their target price on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Jefferies Financial Group boosted their price target on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Finally, William Blair restated an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.