American Express (NYSE:AXP) Shares Acquired by Bridges Investment Management Inc.

Bridges Investment Management Inc. lifted its holdings in shares of American Express (NYSE:AXP) by 217.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,804 shares of the payment services company’s stock after acquiring an additional 2,604 shares during the period. Bridges Investment Management Inc.’s holdings in American Express were worth $881,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board lifted its position in shares of American Express by 71.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock worth $269,547,000 after buying an additional 486,755 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in American Express by 924.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock valued at $197,149,000 after acquiring an additional 768,301 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in American Express by 0.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 26,607 shares of the payment services company’s stock valued at $6,161,000 after acquiring an additional 145 shares during the last quarter. Ieq Capital LLC grew its holdings in shares of American Express by 13.3% during the second quarter. Ieq Capital LLC now owns 27,929 shares of the payment services company’s stock worth $6,467,000 after purchasing an additional 3,273 shares during the last quarter. Finally, Brighton Jones LLC increased its position in shares of American Express by 5.9% during the second quarter. Brighton Jones LLC now owns 5,301 shares of the payment services company’s stock worth $1,228,000 after purchasing an additional 297 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

Shares of AXP opened at $268.95 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 52-week low of $140.91 and a 52-week high of $271.49. The company has a 50-day simple moving average of $249.10 and a 200-day simple moving average of $236.97. 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 (NYSE:AXP) last issued its 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. The company 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 firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company posted $2.89 earnings per share. Equities research analysts predict that American Express will post 13.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Jefferies Financial Group increased their price objective on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Citigroup began coverage on shares of American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 target price on the stock. Bank of America increased their price target on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, BTIG Research started coverage on shares of American Express in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, American Express currently has an average 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.