AE Wealth Management LLC Has $3.47 Million Stake in American Express (NYSE:AXP)

AE Wealth Management LLC grew its position in American Express (NYSE:AXP) by 23.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,979 shares of the payment services company’s stock after buying an additional 2,894 shares during the quarter. AE Wealth Management LLC’s holdings in American Express were worth $3,469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AXP. Sawgrass Asset Management LLC lifted its holdings in American Express by 0.4% during the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after purchasing an additional 41 shares during the last quarter. Ignite Planners LLC lifted its stake in shares of American Express by 0.9% during the 2nd quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after buying an additional 43 shares in the last quarter. Willner & Heller LLC lifted its stake in shares of American Express by 4.1% during the 2nd quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after buying an additional 43 shares in the last quarter. Beacon Capital Management LLC boosted its holdings in American Express by 18.9% in the 2nd quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock worth $63,000 after buying an additional 43 shares during the period. Finally, Capital Wealth Planning LLC grew its stake in American Express by 4.0% in the 2nd quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock valued at $257,000 after buying an additional 43 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Trading Up 0.1 %

AXP stock opened at $268.99 on Monday. The company has a market capitalization of $193.49 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. American Express has a one year low of $140.91 and a one year high of $271.49. The company’s 50 day moving average price is $249.10 and its two-hundred day moving average price is $237.24.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. During the same quarter last year, the company earned $2.89 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. As a group, analysts predict that American Express will post 13.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

AXP has been the topic of several recent research reports. Keefe, Bruyette & Woods increased their target price on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Barclays raised their target price on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Bank of America upped their price target on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. William Blair reissued an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Finally, Royal Bank of Canada boosted their price objective on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus target price of $230.78.

American Express 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.