American Express (NYSE:AXP) Stake Lifted by Certified Advisory Corp

Certified Advisory Corp raised its stake in American Express (NYSE:AXP) by 4.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,303 shares of the payment services company’s stock after buying an additional 50 shares during the quarter. Certified Advisory Corp’s holdings in American Express were worth $302,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in American Express by 8.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after purchasing an additional 662,382 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of American Express by 11.4% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,855,211 shares of the payment services company’s stock valued at $909,575,000 after buying an additional 496,153 shares during the last quarter. TD Asset Management Inc boosted its position in shares of American Express by 8.2% during the first quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock worth $590,940,000 after buying an additional 195,876 shares during the period. Boston Partners grew its holdings in American Express by 22.2% in the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after buying an additional 387,166 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd acquired a new stake in American Express in the 1st quarter valued at approximately $433,709,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

AXP has been the subject of a number of analyst reports. Bank of America boosted their price target on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Compass Point began coverage on shares of American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price for the company. Citigroup started coverage on shares of American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Finally, Wells Fargo & Company boosted their target price on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $230.78.

American Express Stock Performance

Shares of AXP opened at $267.29 on Tuesday. The company has a 50-day moving average of $249.56 and a two-hundred day moving average of $237.55. The stock has a market cap of $192.26 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.42 and a beta of 1.21. 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 one year low of $140.91 and a one year high of $272.41.

American Express (NYSE:AXP) last posted its quarterly earnings data 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 firm had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. During the same quarter last year, the business posted $2.89 EPS. The company’s revenue was up 9.2% on a year-over-year basis. On average, equities research analysts expect that American Express will post 13.12 earnings per share for the current year.

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.