Thrive Wealth Management LLC boosted its holdings in shares of American Express (NYSE:AXP) by 12.0% during the 2nd quarter, Holdings Channel reports. The fund owned 1,606 shares of the payment services company’s stock after buying an additional 172 shares during the period. Thrive Wealth Management LLC’s holdings in American Express were worth $280,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. Moneta Group Investment Advisors LLC boosted its holdings in shares of American Express by 118,198.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,732,068 shares of the payment services company’s stock valued at $2,028,913,000 after buying an additional 13,720,460 shares in the last quarter. Norges Bank bought a new stake in shares of American Express in the 4th quarter valued at about $911,554,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of American Express by 139.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,869,384 shares of the payment services company’s stock valued at $1,133,106,000 after buying an additional 3,996,083 shares in the last quarter. FMR LLC boosted its holdings in shares of American Express by 32.3% in the 1st quarter. FMR LLC now owns 6,356,786 shares of the payment services company’s stock valued at $1,048,552,000 after buying an additional 1,551,053 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of American Express by 3,431.6% in the 1st quarter. Jennison Associates LLC now owns 1,286,952 shares of the payment services company’s stock valued at $212,283,000 after buying an additional 1,250,511 shares in the last quarter. 83.08% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently commented on AXP shares. 22nd Century Group reiterated a “reiterates” rating on shares of American Express in a research note on Friday, June 30th. Morgan Stanley reiterated an “overweight” rating and issued a $188.00 target price on shares of American Express in a research note on Monday, July 24th. StockNews.com started coverage on shares of American Express in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Stephens reiterated an “underweight” rating and issued a $146.00 target price on shares of American Express in a research note on Tuesday, July 18th. Finally, 58.com reiterated a “reiterates” rating on shares of American Express in a research note on Friday, June 30th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $173.06.
American Express Price Performance
NYSE:AXP opened at $159.63 on Tuesday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.59 and a quick ratio of 1.59. The firm has a market cap of $117.56 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.02 and a beta of 1.19. The company has a 50 day moving average price of $164.69 and a 200-day moving average price of $163.63. American Express has a 1-year low of $130.65 and a 1-year high of $182.15.
American Express (NYSE:AXP – Get Free Report) last posted its earnings results on Friday, July 21st. The payment services company reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.08. The firm had revenue of $15.05 billion during the quarter, compared to analyst estimates of $15.41 billion. American Express had a net margin of 12.99% and a return on equity of 29.26%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.57 EPS. Equities research analysts forecast that American Express will post 11.13 EPS for the current year.
American Express Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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