LGT Group Foundation Purchases 591 Shares of American Express (NYSE:AXP)

LGT Group Foundation increased its position in shares of American Express (NYSE:AXP) by 3.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 20,243 shares of the payment services company’s stock after acquiring an additional 591 shares during the period. LGT Group Foundation’s holdings in American Express were worth $4,687,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Ieq Capital LLC raised its stake in shares of American Express by 11.2% during the 4th quarter. Ieq Capital LLC now owns 23,030 shares of the payment services company’s stock worth $4,314,000 after acquiring an additional 2,319 shares in the last quarter. Cetera Advisors LLC raised its stake in shares of American Express by 119.6% during the 1st quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock worth $8,993,000 after acquiring an additional 21,508 shares in the last quarter. Empowered Funds LLC increased its stake in American Express by 102.9% during the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock valued at $2,842,000 after purchasing an additional 6,329 shares in the last quarter. Sciencast Management LP acquired a new position in American Express during the 1st quarter valued at approximately $1,881,000. Finally, New Mexico Educational Retirement Board increased its stake in American Express by 15.5% during the 1st quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock valued at $8,143,000 after purchasing an additional 4,800 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

Shares of NYSE AXP opened at $250.92 on Tuesday. The company’s fifty day moving average price is $244.91 and its 200 day moving average price is $234.57. American Express has a 1 year low of $140.91 and a 1 year high of $261.75. The company has a market capitalization of $180.49 billion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 1.37 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 (NYSE:AXP) last posted its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.23. The business had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $2.89 earnings per share. On average, research analysts predict that American Express will post 13.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AXP shares. Barclays upped their price target on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. BTIG Research started coverage on shares of American Express in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Wells Fargo & Company upped their price target on shares of American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. 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 target on the stock. Finally, Monness Crespi & Hardt upped their price target on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Three equities research 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 data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $230.70.

About American Express

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.