PFG Investments LLC Increases Stock Holdings in American Express (NYSE:AXP)

PFG Investments LLC grew its position in American Express (NYSE:AXP) by 6.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,502 shares of the payment services company’s stock after buying an additional 373 shares during the quarter. PFG Investments LLC’s holdings in American Express were worth $1,505,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Sawgrass Asset Management LLC increased its position in shares of American Express by 0.4% in 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 buying an additional 41 shares in the last quarter. Spire Wealth Management boosted its stake in shares of American Express by 1.0% during the first quarter. Spire Wealth Management now owns 4,315 shares of the payment services company’s stock valued at $983,000 after acquiring an additional 42 shares during the last quarter. Ignite Planners LLC boosted its stake in shares of American Express by 0.9% during the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after acquiring an additional 43 shares during the last quarter. Willner & Heller LLC boosted its stake in shares of American Express by 4.1% during the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after acquiring an additional 43 shares during the last quarter. Finally, Beacon Capital Management LLC boosted its stake in shares of American Express by 18.9% during the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock valued at $63,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AXP. Bank of America lowered American Express from a “buy” rating to a “neutral” rating and set a $263.00 price objective on the stock. in a research note on Wednesday, August 21st. Keefe, Bruyette & Woods increased their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. BTIG Research began coverage on American Express in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Citigroup assumed coverage on American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target on the stock. Finally, Barclays raised their price target 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. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, American Express currently has an average rating of “Hold” and an average price target of $230.70.

American Express Stock Performance

American Express stock opened at $250.92 on Tuesday. The company has a market cap of $180.49 billion, a price-to-earnings 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 current ratio of 1.66 and a quick ratio of 1.66. American Express has a 12 month low of $140.91 and a 12 month high of $261.75. The stock’s 50-day moving average is $244.91 and its 200-day moving average is $234.57.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $3.49 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 return on equity of 32.94% and a net margin of 15.53%. The company’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the business posted $2.89 EPS. Equities analysts anticipate 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.