Y.D. More Investments Ltd Buys 376 Shares of American Express (NYSE:AXP)

Y.D. More Investments Ltd boosted its stake in shares of American Express (NYSE:AXP) by 44.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,216 shares of the payment services company’s stock after purchasing an additional 376 shares during the quarter. Y.D. More Investments Ltd’s holdings in American Express were worth $281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. Sawgrass Asset Management LLC grew its stake in 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 purchasing an additional 41 shares in the last quarter. Spire Wealth Management increased its holdings in American Express by 1.0% during the first quarter. Spire Wealth Management now owns 4,315 shares of the payment services company’s stock worth $983,000 after buying an additional 42 shares during the last quarter. Ignite Planners LLC raised its position in American Express by 0.9% during the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock worth $1,103,000 after acquiring an additional 43 shares in the last quarter. Willner & Heller LLC lifted its stake in American Express by 4.1% in 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 grew its position in shares of American Express by 18.9% in the 2nd 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 period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analysts Set New Price Targets

AXP has been the topic of a number of research analyst reports. Monness Crespi & Hardt upped their target price on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Bank of America cut American Express from a “buy” rating to a “neutral” rating and set a $263.00 price objective for the company. in a research report on Wednesday, August 21st. Citigroup started coverage on American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 target price on the stock. BTIG Research initiated coverage on American Express in a report on Friday, June 7th. They set a “neutral” rating for the company. Finally, Royal Bank of Canada upped their price objective on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $230.70.

American Express Stock Up 0.4 %

AXP stock opened at $255.10 on Friday. American Express has a 52 week low of $140.91 and a 52 week high of $261.75. The business has a 50-day simple moving average of $245.86 and a 200 day simple moving average of $235.06. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The company has a market cap of $183.49 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21.

American Express (NYSE:AXP) last issued 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 company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.89 EPS. Sell-side analysts anticipate that American Express will post 13.12 EPS for the current fiscal year.

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.