American Express (NYSE:AXP) Shares Acquired by Zions Bancorporation N.A.

Zions Bancorporation N.A. increased its holdings in American Express (NYSE:AXP) by 330.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,295 shares of the payment services company’s stock after buying an additional 5,601 shares during the quarter. Zions Bancorporation N.A.’s holdings in American Express were worth $1,689,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of American Express by 8.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after acquiring an additional 662,382 shares in the last quarter. Norges Bank bought a new stake in American Express in the fourth quarter worth $1,112,747,000. Artisan Partners Limited Partnership boosted its holdings in shares of American Express by 11.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,855,211 shares of the payment services company’s stock worth $909,575,000 after buying an additional 496,153 shares during the period. TD Asset Management Inc increased its position in American Express by 8.2% in the 1st 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. Finally, Boston Partners grew its position 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 purchasing an additional 387,166 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AXP. Compass Point started coverage on shares of American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target for the company. BTIG Research began coverage on shares of American Express in a research report on Friday, June 7th. They set a “neutral” rating for the company. Wells Fargo & Company increased their target price on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Jefferies Financial Group boosted their price target on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods upped their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $230.70.

American Express Stock Performance

Shares of American Express stock opened at $259.07 on Friday. American Express has a twelve month low of $140.91 and a twelve month high of $261.75. 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 stock has a market cap of $186.35 billion, a price-to-earnings ratio of 21.34, a P/E/G ratio of 1.42 and a beta of 1.21. The company’s fifty day moving average is $246.33 and its 200 day moving average is $235.36.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion during 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%. American Express’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.89 earnings per share. Sell-side analysts forecast that American Express will post 13.12 EPS for the current year.

American Express Company 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.