Meiji Yasuda Asset Management Co Ltd. Acquires 534 Shares of American Express (NYSE:AXP)

Meiji Yasuda Asset Management Co Ltd. raised its holdings in American Express (NYSE:AXP) by 1.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 43,014 shares of the payment services company’s stock after acquiring an additional 534 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in American Express were worth $9,960,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Sawgrass Asset Management LLC grew its holdings 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 worth $2,404,000 after purchasing an additional 41 shares during the last quarter. Ignite Planners LLC boosted its position in American Express by 0.9% in the 2nd quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after buying an additional 43 shares during the period. Willner & Heller LLC grew its stake in American Express by 4.1% in the 2nd quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock worth $252,000 after acquiring an additional 43 shares in the last quarter. Beacon Capital Management LLC increased its position 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 worth $63,000 after acquiring an additional 43 shares during the period. Finally, Capital Wealth Planning LLC raised its stake in shares of American Express by 4.0% during the second quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock valued at $257,000 after acquiring an additional 43 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

AXP has been the topic of several research analyst reports. Citigroup began coverage on American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 price objective on the stock. Jefferies Financial Group increased 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. Monness Crespi & Hardt lifted their price objective on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada increased their target price on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, American Express presently has an average rating of “Hold” and an average price target of $230.78.

American Express Trading Up 1.7 %

American Express stock opened at $265.49 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market cap of $190.97 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The stock has a 50-day moving average of $247.42 and a two-hundred day moving average of $236.22. American Express has a one year low of $140.91 and a one year high of $267.22.

American Express (NYSE:AXP) last announced its quarterly earnings data 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 firm had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. American Express’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the firm posted $2.89 EPS. On average, research analysts anticipate that American Express will post 13.12 EPS for the current fiscal 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.