American Express (NYSE:AXP) Shares Purchased by Berkshire Bank

Berkshire Bank lifted its stake in American Express (NYSE:AXP) by 0.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,446 shares of the payment services company’s stock after purchasing an additional 81 shares during the period. Berkshire Bank’s holdings in American Express were worth $1,645,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. SRS Capital Advisors Inc. increased its stake in shares of American Express by 5.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,220 shares of the payment services company’s stock valued at $180,000 after acquiring an additional 63 shares during the period. Orion Portfolio Solutions LLC increased its stake in shares of American Express by 1.2% during the first quarter. Orion Portfolio Solutions LLC now owns 5,566 shares of the payment services company’s stock valued at $1,041,000 after acquiring an additional 65 shares during the period. Koshinski Asset Management Inc. increased its stake in shares of American Express by 1.3% during the first quarter. Koshinski Asset Management Inc. now owns 4,885 shares of the payment services company’s stock valued at $806,000 after acquiring an additional 65 shares during the period. Barden Capital Management Inc. increased its stake in shares of American Express by 0.7% during the first quarter. Barden Capital Management Inc. now owns 9,989 shares of the payment services company’s stock valued at $1,648,000 after acquiring an additional 66 shares during the period. Finally, Frontier Wealth Management LLC increased its stake in shares of American Express by 0.5% during the first quarter. Frontier Wealth Management LLC now owns 13,355 shares of the payment services company’s stock valued at $2,344,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds own 83.08% of the company’s stock.

American Express Stock Performance

Shares of AXP opened at $159.63 on Tuesday. The company has a market capitalization of $117.56 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 1.03 and a beta of 1.19. American Express has a one year low of $130.65 and a one year high of $182.15. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.59 and a quick ratio of 1.59. The company’s fifty day moving average price is $164.69 and its 200 day moving average price is $163.63.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 21st. The payment services company reported $2.89 EPS for the quarter, topping the consensus estimate of $2.81 by $0.08. The firm had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $15.41 billion. American Express had a net margin of 12.99% and a return on equity of 29.26%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.57 EPS. As a group, analysts expect that American Express will post 11.13 earnings per share for the current year.

Analyst Ratings Changes

AXP has been the topic of a number of research analyst reports. Bank of America lowered their price objective on shares of American Express from $205.00 to $203.00 and set a “buy” rating on the stock in a research note on Monday, July 24th. 51job restated a “reiterates” rating on shares of American Express in a research report on Friday, June 30th. Robert W. Baird lowered shares of American Express from an “outperform” rating to a “neutral” rating and set a $185.00 price target on the stock. in a research report on Thursday, July 6th. 22nd Century Group reaffirmed a “reiterates” rating on shares of American Express in a research note on Friday, June 30th. Finally, Stephens reaffirmed an “underweight” rating and issued a $146.00 price objective on shares of American Express in a research note on Tuesday, July 18th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $173.06.

American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.