Old Port Advisors Acquires New Shares in American Express (NYSE:AXP)

Old Port Advisors acquired a new stake in American Express (NYSE:AXP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,040 shares of the payment services company’s stock, valued at approximately $241,000.

Several other hedge funds have also recently bought and sold shares of AXP. International Assets Investment Management LLC increased its stake in American Express by 0.8% in the 4th quarter. International Assets Investment Management LLC now owns 54,832 shares of the payment services company’s stock valued at $10,272,000 after purchasing an additional 433 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in American Express by 30.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 54,289 shares of the payment services company’s stock valued at $10,171,000 after buying an additional 12,789 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in American Express during the 4th quarter valued at $28,000. Carnegie Capital Asset Management LLC grew its holdings in American Express by 3.0% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 3,587 shares of the payment services company’s stock valued at $672,000 after buying an additional 106 shares during the last quarter. Finally, Keel Point LLC acquired a new stake in American Express during the 4th quarter valued at $207,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of NYSE AXP traded up $2.21 during trading on Friday, hitting $251.71. The company had a trading volume of 2,149,718 shares, compared to its average volume of 3,002,593. The company has a market cap of $181.06 billion, a P/E ratio of 20.73, a PEG ratio of 1.38 and a beta of 1.21. American Express has a 52 week low of $140.91 and a 52 week high of $256.24. The business’s 50-day moving average is $237.19 and its 200 day moving average is $229.35. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.89 earnings per share. Equities research analysts predict that American Express will post 13.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price objective on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Wells Fargo & Company raised their price objective on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Jefferies Financial Group raised their price objective on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. BMO Capital Markets raised their price objective on American Express from $167.00 to $175.00 and gave the stock an “underperform” rating in a report on Monday, April 22nd. Finally, Robert W. Baird increased their target price on American Express from $190.00 to $205.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, American Express has a consensus rating of “Hold” and a consensus price target of $230.70.

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.