American Express (NYSE:AXP) Shares Acquired by Everhart Financial Group Inc.

Everhart Financial Group Inc. increased its holdings in shares of American Express (NYSE:AXP) by 23.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,920 shares of the payment services company’s stock after acquiring an additional 546 shares during the quarter. Everhart Financial Group Inc.’s holdings in American Express were worth $676,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings 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 purchasing an additional 662,382 shares during the last quarter. Norges Bank acquired a new position in American Express during the fourth quarter worth $1,112,747,000. Artisan Partners Limited Partnership grew its holdings in American Express by 11.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,855,211 shares of the payment services company’s stock valued at $909,575,000 after buying an additional 496,153 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of American Express by 21.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock worth $713,202,000 after acquiring an additional 667,695 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of American Express by 8.2% during 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 acquiring an additional 195,876 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Up 1.4 %

Shares of AXP stock traded up $3.42 during trading hours on Friday, reaching $251.18. 1,867,367 shares of the stock were exchanged, compared to its average volume of 2,975,919. The business’s fifty day moving average is $239.68 and its two-hundred day moving average is $230.96. The firm has a market capitalization of $180.67 billion, a P/E ratio of 20.69, a P/E/G ratio of 1.38 and a beta of 1.21. American Express has a 12-month low of $140.91 and a 12-month high of $256.24. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66.

American Express (NYSE:AXP) last posted 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 firm had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. American Express’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.89 earnings per share. As a group, research analysts expect that American Express will post 13.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on AXP. Jefferies Financial Group raised their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Compass Point assumed coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective on the stock. Keefe, Bruyette & Woods raised their target price on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. upped their price target on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Finally, 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 research report on Tuesday, July 9th. Three equities research 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. Based on data from MarketBeat, the company currently has an average 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.