SouthState Corp Acquires 231 Shares of American Express (NYSE:AXP)

SouthState Corp boosted its holdings in shares of American Express (NYSE:AXP) by 1.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,854 shares of the payment services company’s stock after buying an additional 231 shares during the period. SouthState Corp’s holdings in American Express were worth $3,208,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Spire Wealth Management raised its stake in shares of American Express by 5.1% in the 4th quarter. Spire Wealth Management now owns 4,273 shares of the payment services company’s stock valued at $783,000 after acquiring an additional 209 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in American Express by 4.7% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,279 shares of the payment services company’s stock worth $802,000 after acquiring an additional 192 shares during the period. Gryphon Financial Partners LLC bought a new stake in American Express during the fourth quarter valued at about $224,000. EdgeRock Capital LLC acquired a new stake in shares of American Express in the fourth quarter valued at about $63,000. Finally, Catalyst Financial Partners LLC increased its stake in shares of American Express by 11.2% in the fourth quarter. Catalyst Financial Partners LLC now owns 1,976 shares of the payment services company’s stock worth $370,000 after purchasing an additional 199 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on AXP shares. Citigroup started coverage on American Express in a research note on Monday, June 10th. They set a “neutral” rating and a $250.00 target price for the company. Wells Fargo & Company increased their price target on shares of American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Bank of America downgraded shares of American Express from a “buy” rating to a “neutral” rating and set a $263.00 price objective on the stock. in a report on Wednesday, August 21st. William Blair reissued an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Finally, Royal Bank of Canada upped their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, American Express has a consensus rating of “Hold” and an average target price of $230.70.

American Express Trading Down 1.1 %

NYSE:AXP traded down $2.84 during mid-day trading on Thursday, hitting $248.90. The company had a trading volume of 528,250 shares, compared to its average volume of 2,950,341. The firm has a market cap of $179.03 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.45 and a beta of 1.21. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $261.75. The business’s fifty day moving average is $243.86 and its two-hundred day moving average is $233.65. 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 announced 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 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%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.89 EPS. As a group, research analysts expect that American Express will post 13.12 earnings per share 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.