Bigelow Investment Advisors LLC Lowers Stock Holdings in American Express (NYSE:AXP)

Bigelow Investment Advisors LLC lessened its holdings in shares of American Express (NYSE:AXP) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,980 shares of the payment services company’s stock after selling 51 shares during the quarter. American Express makes up about 1.1% of Bigelow Investment Advisors LLC’s investment portfolio, making the stock its 20th biggest position. Bigelow Investment Advisors LLC’s holdings in American Express were worth $2,311,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Thoroughbred Financial Services LLC boosted its position in shares of American Express by 102.4% in the second quarter. Thoroughbred Financial Services LLC now owns 7,614 shares of the payment services company’s stock worth $1,763,000 after acquiring an additional 3,853 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of American Express by 1.4% during the 2nd quarter. Parallel Advisors LLC now owns 11,031 shares of the payment services company’s stock valued at $2,554,000 after buying an additional 147 shares during the period. Zions Bancorporation N.A. increased its holdings in shares of American Express by 330.6% during the 2nd quarter. Zions Bancorporation N.A. now owns 7,295 shares of the payment services company’s stock worth $1,689,000 after buying an additional 5,601 shares during the last quarter. Federated Hermes Inc. boosted its holdings in American Express by 357.1% in the second quarter. Federated Hermes Inc. now owns 218,010 shares of the payment services company’s stock valued at $50,480,000 after acquiring an additional 170,316 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its position in American Express by 39.1% during the second quarter. Meeder Advisory Services Inc. now owns 13,099 shares of the payment services company’s stock valued at $3,033,000 after acquiring an additional 3,682 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Up 1.5 %

NYSE:AXP opened at $259.07 on Friday. The firm has a market capitalization of $186.35 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. American Express has a 52 week low of $140.91 and a 52 week high of $261.75. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The stock has a 50 day moving average of $246.33 and a 200-day moving average of $235.36.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same period last year, the company earned $2.89 earnings per share. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. Analysts predict that American Express will post 13.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on AXP. Citigroup initiated coverage on shares of American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target on the stock. William Blair reissued an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Barclays upped their target price on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. raised their target price on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Finally, Keefe, Bruyette & Woods upped their price target on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, American Express presently has an average rating of “Hold” and a consensus price target of $230.70.

About American Express

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.