Commonwealth Equity Services LLC Has $68.95 Million Holdings in American Express (NYSE:AXP)

Commonwealth Equity Services LLC boosted its holdings in shares of American Express (NYSE:AXP) by 4.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,775 shares of the payment services company’s stock after purchasing an additional 12,813 shares during the period. Commonwealth Equity Services LLC’s holdings in American Express were worth $68,950,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. International Assets Investment Management LLC lifted its position in shares of American Express by 0.8% during the fourth quarter. International Assets Investment Management LLC now owns 54,832 shares of the payment services company’s stock worth $10,272,000 after purchasing an additional 433 shares in the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new position in American Express during the 4th quarter worth $213,000. Essex Financial Services Inc. boosted its position in American Express by 2.7% in the 4th quarter. Essex Financial Services Inc. now owns 3,920 shares of the payment services company’s stock valued at $735,000 after buying an additional 104 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of American Express by 10.7% in the 4th quarter. First Horizon Advisors Inc. now owns 8,535 shares of the payment services company’s stock valued at $1,599,000 after buying an additional 828 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in shares of American Express by 18.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 193,261 shares of the payment services company’s stock worth $36,206,000 after acquiring an additional 30,576 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Stock Down 0.5 %

NYSE AXP traded down $1.19 on Friday, reaching $258.65. The company had a trading volume of 3,442,125 shares, compared to its average volume of 2,963,967. The company’s fifty day moving average is $242.42 and its 200-day moving average is $232.59. American Express has a 1-year low of $140.91 and a 1-year high of $261.75. The firm has a market capitalization of $186.05 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 1.38 and a beta of 1.21. 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 data on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. American Express’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the company earned $2.89 earnings per share. On average, research analysts forecast that American Express will post 13.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays raised their price target on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their price target on shares of American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Royal Bank of Canada increased their price objective on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Monness Crespi & Hardt lifted their target price on shares of American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Wells Fargo & Company upped their target price on shares of American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Three 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 stock. According to MarketBeat, American Express presently has an average rating of “Hold” and a consensus target price of $230.70.

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.