Strategic Financial Concepts LLC Takes Position in American Express (NYSE:AXP)

Strategic Financial Concepts LLC bought a new position in shares of American Express (NYSE:AXP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 85,396 shares of the payment services company’s stock, valued at approximately $19,773,000.

A number of other large investors have also recently bought and sold shares of AXP. Ieq Capital LLC lifted its holdings in American Express by 11.2% in the fourth quarter. Ieq Capital LLC now owns 23,030 shares of the payment services company’s stock valued at $4,314,000 after acquiring an additional 2,319 shares during the period. Cetera Advisors LLC increased its stake in shares of American Express by 119.6% in the 1st quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock valued at $8,993,000 after purchasing an additional 21,508 shares in the last quarter. Empowered Funds LLC raised its holdings in American Express by 102.9% in the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock worth $2,842,000 after purchasing an additional 6,329 shares during the period. Sciencast Management LP acquired a new position in American Express in the 1st quarter worth about $1,881,000. Finally, New Mexico Educational Retirement Board lifted its position in shares of American Express by 15.5% during the 1st quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock valued at $8,143,000 after buying an additional 4,800 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Trading Down 3.1 %

AXP opened at $244.06 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a market cap of $175.55 billion, a P/E ratio of 20.10, a P/E/G ratio of 1.45 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 business has a fifty day simple moving average of $244.57 and a 200-day simple moving average of $234.15.

American Express (NYSE:AXP) last released its earnings results 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 company had revenue of $16.33 billion for 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 quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.89 EPS. On average, equities analysts expect that American Express will post 13.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Compass Point assumed coverage on shares of American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target for the company. Wells Fargo & Company raised their target price on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Citigroup initiated coverage on American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target on the stock. Royal Bank of Canada raised their price objective on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Jefferies Financial Group increased their price target on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price 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.