American Express (NYSE:AXP) Holdings Lifted by Solitude Financial Services

Solitude Financial Services increased its holdings in shares of American Express (NYSE:AXP) by 35.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,601 shares of the payment services company’s stock after buying an additional 420 shares during the quarter. Solitude Financial Services’ holdings in American Express were worth $222,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Wesbanco Bank Inc. lifted its stake in shares of American Express by 1.3% in the 1st quarter. Wesbanco Bank Inc. now owns 4,426 shares of the payment services company’s stock valued at $827,000 after purchasing an additional 55 shares during the period. Grove Bank & Trust raised its stake in American Express by 1.7% during the 1st quarter. Grove Bank & Trust now owns 3,472 shares of the payment services company’s stock worth $649,000 after buying an additional 57 shares during the period. NTV Asset Management LLC raised its stake in American Express by 0.7% during the 1st quarter. NTV Asset Management LLC now owns 8,685 shares of the payment services company’s stock worth $1,624,000 after buying an additional 60 shares during the period. St. Johns Investment Management Company LLC raised its stake in American Express by 0.6% during the 1st quarter. St. Johns Investment Management Company LLC now owns 10,031 shares of the payment services company’s stock worth $1,876,000 after buying an additional 63 shares during the period. Finally, Welch Group LLC raised its stake in American Express by 0.5% during the 1st quarter. Welch Group LLC now owns 13,076 shares of the payment services company’s stock worth $2,445,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 84.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Piper Sandler dropped their price objective on American Express from $202.00 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 6th. Barclays raised their price objective on American Express from $157.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, July 25th. Citigroup raised their price objective on American Express from $148.00 to $159.00 in a research note on Tuesday, July 26th. Keefe, Bruyette & Woods dropped their price objective on American Express from $220.00 to $201.00 in a research note on Monday, July 11th. Finally, Wells Fargo & Company dropped their price target on American Express from $215.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $181.53.

American Express Price Performance

Shares of NYSE AXP opened at $153.08 on Monday. The stock has a market capitalization of $114.77 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.19 and a beta of 1.14. The business has a 50-day moving average of $154.14 and a 200-day moving average of $162.56. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a fifty-two week low of $134.12 and a fifty-two week high of $199.55.

American Express (NYSE:AXPGet Rating) last announced its quarterly earnings data on Friday, July 22nd. The payment services company reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.16. The company had revenue of $13.40 billion during the quarter, compared to analysts’ expectations of $12.54 billion. American Express had a return on equity of 32.81% and a net margin of 15.69%. American Express’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.80 EPS. As a group, sell-side analysts predict that American Express will post 9.88 earnings per share for the current fiscal year.

American Express Company Profile

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American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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