American Express (NYSE:AXP) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital increased its holdings in American Express (NYSE:AXP) by 21.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,688 shares of the payment services company’s stock after buying an additional 653 shares during the period. Wedmont Private Capital’s holdings in American Express were worth $511,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of AXP. Financial Management Network Inc. lifted its position in American Express by 3.1% in the 2nd quarter. Financial Management Network Inc. now owns 3,647 shares of the payment services company’s stock valued at $512,000 after purchasing an additional 110 shares during the last quarter. American National Bank bought a new stake in American Express in the 2nd quarter valued at about $79,000. Brookstone Capital Management lifted its position in American Express by 4.1% in the 2nd quarter. Brookstone Capital Management now owns 10,174 shares of the payment services company’s stock valued at $1,442,000 after purchasing an additional 401 shares during the last quarter. Radnor Capital Management LLC lifted its position in American Express by 11.0% in the 2nd quarter. Radnor Capital Management LLC now owns 4,635 shares of the payment services company’s stock valued at $643,000 after purchasing an additional 460 shares during the last quarter. Finally, FOCUS Wealth Advisors LLC lifted its position in American Express by 1.7% in the 2nd quarter. FOCUS Wealth Advisors LLC now owns 10,919 shares of the payment services company’s stock valued at $1,514,000 after purchasing an additional 186 shares during the last quarter. 84.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AXP. Keefe, Bruyette & Woods cut their price objective on shares of American Express from $220.00 to $201.00 in a research report on Monday, July 11th. Piper Sandler dropped their price target on shares of American Express from $202.00 to $163.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 6th. Morgan Stanley boosted their price target on shares of American Express from $143.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Monday, July 25th. Barclays boosted their price target on shares of American Express from $157.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, July 25th. Finally, Oppenheimer set a $184.00 price target on shares of American Express in a research report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $181.53.

American Express Stock Down 2.0 %

NYSE AXP opened at $153.08 on Monday. The company’s 50 day simple moving average is $154.14 and its 200 day simple moving average is $162.68. The company has a market capitalization of $114.77 billion, a P/E ratio of 15.70, a PEG ratio of 1.19 and a beta of 1.14. 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 12 month low of $134.12 and a 12 month high of $199.55.

American Express (NYSE:AXPGet Rating) last released its earnings results on Friday, July 22nd. The payment services company reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.16. The business had revenue of $13.40 billion for the quarter, compared to the consensus estimate of $12.54 billion. American Express had a net margin of 15.69% and a return on equity of 32.81%. The firm’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same period last year, the firm posted $2.80 earnings per share. Equities research analysts expect that American Express will post 9.88 earnings per share for the current fiscal year.

About American Express

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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.

See Also

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

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