Pinnacle Wealth Management LLC Boosts Stock Position in American Express (NYSE:AXP)

Pinnacle Wealth Management LLC raised its position in shares of American Express (NYSE:AXP) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,782 shares of the payment services company’s stock after purchasing an additional 301 shares during the quarter. American Express accounts for 2.5% of Pinnacle Wealth Management LLC’s portfolio, making the stock its 19th largest position. Pinnacle Wealth Management LLC’s holdings in American Express were worth $2,033,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AXP. International Assets Investment Management LLC grew its stake in American Express by 0.8% during the 4th quarter. International Assets Investment Management LLC now owns 54,832 shares of the payment services company’s stock valued at $10,272,000 after purchasing an additional 433 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in American Express during the 4th quarter valued at about $213,000. Silver Oak Securities Incorporated purchased a new stake in American Express during the 4th quarter valued at about $215,000. Choreo LLC boosted its stake in shares of American Express by 23.2% in the fourth quarter. Choreo LLC now owns 5,640 shares of the payment services company’s stock worth $1,057,000 after buying an additional 1,063 shares during the last quarter. Finally, Cozad Asset Management Inc. boosted its stake in shares of American Express by 14.3% in the fourth quarter. Cozad Asset Management Inc. now owns 1,958 shares of the payment services company’s stock worth $367,000 after buying an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AXP shares. Monness Crespi & Hardt upped their target price on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Bank of America cut American Express from a “buy” rating to a “neutral” rating and set a $263.00 price target for the company. in a report on Wednesday, August 21st. BTIG Research started coverage on American Express in a report on Friday, June 7th. They issued a “neutral” rating for the company. Wells Fargo & Company upped their price target on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. upped their price target on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $230.70.

American Express Trading Down 0.5 %

American Express stock traded down $1.19 during mid-day trading on Friday, hitting $258.65. The company’s stock had a trading volume of 3,442,125 shares, compared to its average volume of 2,963,967. The firm has a market capitalization of $186.05 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 1.38 and a beta of 1.21. American Express has a 1 year low of $140.91 and a 1 year 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’s fifty day moving average is $241.85 and its two-hundred day moving average is $232.27.

American Express (NYSE:AXP) last issued its quarterly earnings data 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. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.89 earnings per share. On average, analysts anticipate that American Express will post 13.24 EPS for the current year.

American Express 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.