Cowa LLC purchased a new stake in American Express (NYSE:AXP) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,129 shares of the payment services company’s stock, valued at approximately $211,000.
Several other large investors have also recently bought and sold shares of AXP. Norges Bank bought a new stake in American Express in the fourth quarter worth $993,440,000. Invesco Ltd. lifted its stake in American Express by 19.2% in the first quarter. Invesco Ltd. now owns 6,416,785 shares of the payment services company’s stock worth $1,199,937,000 after purchasing an additional 1,032,350 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in American Express by 7.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 13,392,391 shares of the payment services company’s stock worth $2,504,375,000 after purchasing an additional 906,904 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in American Express by 112.7% in the first quarter. Lord Abbett & CO. LLC now owns 1,293,577 shares of the payment services company’s stock worth $241,901,000 after purchasing an additional 685,478 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its stake in American Express by 1,051.6% in the fourth quarter. Guggenheim Capital LLC now owns 578,461 shares of the payment services company’s stock worth $94,636,000 after purchasing an additional 528,228 shares during the last quarter. 84.10% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have issued reports on AXP. Robert W. Baird upgraded shares of American Express from a “neutral” rating to an “outperform” rating and set a $175.00 price objective on the stock in a research report on Friday, June 17th. Keefe, Bruyette & Woods decreased their price objective on shares of American Express from $220.00 to $201.00 in a research report on Monday, July 11th. Wells Fargo & Company decreased their price objective on shares of American Express from $215.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. Barclays boosted their price objective on shares of American Express from $157.00 to $160.00 and gave the company an “equal weight” rating in a research report on Monday, July 25th. Finally, Edward Jones upgraded shares of American Express from a “hold” rating to a “buy” rating in a research report on Monday, June 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, American Express has an average rating of “Hold” and a consensus target price of $181.53.
American Express Trading Down 4.4 %
American Express (NYSE:AXP – Get Rating) last posted its quarterly earnings data on Friday, July 22nd. The payment services company reported $2.57 EPS 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 analyst estimates of $12.54 billion. American Express had a net margin of 15.69% and a return on equity of 32.81%. American Express’s quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.80 earnings per share. As a group, analysts forecast that American Express will post 9.87 EPS for the current fiscal year.
About American Express
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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