Massmutual Trust Co. FSB ADV Trims Position in American Express (NYSE:AXP)

Massmutual Trust Co. FSB ADV decreased its position in American Express (NYSE:AXP) by 7.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,738 shares of the payment services company’s stock after selling 686 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in American Express were worth $1,211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of American Express during the 4th quarter valued at $993,440,000. Invesco Ltd. lifted its position in American Express by 19.2% during the first quarter. Invesco Ltd. now owns 6,416,785 shares of the payment services company’s stock valued at $1,199,937,000 after purchasing an additional 1,032,350 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in American Express by 7.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 13,392,391 shares of the payment services company’s stock valued at $2,504,375,000 after purchasing an additional 906,904 shares during the period. Lord Abbett & CO. LLC increased its position 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 buying an additional 685,478 shares in the last quarter. Finally, Guggenheim Capital LLC raised its stake in shares of 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 buying an additional 528,228 shares during the period. 84.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AXP shares. Keefe, Bruyette & Woods cut their price objective on American Express from $220.00 to $201.00 in a research note on Monday, July 11th. Citigroup upped their price target on shares of American Express from $148.00 to $159.00 in a research report on Tuesday, July 26th. 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. Edward Jones raised shares of American Express from a “hold” rating to a “buy” rating in a report on Monday, June 6th. Finally, Piper Sandler decreased their price target on American Express from $202.00 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, American Express presently has an average rating of “Hold” and an average price target of $181.53.

American Express Stock Down 2.0 %

NYSE AXP opened at $153.08 on Friday. The stock has a 50 day moving average price of $154.14 and a 200-day moving average price of $162.80. American Express has a one year low of $134.12 and a one year high of $199.55. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $114.77 billion, a P/E ratio of 15.70, a P/E/G ratio of 1.21 and a beta of 1.14.

American Express (NYSE:AXPGet Rating) last released its quarterly earnings data on Friday, July 22nd. The payment services company reported $2.57 EPS for the quarter, beating the consensus estimate of $2.41 by $0.16. American Express had a net margin of 15.69% and a return on equity of 32.81%. The business had revenue of $13.40 billion during the quarter, compared to analyst estimates of $12.54 billion. During the same quarter last year, the business earned $2.80 earnings per share. American Express’s quarterly revenue was up 30.8% compared to the same quarter last year. As a group, equities analysts predict that American Express will post 9.87 EPS for the current fiscal year.

American Express Company Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXPGet Rating).

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

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.