Farther Finance Advisors LLC Purchases 1,468 Shares of American Express (NYSE:AXP)

Farther Finance Advisors LLC increased its position in shares of American Express (NYSE:AXP) by 54.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,175 shares of the payment services company’s stock after acquiring an additional 1,468 shares during the quarter. Farther Finance Advisors LLC’s holdings in American Express were worth $976,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AXP. Norges Bank acquired a new stake in shares of American Express in the 4th quarter worth $1,112,747,000. Alphinity Investment Management Pty Ltd purchased a new stake in shares of American Express during the first quarter worth about $433,709,000. TD Asset Management Inc increased its holdings in shares of American Express by 62.1% during the fourth quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock valued at $449,521,000 after acquiring an additional 919,337 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of American Express by 21.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock valued at $713,202,000 after purchasing an additional 667,695 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in American Express by 8.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after purchasing an additional 662,382 shares in 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 research analysts have issued reports on AXP shares. BTIG Research started coverage on shares of American Express in a report on Friday, June 7th. They issued a “neutral” rating for the company. Royal Bank of Canada lifted their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. William Blair reissued an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Bank of America lowered American Express from a “buy” rating to a “neutral” rating and set a $263.00 target price on the stock. in a research report on Wednesday, August 21st. Finally, Barclays raised their price target on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $230.70.

American Express Trading Down 0.5 %

AXP stock opened at $258.65 on Monday. American Express has a 12-month low of $140.91 and a 12-month high of $261.75. The business’s 50-day moving average is $242.42 and its 200 day moving average is $232.90. 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 has a market cap of $183.88 billion, a price-to-earnings ratio of 21.31, a PEG ratio of 1.45 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.26 by $0.23. The firm had revenue of $16.33 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business earned $2.89 earnings per share. On average, sell-side analysts anticipate that American Express will post 13.12 EPS for the current fiscal year.

About American Express

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.