American Express (NYSE:AXP) Stock Holdings Lifted by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its holdings in shares of American Express (NYSE:AXP) by 20.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,481 shares of the payment services company’s stock after buying an additional 590 shares during the period. EverSource Wealth Advisors LLC’s holdings in American Express were worth $881,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sawgrass Asset Management LLC lifted its stake in shares of American Express by 0.4% in the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after buying an additional 41 shares during the last quarter. Ignite Planners LLC lifted its position in American Express by 0.9% during the 2nd quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock worth $1,103,000 after acquiring an additional 43 shares during the last quarter. Willner & Heller LLC lifted its position in American Express by 4.1% during the 2nd quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock worth $252,000 after acquiring an additional 43 shares during the last quarter. Beacon Capital Management LLC boosted its holdings in American Express by 18.9% during the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock valued at $63,000 after acquiring an additional 43 shares during the period. Finally, Capital Wealth Planning LLC grew its position in shares of American Express by 4.0% in the second quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock valued at $257,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

NYSE:AXP opened at $267.29 on Tuesday. The stock has a market capitalization of $192.26 billion, a P/E ratio of 22.02, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 1 year low of $140.91 and a 1 year high of $272.41. The firm has a 50 day moving average of $249.56 and a 200-day moving average of $237.55.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.23. The firm had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.89 EPS. As a group, sell-side analysts anticipate that American Express will post 13.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AXP. JPMorgan Chase & Co. increased their target price on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Jefferies Financial Group increased their price objective on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Compass Point began coverage on shares of American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target for the company. Finally, Royal Bank of Canada boosted their price objective on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, American Express currently has an average rating of “Hold” and an average target price of $230.78.

American Express Company 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.