Rice Partnership LLC Increases Stock Position in American Express (NYSE:AXP)

Rice Partnership LLC increased its holdings in shares of American Express (NYSE:AXP) by 2.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,795 shares of the payment services company’s stock after purchasing an additional 1,273 shares during the period. American Express accounts for 3.0% of Rice Partnership LLC’s holdings, making the stock its 12th biggest holding. Rice Partnership LLC’s holdings in American Express were worth $13,614,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Sawgrass Asset Management LLC raised its holdings in 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 valued at $2,404,000 after acquiring an additional 41 shares in the last quarter. Spire Wealth Management raised its position in shares of American Express by 1.0% during the 1st quarter. Spire Wealth Management now owns 4,315 shares of the payment services company’s stock worth $983,000 after acquiring an additional 42 shares in the last quarter. Ignite Planners LLC lifted its stake in American Express by 0.9% during the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock worth $1,103,000 after purchasing an additional 43 shares during the last quarter. Willner & Heller LLC boosted its holdings in American Express by 4.1% in the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after purchasing an additional 43 shares in the last quarter. Finally, Beacon Capital Management LLC increased its stake in American Express by 18.9% in the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock valued at $63,000 after purchasing an additional 43 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of AXP stock traded down $1.19 during trading hours on Monday, reaching $258.65. 3,442,100 shares of the company’s stock were exchanged, compared to its average volume of 2,963,972. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. American Express has a 1 year low of $140.91 and a 1 year high of $261.75. The company has a market cap of $183.88 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. The company’s 50 day moving average is $242.42 and its two-hundred day moving average is $232.90.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Barclays upped their target price on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. Royal Bank of Canada raised their price objective on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. William Blair reissued an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Jefferies Financial Group upped their target price on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company lifted their price target on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $230.70.

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.