Prestige Wealth Management Group LLC Acquires 1,434 Shares of American Express (NYSE:AXP)

Prestige Wealth Management Group LLC increased its stake in shares of American Express (NYSE:AXP) by 210.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,116 shares of the payment services company’s stock after acquiring an additional 1,434 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in American Express were worth $490,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Ballentine Partners LLC grew its position in American Express by 4.1% during the second quarter. Ballentine Partners LLC now owns 17,871 shares of the payment services company’s stock worth $4,138,000 after buying an additional 711 shares in the last quarter. Koss Olinger Consulting LLC acquired a new stake in shares of American Express during the 2nd quarter worth approximately $327,000. Caprock Group LLC increased its position in shares of American Express by 39.4% during the second quarter. Caprock Group LLC now owns 18,691 shares of the payment services company’s stock valued at $4,328,000 after purchasing an additional 5,287 shares during the period. Anchor Capital Advisors LLC increased its position in shares of American Express by 18.6% during the second quarter. Anchor Capital Advisors LLC now owns 62,277 shares of the payment services company’s stock valued at $14,420,000 after purchasing an additional 9,769 shares during the period. Finally, Kerusso Capital Management LLC acquired a new position in shares of American Express in the second quarter valued at $3,368,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Trading Down 3.1 %

NYSE:AXP traded down $7.78 during trading hours on Friday, reaching $244.06. The company’s stock had a trading volume of 3,652,963 shares, compared to its average volume of 2,967,115. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market capitalization of $175.55 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.45 and a beta of 1.21. The firm has a 50-day simple moving average of $244.57 and a 200-day simple moving average of $234.15. American Express has a 1 year low of $140.91 and a 1 year high of $261.75.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Bank of America cut shares of American Express from a “buy” rating to a “neutral” rating and set a $263.00 price target for the company. in a research report on Wednesday, August 21st. Barclays upped their price objective on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. raised their target price on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Finally, William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $230.70.

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.