American Express (NYSE:AXP) Stake Lessened by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its stake in shares of American Express (NYSE:AXP) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,558,651 shares of the payment services company’s stock after selling 196,904 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in American Express were worth $2,213,306,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AXP. Capital Wealth Planning LLC increased its holdings in 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 buying an additional 43 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of American Express in the 2nd quarter worth approximately $400,000. Plato Investment Management Ltd increased its holdings in shares of American Express by 2.7% in the 2nd quarter. Plato Investment Management Ltd now owns 22,396 shares of the payment services company’s stock valued at $5,186,000 after acquiring an additional 590 shares during the last quarter. Wilkins Investment Counsel Inc. raised its position in shares of American Express by 1.6% during the 2nd quarter. Wilkins Investment Counsel Inc. now owns 11,082 shares of the payment services company’s stock valued at $2,566,000 after acquiring an additional 170 shares in the last quarter. Finally, Diversify Wealth Management LLC bought a new position in American Express during the second quarter worth $3,516,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Up 1.5 %

Shares of AXP stock opened at $259.00 on Monday. 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 stock has a market cap of $186.30 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The business’s fifty day moving average is $246.33 and its 200-day moving average is $235.60. American Express has a 1 year low of $140.91 and a 1 year high of $261.75.

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. 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 for the quarter, compared to analysts’ expectations of $16.60 billion. American Express’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.89 earnings per share. Equities analysts expect that American Express will post 13.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

AXP has been the topic of a number of research reports. Bank of America cut shares of American Express from a “buy” rating to a “neutral” rating and set a $263.00 target price on the stock. in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised their target price on shares of American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Citigroup started coverage on American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 target price for the company. Wells Fargo & Company boosted their price objective on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Barclays increased their target price on 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 research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently 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.