Meiji Yasuda Life Insurance Co Reduces Stock Position in American Express (NYSE:AXP)

Meiji Yasuda Life Insurance Co lessened its stake in American Express (NYSE:AXP) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,261 shares of the payment services company’s stock after selling 219 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in American Express were worth $3,765,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Gryphon Financial Partners LLC bought a new stake in shares of American Express in the 4th quarter valued at approximately $224,000. Prairieview Wealth Partners LLC bought a new stake in American Express during the fourth quarter valued at $341,000. Level Four Advisory Services LLC raised its holdings in shares of American Express by 2.3% during the fourth quarter. Level Four Advisory Services LLC now owns 2,188 shares of the payment services company’s stock worth $410,000 after purchasing an additional 50 shares during the period. Gladstone Institutional Advisory LLC lifted its position in shares of American Express by 4.2% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 13,321 shares of the payment services company’s stock worth $2,496,000 after buying an additional 531 shares during the last quarter. Finally, Sachetta LLC acquired a new position in shares of American Express in the 4th quarter valued at about $29,000. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 1.7 %

NYSE AXP opened at $265.49 on Wednesday. American Express has a 12 month low of $140.91 and a 12 month high of $267.22. The company has a market capitalization of $190.97 billion, a P/E ratio of 21.87, a PEG ratio of 1.42 and a beta of 1.21. The company’s 50 day simple moving average is $247.42 and its 200 day simple moving average is $236.22. 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 (NYSE:AXP) last posted its quarterly earnings results 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. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. During the same quarter in the prior year, the company earned $2.89 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. Equities research analysts expect that American Express will post 13.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on AXP. JPMorgan Chase & Co. increased their price objective on shares of American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. Royal Bank of Canada increased their target price on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Bank of America boosted their price target on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays lifted their price objective on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 9th. Finally, Monness Crespi & Hardt boosted their target price on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $230.78.

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.