Greystone Financial Group LLC Has $10.60 Million Holdings in American Express (NYSE:AXP)

Greystone Financial Group LLC grew its position in American Express (NYSE:AXP) by 6.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,785 shares of the payment services company’s stock after buying an additional 2,572 shares during the quarter. American Express accounts for about 2.1% of Greystone Financial Group LLC’s portfolio, making the stock its 13th largest holding. Greystone Financial Group LLC’s holdings in American Express were worth $10,602,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Game Plan Financial Advisors LLC raised its holdings in shares of American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after buying an additional 50 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of American Express during the fourth quarter valued at about $25,000. Sachetta LLC acquired a new position in shares of American Express in the fourth quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in American Express during the 4th quarter worth approximately $29,000. Finally, DHJJ Financial Advisors Ltd. grew its stake in shares of American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Stock Down 3.1 %

NYSE:AXP traded down $7.78 during trading hours on Friday, hitting $244.06. 3,652,963 shares of the company traded hands, compared to its average volume of 2,967,115. American Express has a one year low of $140.91 and a one year high of $261.75. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The company has a market cap of $175.55 billion, a PE ratio of 20.11, a PEG ratio of 1.45 and a beta of 1.21. The firm’s 50-day simple moving average is $244.57 and its 200-day simple moving average is $234.00.

American Express (NYSE:AXP) last released its quarterly earnings results 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. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same period last year, the firm earned $2.89 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. Equities analysts predict that American Express will post 13.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AXP shares. Monness Crespi & Hardt raised their target price on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their target price on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. BTIG Research began coverage on shares of American Express in a report on Friday, June 7th. They set a “neutral” rating for the company. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Finally, Compass Point initiated coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price for the company. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, American Express currently has an average rating of “Hold” and an average price target 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.