Ashton Thomas Private Wealth LLC Purchases 793 Shares of American Express (NYSE:AXP)

Ashton Thomas Private Wealth LLC boosted its holdings in shares of American Express (NYSE:AXP) by 11.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 7,901 shares of the payment services company’s stock after acquiring an additional 793 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in American Express were worth $1,829,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Citigroup assumed coverage on shares of American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 target price on the stock. Compass Point initiated coverage on American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective on the stock. Bank of America lowered 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. boosted their target price on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Finally, BTIG Research began coverage on American Express in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $230.70.

American Express Price Performance

Shares of AXP opened at $250.92 on Tuesday. The stock has a market capitalization of $180.49 billion, a P/E ratio of 20.67, a P/E/G ratio of 1.37 and a beta of 1.21. American Express has a twelve month low of $140.91 and a twelve month high of $261.75. The company has a 50 day moving average of $244.91 and a 200-day moving average of $234.57. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

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

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.