Parallel Advisors LLC Purchases 147 Shares of American Express (NYSE:AXP)

Parallel Advisors LLC raised its position in shares of American Express (NYSE:AXP) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,031 shares of the payment services company’s stock after purchasing an additional 147 shares during the period. Parallel Advisors LLC’s holdings in American Express were worth $2,554,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AXP. Sawgrass Asset Management LLC raised its holdings in shares of American Express by 0.4% during the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after buying an additional 41 shares in the last quarter. Spire Wealth Management grew its position in American Express by 1.0% in the first 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 stake in American Express by 0.9% during the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock worth $1,103,000 after acquiring an additional 43 shares in the last quarter. Willner & Heller LLC lifted its holdings in shares of American Express by 4.1% in the second 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 boosted its stake in shares of American Express by 18.9% in the 2nd 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 in the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Price Performance

Shares of AXP opened at $259.00 on Friday. The firm 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. American Express has a 52-week low of $140.91 and a 52-week high of $261.75. 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 business’s 50 day moving average price is $246.33 and its two-hundred day moving average price is $235.48.

American Express (NYSE:AXP) last released its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The company had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. American Express’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.89 EPS. On average, equities analysts anticipate that American Express will post 13.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AXP shares. Royal Bank of Canada upped their price objective on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Citigroup began coverage on shares of American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 price target for the company. Compass Point assumed coverage on American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective on the stock. BTIG Research assumed coverage on American Express in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, William Blair reiterated an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Three investment 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. According to data from MarketBeat.com, the stock presently has a consensus 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.