Thoroughbred Financial Services LLC Acquires 3,853 Shares of American Express (NYSE:AXP)

Thoroughbred Financial Services LLC raised its holdings in shares of American Express (NYSE:AXP) by 102.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,614 shares of the payment services company’s stock after acquiring an additional 3,853 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in American Express were worth $1,763,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AXP. Norges Bank purchased a new stake in American Express during the 4th quarter worth about $1,112,747,000. Alphinity Investment Management Pty Ltd bought a new stake in shares of American Express during the first quarter valued at about $433,709,000. TD Asset Management Inc lifted its holdings in shares of American Express by 62.1% in the fourth quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after buying an additional 919,337 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after acquiring an additional 662,382 shares during the period. Finally, Bank of Nova Scotia grew its stake in American Express by 969.9% during the fourth quarter. Bank of Nova Scotia now owns 602,726 shares of the payment services company’s stock valued at $112,910,000 after acquiring an additional 546,389 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on AXP shares. Citigroup assumed coverage on shares of American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target for the company. Keefe, Bruyette & Woods boosted their target price on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. JPMorgan Chase & Co. upped their target price on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. Bank of America lowered American Express from a “buy” rating to a “neutral” rating and set a $263.00 price objective for the company. in a report on Wednesday, August 21st. Finally, Wells Fargo & Company raised their target price on shares of American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $230.70.

American Express Price Performance

Shares of AXP stock opened at $259.00 on Friday. The stock has a market capitalization of $186.30 billion, a price-to-earnings ratio of 21.33, a P/E/G ratio of 1.42 and a beta of 1.21. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a twelve month low of $140.91 and a twelve month high of $261.75. The stock has a fifty day simple moving average of $246.33 and a two-hundred day simple moving average of $235.48.

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 analysts’ consensus estimates of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same quarter in the previous year, the firm earned $2.89 earnings per share. The company’s revenue was up 9.2% on a year-over-year basis. On average, analysts predict that American Express will post 13.12 EPS for the current fiscal year.

American Express Company 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.