Main Street Financial Solutions LLC Purchases 54 Shares of American Express (NYSE:AXP)

Main Street Financial Solutions LLC boosted its position in shares of American Express (NYSE:AXP) by 5.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 962 shares of the payment services company’s stock after purchasing an additional 54 shares during the period. Main Street Financial Solutions LLC’s holdings in American Express were worth $223,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in American Express in the fourth quarter valued at about $1,112,747,000. Alphinity Investment Management Pty Ltd bought a new stake in shares of American Express during the 1st quarter valued at approximately $433,709,000. TD Asset Management Inc increased its position in American Express by 62.1% during the 4th quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after purchasing an additional 919,337 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in American Express by 8.5% in the 1st 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 purchasing an additional 662,382 shares during the last quarter. Finally, Bank of Nova Scotia boosted its position in American Express by 969.9% in 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 buying an additional 546,389 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AXP shares. Monness Crespi & Hardt upped their price target on shares of American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Compass Point initiated coverage on shares of American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target for the company. Keefe, Bruyette & Woods lifted their price target on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Royal Bank of Canada increased their price objective on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Citigroup assumed coverage on American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $230.70.

American Express Trading Up 1.5 %

Shares of American Express stock opened at $259.00 on Friday. The stock has a market capitalization 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 stock has a 50 day moving average price of $246.33 and a two-hundred day moving average price of $235.48. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 EPS 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 business had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. During the same quarter in the previous year, the business posted $2.89 EPS. American Express’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, equities analysts anticipate that American Express will post 13.12 earnings per share 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.