Burney Co. Boosts Stock Holdings in American Express (NYSE:AXP)

Burney Co. lifted its position in American Express (NYSE:AXP) by 5.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,676 shares of the payment services company’s stock after acquiring an additional 90 shares during the period. Burney Co.’s holdings in American Express were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Global Wealth Management Investment Advisory Inc. grew its position in shares of American Express by 5.5% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 11,587 shares of the payment services company’s stock valued at $2,171,000 after purchasing an additional 609 shares in the last quarter. Ieq Capital LLC raised its position in American Express by 11.2% in the fourth quarter. Ieq Capital LLC now owns 23,030 shares of the payment services company’s stock valued at $4,314,000 after purchasing an additional 2,319 shares during the period. US Asset Management LLC acquired a new position in shares of American Express in the 4th quarter valued at $657,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of American Express during the 4th quarter worth about $1,098,000. Finally, Cetera Advisors LLC raised its holdings in American Express by 119.6% in the 1st quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock valued at $8,993,000 after buying an additional 21,508 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of recent analyst reports. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. BTIG Research began coverage on shares of American Express in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Citigroup initiated coverage on shares of American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price objective for the company. Barclays boosted their price target on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Finally, 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 research note on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $230.70.

American Express Price Performance

Shares of AXP stock traded up $2.75 during trading hours on Thursday, hitting $259.84. The company’s stock had a trading volume of 2,277,074 shares, compared to its average volume of 2,960,232. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The business has a fifty day moving average of $240.70 and a 200-day moving average of $231.90. American Express has a twelve month low of $140.91 and a twelve month high of $261.57. The stock has a market cap of $186.90 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 1.38 and a beta of 1.21.

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, topping analysts’ consensus estimates 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 return on equity of 32.94% and a net margin of 15.53%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.89 earnings per share. As a group, equities research analysts anticipate that American Express will post 13.24 EPS for the current 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.