Sage Mountain Advisors LLC Purchases 746 Shares of American Express (NYSE:AXP)

Sage Mountain Advisors LLC lifted its holdings in American Express (NYSE:AXP) by 27.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,436 shares of the payment services company’s stock after purchasing an additional 746 shares during the quarter. Sage Mountain Advisors LLC’s holdings in American Express were worth $795,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AXP. Ieq Capital LLC raised its holdings in American Express by 11.2% during the fourth quarter. Ieq Capital LLC now owns 23,030 shares of the payment services company’s stock worth $4,314,000 after acquiring an additional 2,319 shares in the last quarter. US Asset Management LLC bought a new position in shares of American Express in the fourth quarter valued at $657,000. MeadowBrook Investment Advisors LLC acquired a new position in American Express during the fourth quarter worth $1,098,000. Cetera Advisors LLC lifted its stake in American Express by 119.6% in the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock valued at $8,993,000 after acquiring an additional 21,508 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of American Express by 102.9% in the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock valued at $2,842,000 after acquiring an additional 6,329 shares during the period. Institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of recent analyst reports. William Blair reissued an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Compass Point assumed coverage on American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price on the stock. Monness Crespi & Hardt raised their price target on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. upped their price objective on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Finally, Bank of America lowered shares of American Express from a “buy” rating to a “neutral” rating and set a $263.00 price objective on the stock. in a research report on Wednesday, August 21st. 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’s stock. According to data from MarketBeat, American Express presently has an average rating of “Hold” and an average price target of $230.70.

American Express Stock Down 0.5 %

AXP stock opened at $258.65 on Friday. American Express has a 52 week low of $140.91 and a 52 week high of $261.75. The business has a 50-day simple moving average of $242.42 and a 200 day simple moving average of $232.75. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The company has a market cap of $183.88 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. During the same period in the previous year, the company earned $2.89 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. Sell-side analysts anticipate 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.