Kerusso Capital Management LLC Invests $3.37 Million in American Express (NYSE:AXP)

Kerusso Capital Management LLC purchased a new stake in shares of American Express (NYSE:AXP) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 14,547 shares of the payment services company’s stock, valued at approximately $3,368,000. American Express comprises about 2.4% of Kerusso Capital Management LLC’s investment portfolio, making the stock its 10th largest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new stake in shares of American Express in the fourth quarter worth approximately $25,000. Sachetta LLC purchased a new stake in American Express in the fourth quarter worth $29,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of American Express during the fourth quarter worth $29,000. Game Plan Financial Advisors LLC boosted its stake in shares of American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after purchasing an additional 50 shares during the period. Finally, Creekmur Asset Management LLC bought a new position in shares of American Express in the fourth quarter worth about $32,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Down 3.1 %

American Express stock opened at $244.06 on Friday. The business has a fifty day moving average price of $244.57 and a 200-day moving average price of $234.15. American Express has a 1-year low of $140.91 and a 1-year high of $261.75. The stock has a market capitalization of $175.55 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 1.45 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $16.60 billion. During the same quarter last year, the company earned $2.89 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. Equities research analysts forecast that American Express will post 13.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AXP. Compass Point began coverage on shares of American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective for the company. Monness Crespi & Hardt lifted their price target on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Barclays increased their price objective on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Citigroup began coverage on American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 price objective on the stock. Finally, BTIG Research started coverage on American Express in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $230.70.

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.