Lincoln National Corp Grows Stock Position in American Express (NYSE:AXP)

Lincoln National Corp boosted its stake in American Express (NYSE:AXP) by 34.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,923 shares of the payment services company’s stock after acquiring an additional 7,132 shares during the quarter. Lincoln National Corp’s holdings in American Express were worth $5,222,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FDx Advisors Inc. boosted its stake in shares of American Express by 15.3% during the 4th quarter. FDx Advisors Inc. now owns 9,489 shares of the payment services company’s stock valued at $1,552,000 after buying an additional 1,256 shares during the last quarter. Summit Global Investments boosted its stake in shares of American Express by 421.5% during the 1st quarter. Summit Global Investments now owns 8,522 shares of the payment services company’s stock valued at $1,594,000 after buying an additional 6,888 shares during the last quarter. 1900 Wealth Management LLC boosted its stake in shares of American Express by 5.1% during the 1st quarter. 1900 Wealth Management LLC now owns 2,268 shares of the payment services company’s stock valued at $424,000 after buying an additional 111 shares during the last quarter. Global Trust Asset Management LLC boosted its stake in shares of American Express by 50.4% during the 1st quarter. Global Trust Asset Management LLC now owns 1,444 shares of the payment services company’s stock valued at $270,000 after buying an additional 484 shares during the last quarter. Finally, Round Rock Advisors LLC purchased a new position in shares of American Express during the 1st quarter valued at approximately $318,000. Hedge funds and other institutional investors own 85.49% of the company’s stock.

Insider Activity

In related news, Director Theodore Leonsis sold 4,005 shares of the firm’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $166.63, for a total transaction of $667,353.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

AXP has been the topic of several research analyst reports. Barclays raised their price objective on American Express from $157.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, July 25th. Wells Fargo & Company reduced their price objective on American Express from $215.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th. Piper Sandler reduced their price objective on American Express from $202.00 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 6th. Robert W. Baird upgraded American Express from a “neutral” rating to an “outperform” rating and set a $175.00 price objective on the stock in a research note on Friday, June 17th. Finally, Oppenheimer set a $184.00 price objective on American Express in a research note on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Express has an average rating of “Hold” and a consensus price target of $181.53.

American Express Price Performance

Shares of AXP opened at $157.51 on Friday. The firm has a market capitalization of $118.09 billion, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 1.22 and a beta of 1.15. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.63 and a current ratio of 1.63. American Express has a one year low of $134.12 and a one year high of $199.55. The stock’s fifty day moving average is $149.59 and its 200-day moving average is $168.36.

American Express (NYSE:AXPGet Rating) last issued its quarterly earnings results on Friday, July 22nd. The payment services company reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.16. The company had revenue of $13.40 billion for the quarter, compared to analyst estimates of $12.54 billion. American Express had a return on equity of 32.81% and a net margin of 15.69%. The company’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same period last year, the company earned $2.80 earnings per share. Equities analysts anticipate that American Express will post 9.74 EPS for the current year.

About American Express

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American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

See Also

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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