Hardy Reed LLC Acquires New Shares in American Express Company

Hardy Reed LLC has acquired new shares in American Express Company (NYSE:AXP) for approximately $2,819,000. The institutional investor purchased 8,334 shares of AXP's stock during the second quarter.

This is not an isolated move as several other hedge funds and institutional investors have recently added to or reduced their stakes in American Express. Evolution Wealth Management Inc., for example, boosted its stake by 6,600% in the fourth quarter and now owns 67 shares of AXP's stock valued at $25,000.

As of now, 84.33% of American Express' stock is owned by institutional investors. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.54, and a current ratio of 1.55. Its market cap stands at $231.14 billion with a PE ratio of 20.77 and a P/E/G ratio of 1.39.

AXP's recent earnings report showed the company beating the consensus estimate of $4.41 EPS by $0.12, reporting $4.53 EPS for the quarter. The firm had revenue of $14.99 billion for the quarter, compared to the consensus estimate of $19.70 billion.