American Express (NYSE:AXP) Stake Lowered by Mittelman Wealth Management

Mittelman Wealth Management trimmed its stake in shares of American Express (NYSE:AXP) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,229 shares of the payment services company’s stock after selling 125 shares during the quarter. Mittelman Wealth Management’s holdings in American Express were worth $1,211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Blair William & Co. IL boosted its holdings in shares of American Express by 1.2% during the second quarter. Blair William & Co. IL now owns 738,499 shares of the payment services company’s stock valued at $171,000,000 after acquiring an additional 9,097 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in American Express by 4.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 62,734 shares of the payment services company’s stock valued at $14,477,000 after purchasing an additional 2,585 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in American Express by 1.3% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 43,014 shares of the payment services company’s stock valued at $9,960,000 after purchasing an additional 534 shares during the period. E Fund Management Co. Ltd. bought a new position in American Express in the 2nd quarter worth about $200,000. Finally, Bradley Foster & Sargent Inc. CT increased its stake in shares of American Express by 3.9% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 138,359 shares of the payment services company’s stock valued at $32,037,000 after purchasing an additional 5,248 shares during the period. Institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AXP shares. Wells Fargo & Company boosted their price objective on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods boosted their price target on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. William Blair reissued an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Jefferies Financial Group increased their target price on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. Finally, Bank of America boosted their price target on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $230.78.

American Express Stock Down 1.2 %

AXP stock opened at $262.21 on Thursday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market capitalization of $188.61 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.42 and a beta of 1.21. American Express has a 52-week low of $140.91 and a 52-week high of $267.22. The company’s 50 day simple moving average is $247.89 and its 200-day simple moving average is $236.40.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company’s revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.89 EPS. As a group, equities research analysts anticipate that American Express will post 13.12 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.