American Express (NYSE:AXP) Shares Sold by ASB Consultores LLC

ASB Consultores LLC cut its holdings in shares of American Express (NYSE:AXP) by 28.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,827 shares of the payment services company’s stock after selling 1,123 shares during the quarter. ASB Consultores LLC’s holdings in American Express were worth $655,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sawgrass Asset Management LLC boosted its position in American Express by 0.4% during the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after acquiring an additional 41 shares during the last quarter. Ignite Planners LLC raised its stake in American Express by 0.9% during the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock worth $1,103,000 after purchasing an additional 43 shares during the period. Willner & Heller LLC raised its stake in American Express by 4.1% during the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock worth $252,000 after purchasing an additional 43 shares during the period. Beacon Capital Management LLC raised its stake in American Express by 18.9% during the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock worth $63,000 after purchasing an additional 43 shares during the period. Finally, Capital Wealth Planning LLC raised its stake in American Express by 4.0% during the second quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock worth $257,000 after purchasing an additional 43 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AXP has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. JPMorgan Chase & Co. boosted their price target on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. BTIG Research began coverage on shares of American Express in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Jefferies Financial Group boosted their price target on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Finally, Compass Point began coverage on shares of American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target on the stock. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $230.78.

American Express Stock Performance

Shares of AXP opened at $268.75 on Friday. The company has a 50-day simple moving average of $248.49 and a 200-day simple moving average of $236.62. 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 capitalization of $193.31 billion, a PE ratio of 22.14, 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 $270.10.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion during 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 business’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.89 EPS. Equities research analysts predict that American Express will post 13.12 earnings per share for the current fiscal 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.