American Express (NYSE:AXP) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC reduced its position in American Express (NYSE:AXP) by 58.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,626 shares of the payment services company’s stock after selling 5,186 shares during the period. Axxcess Wealth Management LLC’s holdings in American Express were worth $840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC raised its stake in shares of American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after buying an additional 50 shares during the period. Scarborough Advisors LLC acquired a new position in shares of American Express during the 4th quarter worth about $25,000. Sachetta LLC purchased a new position in American Express in the 4th quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in American Express in the 4th quarter worth about $29,000. Finally, DHJJ Financial Advisors Ltd. increased its stake in American Express by 42.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after buying an additional 49 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Trading Up 2.5 %

Shares of NYSE:AXP opened at $268.75 on Friday. 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’s 50-day moving average price is $248.49 and its 200 day moving average price is $236.62. The company has a market cap 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 fifty-two week low of $140.91 and a fifty-two week high of $270.10.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.89 earnings per share. Sell-side analysts anticipate that American Express will post 13.12 earnings per share for the current year.

Wall Street Analyst Weigh In

AXP has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. William Blair reissued an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Barclays upped their price objective on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. Compass Point started coverage on American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $230.78.

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.