Sompo Asset Management Co. Ltd. Has $986,000 Stock Position in American Express (NYSE:AXP)

Sompo Asset Management Co. Ltd. cut its position in American Express (NYSE:AXP) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,260 shares of the payment services company’s stock after selling 100 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in American Express were worth $986,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXP. Scarborough Advisors LLC acquired a new position in American Express in the 4th quarter valued at $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in American Express in the 4th quarter worth $29,000. Game Plan Financial Advisors LLC grew its position in American Express by 62.5% in the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in American Express in the 4th quarter worth $32,000. Finally, Transcendent Capital Group LLC acquired a new stake in American Express in the 4th quarter worth $37,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Up 0.1 %

Shares of AXP stock opened at $268.95 on Friday. The firm has a fifty day moving average of $249.10 and a 200-day moving average of $236.97. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 12-month low of $140.91 and a 12-month high of $271.49. The company has a market capitalization of $193.46 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 1.42 and a beta of 1.21.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on AXP shares. William Blair restated an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. JPMorgan Chase & Co. raised their price objective on shares of American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Monness Crespi & Hardt raised their price objective on shares of American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Wells Fargo & Company raised their price objective on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Finally, Jefferies Financial Group lifted their price target on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, American Express has an average rating of “Hold” and a consensus price target of $230.78.

American Express 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.