Summit Trail Advisors LLC Reduces Stake in American Express (NYSE:AXP)

Summit Trail Advisors LLC lowered its position in American Express (NYSE:AXP) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,870 shares of the payment services company’s stock after selling 171 shares during the quarter. Summit Trail Advisors LLC’s holdings in American Express were worth $2,517,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sawgrass Asset Management LLC lifted its holdings in American Express by 0.4% in the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after acquiring an additional 41 shares during the last quarter. Ignite Planners LLC raised its holdings in American Express by 0.9% in the 2nd quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after buying an additional 43 shares during the period. Willner & Heller LLC boosted 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 buying an additional 43 shares during the period. Beacon Capital Management LLC increased its position in shares of American Express by 18.9% during the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock valued at $63,000 after acquiring an additional 43 shares during the last quarter. Finally, Capital Wealth Planning LLC raised its stake in shares of American Express by 4.0% in the 2nd quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock valued at $257,000 after acquiring 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

A number of equities analysts recently weighed in on AXP shares. Citigroup initiated coverage on shares of American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 price objective for the company. Wells Fargo & Company boosted their price objective on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods raised their target price on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Monness Crespi & Hardt boosted their target price on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $230.78.

American Express Trading Up 0.1 %

NYSE:AXP opened at $268.95 on Friday. The stock has a market capitalization of $193.46 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 1.42 and a beta of 1.21. American Express has a 1 year low of $140.91 and a 1 year high of $271.49. The stock has a fifty day moving average price of $249.10 and a two-hundred day moving average price of $236.97. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

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, topping the consensus estimate of $3.26 by $0.23. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.89 EPS. As a group, sell-side analysts anticipate that American Express will post 13.12 earnings per share for the current fiscal year.

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.