American Express (NYSE:AXP) Position Lowered by Estabrook Capital Management

Estabrook Capital Management trimmed its position in American Express (NYSE:AXP) by 37.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,244 shares of the payment services company’s stock after selling 1,365 shares during the period. Estabrook Capital Management’s holdings in American Express were worth $520,000 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. Price T Rowe Associates Inc. MD grew its position in shares of American Express by 8.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after acquiring an additional 662,382 shares in the last quarter. Artisan Partners Limited Partnership boosted its holdings in American Express by 11.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,855,211 shares of the payment services company’s stock worth $909,575,000 after purchasing an additional 496,153 shares during the period. TD Asset Management Inc increased its stake in American Express by 8.2% during the first quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after purchasing an additional 195,876 shares during the last quarter. Boston Partners raised its holdings in shares of American Express by 22.2% during the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after purchasing an additional 387,166 shares during the period. Finally, Alphinity Investment Management Pty Ltd bought a new position in shares of American Express in the 1st quarter worth about $433,709,000. 84.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AXP. JPMorgan Chase & Co. boosted their price objective on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Citigroup began coverage on American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 target price for the company. Compass Point began coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target on the stock. Barclays upped their price objective on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Finally, William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Three equities research 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’s stock. According to data from MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus target price of $230.78.

American Express Stock Up 0.1 %

Shares of AXP stock opened at $268.99 on Friday. American Express has a 1 year low of $140.91 and a 1 year high of $271.49. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The business’s fifty day moving average is $249.10 and its 200-day moving average is $237.11. The stock has a market cap of $193.49 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21.

American Express (NYSE:AXP) last released its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same period in the previous year, the company earned $2.89 earnings per share. American Express’s revenue was up 9.2% compared to the same quarter last year. Equities analysts expect 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.