American Express (NYSE:AXP) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its stake in American Express (NYSE:AXP) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 664,912 shares of the payment services company’s stock after selling 9,837 shares during the period. King Luther Capital Management Corp owned approximately 0.09% of American Express worth $153,960,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of AXP. Scarborough Advisors LLC purchased a new stake in shares of American Express during the fourth quarter valued at approximately $25,000. Sachetta LLC purchased a new stake in American Express during the 4th quarter worth $29,000. Vermillion & White Wealth Management Group LLC acquired a new position in American Express in the 4th quarter worth $29,000. Game Plan Financial Advisors LLC boosted 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 valued at $30,000 after buying an additional 50 shares during the last quarter. Finally, Creekmur Asset Management LLC acquired a new stake in shares of American Express during the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE AXP opened at $268.75 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The firm 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 1-year low of $140.91 and a 1-year high of $270.10. The business’s fifty day moving average price is $248.49 and its two-hundred day moving average price is $236.62.

American Express (NYSE:AXP) last issued its quarterly earnings data 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. The business had revenue of $16.33 billion during 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 business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.89 EPS. On average, research analysts expect that American Express will post 13.12 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Royal Bank of Canada upped their target price on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods lifted their price target 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. Citigroup assumed coverage on shares of American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target on the stock. Finally, Barclays raised their price objective on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. Three 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price 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.