Auxier Asset Management Cuts Stock Position in American Express (NYSE:AXP)

Auxier Asset Management decreased its holdings in shares of American Express (NYSE:AXP) by 1.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,098 shares of the payment services company’s stock after selling 90 shares during the quarter. Auxier Asset Management’s holdings in American Express were worth $1,644,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Gryphon Financial Partners LLC bought a new stake in American Express during the fourth quarter worth approximately $224,000. Prairieview Wealth Partners LLC bought a new position in shares of American Express during the 4th quarter valued at approximately $341,000. InterOcean Capital Group LLC raised its holdings in American Express by 21.6% during the 4th quarter. InterOcean Capital Group LLC now owns 3,249 shares of the payment services company’s stock valued at $609,000 after buying an additional 577 shares during the period. Tidemark LLC bought a new stake in American Express in the fourth quarter worth $59,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in American Express by 5.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 79,090 shares of the payment services company’s stock worth $14,817,000 after buying an additional 3,788 shares during the period. Institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

Shares of NYSE:AXP opened at $268.95 on Friday. The firm has a 50 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. The company has a market capitalization of $193.46 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. American Express has a 52 week low of $140.91 and a 52 week high of $271.49.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share 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 during the quarter, compared to analysts’ expectations of $16.60 billion. During the same period in the prior year, the business posted $2.89 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. On average, sell-side analysts predict that American Express will post 13.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AXP shares. Royal Bank of Canada raised their target price on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Monness Crespi & Hardt boosted their target price on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. BTIG Research started coverage on American Express in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Bank of America boosted their price objective on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Compass Point assumed coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. 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 stock. According to MarketBeat.com, American Express has a consensus rating of “Hold” and an average price target of $230.78.

About American Express

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.