Merriman Wealth Management LLC Sells 43 Shares of American Express (NYSE:AXP)

Merriman Wealth Management LLC reduced its holdings in shares of American Express (NYSE:AXP) by 3.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,192 shares of the payment services company’s stock after selling 43 shares during the period. Merriman Wealth Management LLC’s holdings in American Express were worth $276,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Legacy Financial Advisors Inc. boosted its stake in shares of American Express by 7.6% during the second quarter. Legacy Financial Advisors Inc. now owns 2,654 shares of the payment services company’s stock valued at $615,000 after purchasing an additional 188 shares during the period. Ensign Peak Advisors Inc lifted its holdings in American Express by 12.9% during the 2nd quarter. Ensign Peak Advisors Inc now owns 447,688 shares of the payment services company’s stock valued at $103,662,000 after buying an additional 51,088 shares in the last quarter. Arista Wealth Management LLC purchased a new stake in American Express in the 2nd quarter valued at about $512,000. Transatlantique Private Wealth LLC grew its stake in American Express by 1.5% in the 2nd quarter. Transatlantique Private Wealth LLC now owns 7,262 shares of the payment services company’s stock worth $1,667,000 after acquiring an additional 110 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of American Express by 9.7% during the second quarter. Sei Investments Co. now owns 329,361 shares of the payment services company’s stock worth $76,262,000 after acquiring an additional 29,046 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE:AXP opened at $268.99 on Friday. American Express has a twelve month low of $140.91 and a twelve month high of $271.49. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The company 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. The company’s 50 day moving average is $249.10 and its 200 day moving average is $237.11.

American Express (NYSE:AXP) last released 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. The firm had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.89 earnings per share. On average, sell-side analysts forecast that American Express will post 13.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AXP shares. Compass Point assumed coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target for the company. Jefferies Financial Group upped their target price on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. Barclays raised their price target on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. Wells Fargo & Company upped their price objective on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, Monness Crespi & Hardt raised their target price on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.