American Express (NYSE:AXP) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its stake in shares of American Express (NYSE:AXP) by 91.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,243 shares of the payment services company’s stock after selling 14,074 shares during the quarter. Edgestream Partners L.P.’s holdings in American Express were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AXP. Scarborough Advisors LLC acquired a new position in shares of American Express in the fourth quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of American Express during the fourth quarter worth $29,000. Game Plan Financial Advisors LLC grew its position in shares of American Express by 62.5% in the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after purchasing an additional 50 shares during the period. Creekmur Asset Management LLC acquired a new position in shares of American Express during the 4th quarter valued at about $32,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of American Express in the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Down 0.6 %

NYSE:AXP opened at $267.29 on Tuesday. The stock has a 50-day simple moving average of $249.56 and a 200 day simple moving average of $237.55. American Express has a one year low of $140.91 and a one year high of $272.41. The company has a market capitalization of $192.26 billion, a price-to-earnings ratio of 22.02, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. 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 data on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $16.60 billion. During the same period last year, the business posted $2.89 earnings per share. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. Sell-side analysts predict that American Express will post 13.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on AXP. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Royal Bank of Canada lifted their price objective on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. BTIG Research began coverage on shares of American Express in a research report on Friday, June 7th. They set a “neutral” rating for the company. Wells Fargo & Company lifted their price target on shares of American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Finally, Citigroup assumed coverage on shares of American Express in a research report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American Express presently 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.