American Express (NYSE:AXP) Shares Sold by Ingalls & Snyder LLC

Ingalls & Snyder LLC lowered its position in American Express (NYSE:AXP) by 0.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,480 shares of the payment services company’s stock after selling 40 shares during the period. Ingalls & Snyder LLC’s holdings in American Express were worth $1,964,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AXP. Norges Bank acquired a new position in shares of American Express in the fourth quarter worth about $1,112,747,000. Alphinity Investment Management Pty Ltd acquired a new position in shares of American Express in the first quarter worth about $433,709,000. TD Asset Management Inc raised its position in shares of American Express by 62.1% in the fourth quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after acquiring an additional 919,337 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of American Express by 21.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock worth $713,202,000 after acquiring an additional 667,695 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of American Express by 8.5% in the first 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 during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

American Express stock opened at $258.65 on Friday. The firm has a 50 day simple moving average of $242.42 and a 200-day simple moving average of $232.75. American Express has a 1-year low of $140.91 and a 1-year high of $261.75. 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 stock has a market cap of $183.88 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. During the same quarter in the prior year, the company posted $2.89 EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, analysts expect that American Express will post 13.12 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on AXP. Keefe, Bruyette & Woods upped their price objective on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. JPMorgan Chase & Co. upped their price target on shares of American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Citigroup initiated coverage on shares of American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 price target for the company. Compass Point initiated coverage on shares of American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target for the company. Finally, Monness Crespi & Hardt upped their price target on shares of American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $230.70.

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.