Plimoth Trust Co. LLC Has $2.30 Million Position in American Express (NYSE:AXP)

Plimoth Trust Co. LLC decreased its holdings in shares of American Express (NYSE:AXP) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,931 shares of the payment services company’s stock after selling 152 shares during the period. Plimoth Trust Co. LLC’s holdings in American Express were worth $2,300,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AXP. Scarborough Advisors LLC acquired a new position in American Express during the 4th quarter valued at about $25,000. Tennessee Valley Asset Management Partners bought a new stake in American Express during the fourth quarter worth $28,000. Sachetta LLC bought a new stake in American Express during the fourth quarter worth $29,000. Vermillion & White Wealth Management Group LLC purchased a new stake in American Express in the 4th quarter valued at $29,000. Finally, Game Plan Financial Advisors LLC lifted its stake in American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after acquiring an additional 50 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Barclays boosted their target price on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Citigroup began coverage on American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Finally, BTIG Research started coverage on American Express in a research report on Friday, June 7th. They set a “neutral” rating for the company. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $230.70.

American Express Price Performance

NYSE:AXP traded up $1.53 during midday trading on Thursday, hitting $247.83. The company had a trading volume of 1,980,982 shares, compared to its average volume of 2,982,760. The stock’s fifty day moving average price is $239.15 and its 200-day moving average price is $230.65. American Express has a 52-week low of $140.91 and a 52-week high of $256.24. 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 $178.26 billion, a PE ratio of 20.41, a P/E/G ratio of 1.38 and a beta of 1.21.

American Express (NYSE:AXP) last posted 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 firm had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company’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 business earned $2.89 EPS. As a group, research analysts expect that American Express will post 13.24 earnings per share for the current year.

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.