Patriot Financial Group Insurance Agency LLC Has $591,000 Stock Holdings in American Express (NYSE:AXP)

Patriot Financial Group Insurance Agency LLC trimmed its position in shares of American Express (NYSE:AXP) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,553 shares of the payment services company’s stock after selling 97 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in American Express were worth $591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AustralianSuper Pty Ltd increased its stake in American Express by 59.5% during the second quarter. AustralianSuper Pty Ltd now owns 16,351 shares of the payment services company’s stock valued at $3,786,000 after acquiring an additional 6,101 shares during the period. Atomi Financial Group Inc. increased its stake in American Express by 34.8% during the second quarter. Atomi Financial Group Inc. now owns 4,302 shares of the payment services company’s stock valued at $996,000 after acquiring an additional 1,110 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in American Express by 1.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 89,672 shares of the payment services company’s stock valued at $20,763,000 after acquiring an additional 1,511 shares during the period. AlphaStar Capital Management LLC bought a new position in American Express during the second quarter valued at about $228,000. Finally, Saxony Capital Management LLC increased its stake in American Express by 9.2% during the second quarter. Saxony Capital Management LLC now owns 1,006 shares of the payment services company’s stock valued at $233,000 after acquiring an additional 85 shares during the period. 84.33% of the stock is currently owned by institutional investors.

American Express Trading Up 0.4 %

Shares of AXP stock traded up $0.90 during trading hours on Wednesday, reaching $255.93. The company had a trading volume of 939,701 shares, compared to its average volume of 2,953,962. The company has a 50 day moving average of $240.19 and a 200 day moving average of $231.60. 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 firm has a market cap of $184.09 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.38 and a beta of 1.21. American Express has a 1-year low of $140.91 and a 1-year high of $258.63.

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 analysts’ consensus estimates of $3.26 by $0.23. The company had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.89 EPS. On average, equities research analysts anticipate that American Express will post 13.24 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AXP shares. Robert W. Baird upped their price objective on American Express from $190.00 to $205.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. BTIG Research started coverage on American Express in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Bank of America lowered American Express from a “buy” rating to a “neutral” rating and set a $263.00 price objective on the stock. in a research note on Wednesday, August 21st. Wells Fargo & Company upped their price objective on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Finally, Compass Point started coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective on the stock. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $230.70.

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.