Equitable Trust Co. Trims Position in American Express (NYSE:AXP)

Equitable Trust Co. decreased its position in shares of American Express (NYSE:AXP) by 39.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 68,531 shares of the payment services company’s stock after selling 44,127 shares during the period. American Express accounts for approximately 1.1% of Equitable Trust Co.’s portfolio, making the stock its 23rd largest holding. Equitable Trust Co.’s holdings in American Express were worth $15,868,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sawgrass Asset Management LLC raised its stake in American Express by 0.4% during the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after purchasing an additional 41 shares during the period. Spire Wealth Management raised its stake in American Express by 1.0% during the first quarter. Spire Wealth Management now owns 4,315 shares of the payment services company’s stock worth $983,000 after purchasing an additional 42 shares during the period. Ignite Planners LLC raised its stake in American Express by 0.9% during the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock worth $1,103,000 after purchasing an additional 43 shares during the period. Willner & Heller LLC raised its stake in American Express by 4.1% during the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock worth $252,000 after purchasing an additional 43 shares during the period. Finally, Beacon Capital Management LLC raised its stake in American Express by 18.9% during the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock worth $63,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Compass Point assumed coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target on the stock. JPMorgan Chase & Co. raised their target price on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Royal Bank of Canada raised their target price on shares of 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 assumed coverage on shares of American Express in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, Jefferies Financial Group raised their target price on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American Express has a consensus rating of “Hold” and a consensus price target of $230.70.

American Express Stock Performance

NYSE:AXP traded down $1.19 during mid-day trading on Friday, hitting $258.65. The stock had a trading volume of 3,442,125 shares, compared to its average volume of 2,624,836. The stock has a market capitalization of $183.88 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 1.45 and a beta of 1.21. The company has a 50 day simple moving average of $242.42 and a 200-day simple moving average of $232.75. American Express has a 52 week low of $140.91 and a 52 week high of $261.75. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last issued its quarterly earnings data 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. The firm had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. American Express’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $2.89 EPS. On average, research analysts expect that American Express will post 13.12 earnings per share for the current fiscal year.

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.