First Interstate Bank Trims Stock Position in American Express (NYSE:AXP)

First Interstate Bank trimmed its holdings in American Express (NYSE:AXP) by 2.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 26,363 shares of the payment services company’s stock after selling 677 shares during the period. First Interstate Bank’s holdings in American Express were worth $6,104,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. Doheny Asset Management CA increased its holdings in shares of American Express by 35.7% during the 2nd quarter. Doheny Asset Management CA now owns 13,398 shares of the payment services company’s stock valued at $3,102,000 after purchasing an additional 3,525 shares in the last quarter. Andra AP fonden boosted its holdings in American Express by 89.3% during the second quarter. Andra AP fonden now owns 96,248 shares of the payment services company’s stock worth $22,286,000 after buying an additional 45,400 shares in the last quarter. Sachetta LLC grew its position in American Express by 34.0% during the second quarter. Sachetta LLC now owns 205 shares of the payment services company’s stock valued at $52,000 after buying an additional 52 shares during the period. Royal London Asset Management Ltd. increased its holdings in American Express by 1.9% in the second quarter. Royal London Asset Management Ltd. now owns 235,099 shares of the payment services company’s stock valued at $54,437,000 after buying an additional 4,400 shares in the last quarter. Finally, LGT Fund Management Co Ltd. raised its position in shares of American Express by 46.2% in the second quarter. LGT Fund Management Co Ltd. now owns 3,800 shares of the payment services company’s stock worth $880,000 after acquiring an additional 1,200 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Price Performance

NYSE:AXP opened at $250.92 on Tuesday. American Express has a one year low of $140.91 and a one year high of $261.75. The stock has a market cap of $180.49 billion, a PE ratio of 20.67, a P/E/G ratio of 1.37 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. The stock has a 50 day moving average price of $244.91 and a 200 day moving average price of $234.57.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating 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 company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. During the same period in the prior year, the business earned $2.89 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. Equities research analysts expect that American Express will post 13.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AXP shares. JPMorgan Chase & Co. raised their target price on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. 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 report on Wednesday, August 21st. Monness Crespi & Hardt upped their target price on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group lifted their price target 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. Finally, 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. 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, American Express presently has a consensus 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.