Weik Capital Management Sells 350 Shares of American Express (NYSE:AXP)

Weik Capital Management cut its position in American Express (NYSE:AXP) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,878 shares of the payment services company’s stock after selling 350 shares during the quarter. Weik Capital Management’s holdings in American Express were worth $1,361,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sawgrass Asset Management LLC increased its stake in shares of American Express by 0.4% during the 2nd 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 last quarter. Spire Wealth Management grew its holdings 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 increased its position 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 buying an additional 43 shares during the last quarter. Willner & Heller LLC lifted its position in shares of American Express by 4.1% in the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after buying an additional 43 shares during the last quarter. Finally, Beacon Capital Management LLC boosted its stake in shares of American Express by 18.9% during the 2nd quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock worth $63,000 after acquiring an additional 43 shares during the period. 84.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Compass Point initiated coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target on the stock. Citigroup began coverage on shares of American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 target price for the company. Monness Crespi & Hardt increased their price target on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. William Blair restated an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Finally, BTIG Research initiated coverage on American Express in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, American Express presently has an average rating of “Hold” and a consensus price target of $230.70.

American Express Stock Performance

Shares of NYSE:AXP opened at $259.00 on Friday. The company’s 50 day simple moving average is $246.33 and its 200 day simple moving average is $235.48. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. American Express has a 1 year low of $140.91 and a 1 year high of $261.75. The stock has a market capitalization of $186.30 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly 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 for the quarter, compared to analyst estimates of $16.60 billion. During the same quarter last year, the company posted $2.89 EPS. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, research analysts predict that American Express will post 13.12 EPS for the current fiscal year.

American Express Company 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.