Quilter Plc Reduces Stock Position in American Express (NYSE:AXP)

Quilter Plc trimmed its holdings in shares of American Express (NYSE:AXP) by 3.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,131 shares of the payment services company’s stock after selling 3,940 shares during the quarter. Quilter Plc’s holdings in American Express were worth $23,417,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AXP. Sawgrass Asset Management LLC lifted its holdings in shares of American Express by 0.4% in the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after acquiring an additional 41 shares during the last quarter. Ignite Planners LLC lifted 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 in the last quarter. Willner & Heller LLC lifted 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 in the last quarter. Beacon Capital Management LLC grew its stake in shares of American Express by 18.9% in the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock valued at $63,000 after buying an additional 43 shares in the last quarter. Finally, Meridian Wealth Advisors LLC raised its holdings in shares of American Express by 1.7% in the 2nd quarter. Meridian Wealth Advisors LLC now owns 2,593 shares of the payment services company’s stock valued at $600,000 after buying an additional 44 shares during the period. Institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on AXP shares. Citigroup began coverage on 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 lifted their price objective 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. JPMorgan Chase & Co. increased their target price on shares of American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Wells Fargo & Company boosted their price target on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Finally, Compass Point began coverage on American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, American Express currently has an average rating of “Hold” and an average price target of $230.70.

American Express Trading Up 1.5 %

NYSE:AXP opened at $259.00 on Monday. The company has a market capitalization of $186.30 billion, a PE ratio of 21.33, a P/E/G ratio of 1.42 and a beta of 1.21. American Express has a 52-week low of $140.91 and a 52-week high of $261.75. The stock’s 50 day moving average price is $246.33 and its 200 day moving average price is $235.60. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

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