First Dallas Securities Inc. Sells 1,209 Shares of American Express (NYSE:AXP)

First Dallas Securities Inc. lowered its holdings in shares of American Express (NYSE:AXP) by 10.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,690 shares of the payment services company’s stock after selling 1,209 shares during the period. American Express makes up 1.1% of First Dallas Securities Inc.’s investment portfolio, making the stock its 28th largest holding. First Dallas Securities Inc.’s holdings in American Express were worth $2,475,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of American Express in the 4th quarter worth approximately $1,112,747,000. Alphinity Investment Management Pty Ltd bought a new position in shares of American Express during the first quarter valued at $433,709,000. TD Asset Management Inc raised its position in shares of American Express by 62.1% in the 4th quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after purchasing an additional 919,337 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in American Express by 8.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after purchasing an additional 662,382 shares in the last quarter. Finally, Bank of Nova Scotia grew its position in American Express by 969.9% during the 4th quarter. Bank of Nova Scotia now owns 602,726 shares of the payment services company’s stock valued at $112,910,000 after purchasing an additional 546,389 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

AXP stock traded down $1.05 during trading on Thursday, reaching $250.69. The company’s stock had a trading volume of 328,716 shares, compared to its average volume of 2,949,174. The company’s fifty day moving average is $243.86 and its 200-day moving average is $233.65. American Express has a 1 year low of $140.91 and a 1 year high of $261.75. The company has a market capitalization of $180.32 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. 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 released its quarterly earnings data 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. The firm had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.89 earnings per share. On average, research analysts expect that American Express will post 13.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AXP shares. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Keefe, Bruyette & Woods boosted their price target on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. BTIG Research assumed coverage on American Express in a report on Friday, June 7th. They set a “neutral” rating on the stock. Jefferies Financial Group lifted their price objective on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. Finally, Compass Point initiated coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, American Express has a consensus rating of “Hold” and a consensus target price 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.