Abbrea Capital LLC Sells 205 Shares of American Express (NYSE:AXP)

Abbrea Capital LLC lowered its stake in shares of American Express (NYSE:AXP) by 6.7% during the second quarter, Holdings Channel.com reports. The firm owned 2,837 shares of the payment services company’s stock after selling 205 shares during the quarter. Abbrea Capital LLC’s holdings in American Express were worth $657,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AXP. Norges Bank acquired a new stake in American Express in the fourth quarter worth about $1,112,747,000. Alphinity Investment Management Pty Ltd acquired a new stake in American Express in the first quarter worth about $433,709,000. TD Asset Management Inc boosted its holdings in American Express by 62.1% in the fourth quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after acquiring an additional 919,337 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in American Express by 8.5% in the first 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 acquiring an additional 662,382 shares in the last quarter. Finally, Bank of Nova Scotia boosted its holdings in American Express by 969.9% in the fourth quarter. Bank of Nova Scotia now owns 602,726 shares of the payment services company’s stock worth $112,910,000 after acquiring an additional 546,389 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 1.5 %

American Express stock opened at $259.07 on Friday. The stock has a market capitalization of $186.35 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. American Express has a 12 month low of $140.91 and a 12 month high of $261.75. The business has a 50 day simple moving average of $246.33 and a 200-day simple moving average of $235.36. 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 (NYSE:AXP) last posted its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. During the same period in the previous year, the business earned $2.89 earnings per share. The business’s revenue was up 9.2% compared to the same quarter last year. On average, analysts anticipate that American Express will post 13.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AXP has been the subject of several recent analyst reports. Compass Point assumed coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Wells Fargo & Company lifted their target price on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Citigroup assumed 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. Finally, Bank of America downgraded American Express from a “buy” rating to a “neutral” rating and set a $263.00 target price for the company. in a report on Wednesday, August 21st. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average 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.