American Express (NYSE:AXP) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC cut its holdings in shares of American Express (NYSE:AXP) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,911 shares of the payment services company’s stock after selling 86 shares during the period. HBK Sorce Advisory LLC’s holdings in American Express were worth $2,063,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gryphon Financial Partners LLC acquired a new stake in American Express in the 4th quarter valued at about $224,000. Prairieview Wealth Partners LLC acquired a new position in shares of American Express during the fourth quarter worth about $341,000. Navellier & Associates Inc. increased its stake in American Express by 74.9% during the 4th quarter. Navellier & Associates Inc. now owns 3,526 shares of the payment services company’s stock worth $661,000 after buying an additional 1,510 shares during the period. Trillium Asset Management LLC boosted its stake in shares of American Express by 20.9% during the 4th quarter. Trillium Asset Management LLC now owns 4,364 shares of the payment services company’s stock valued at $818,000 after buying an additional 753 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC acquired a new stake in American Express during the fourth quarter valued at approximately $61,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Monness Crespi & Hardt increased their price objective on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. lifted their target price on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Citigroup assumed coverage on American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target for the company. Finally, Wells Fargo & Company raised their price target on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Three investment 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 data from MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus target price of $230.70.

American Express Price Performance

AXP stock opened at $259.07 on Friday. The firm has a 50-day moving average of $246.33 and a two-hundred day moving average of $235.36. The firm has a market capitalization of $186.35 billion, a PE ratio of 21.34, a P/E/G ratio of 1.42 and a beta of 1.21. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a one year low of $140.91 and a one year high of $261.75.

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, topping analysts’ consensus estimates of $3.26 by $0.23. The firm had revenue of $16.33 billion during the quarter, compared to analyst estimates 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 was up 9.2% on a year-over-year basis. During the same quarter last year, the business posted $2.89 EPS. On average, analysts forecast that American Express will post 13.12 earnings per share for the current 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.