American Express (NYSE:AXP) Shares Sold by ICA Group Wealth Management LLC

ICA Group Wealth Management LLC decreased its position in shares of American Express (NYSE:AXP) by 64.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 250 shares of the payment services company’s stock after selling 458 shares during the period. ICA Group Wealth Management LLC’s holdings in American Express were worth $58,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in American Express by 8.5% during 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 buying an additional 662,382 shares during the period. Norges Bank acquired a new position in shares of American Express in the fourth quarter valued at approximately $1,112,747,000. Artisan Partners Limited Partnership increased its holdings in shares of American Express by 11.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,855,211 shares of the payment services company’s stock valued at $909,575,000 after purchasing an additional 496,153 shares during the period. TD Asset Management Inc increased its holdings in shares of American Express by 8.2% in the first quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after purchasing an additional 195,876 shares during the period. Finally, Boston Partners increased its holdings in shares of American Express by 22.2% in the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after purchasing an additional 387,166 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AXP. Monness Crespi & Hardt boosted their target price on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. William Blair reissued an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Wells Fargo & Company boosted their target price on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Citigroup started coverage on American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 target price on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $230.70.

American Express Stock Up 1.5 %

AXP opened at $259.00 on Monday. The business’s fifty day moving average is $246.33 and its two-hundred day moving average is $235.60. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $186.30 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 1.42 and a beta of 1.21. American Express has a one year low of $140.91 and a one year high of $261.75.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping 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 company 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 firm posted $2.89 earnings per share. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. Analysts anticipate 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.