Argent Trust Co Lowers Stock Holdings in American Express (NYSE:AXP)

Argent Trust Co lowered its position in shares of American Express (NYSE:AXP) by 2.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,895 shares of the payment services company’s stock after selling 1,540 shares during the period. Argent Trust Co’s holdings in American Express were worth $12,016,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sawgrass Asset Management LLC lifted its holdings in American Express by 0.4% in the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after buying an additional 41 shares during the period. Ignite Planners LLC boosted its position in shares of American Express by 0.9% during the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after purchasing an additional 43 shares in the last quarter. Willner & Heller LLC grew its stake in American Express by 4.1% in 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 during the period. Beacon Capital Management LLC grew its stake in American Express by 18.9% in the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock worth $63,000 after purchasing an additional 43 shares during the period. Finally, Capital Wealth Planning LLC raised its holdings in American Express by 4.0% in the second quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock worth $257,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays increased their price objective on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. Compass Point assumed coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective for the company. Keefe, Bruyette & Woods increased their price objective on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Finally, Royal Bank of Canada increased their price objective on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $230.78.

American Express Trading Up 1.7 %

American Express stock opened at $265.49 on Wednesday. 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 has a one year low of $140.91 and a one year high of $267.22. The stock has a market capitalization of $190.97 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The business’s fifty day moving average is $247.42 and its 200 day moving average is $236.22.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. American Express’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $2.89 earnings per share. On average, sell-side analysts predict that American Express will post 13.12 EPS for the current year.

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.