American Express (NYSE:AXP) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its holdings in American Express (NYSE:AXP) by 18.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,956,948 shares of the payment services company’s stock after selling 453,051 shares during the quarter. Hsbc Holdings PLC’s holdings in American Express were worth $453,220,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Scarborough Advisors LLC acquired a new position in shares of American Express in the 4th quarter worth $25,000. Sachetta LLC acquired a new stake in American Express during the 4th quarter worth about $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in American Express during the 4th quarter worth about $29,000. Game Plan Financial Advisors LLC lifted its stake in American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after buying an additional 50 shares in the last quarter. Finally, Creekmur Asset Management LLC purchased a new position in shares of American Express in the fourth quarter worth approximately $32,000. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of American Express stock opened at $265.49 on Wednesday. American Express has a 1-year low of $140.91 and a 1-year high of $267.22. The firm has a fifty day simple moving average of $247.42 and a 200-day simple moving average of $236.22. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $190.97 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 1.42 and a beta of 1.21.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The company had revenue of $16.33 billion during 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 business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.89 earnings per share. On average, sell-side analysts expect that American Express will post 13.12 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on AXP shares. BTIG Research assumed coverage on shares of American Express in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Citigroup assumed coverage on American Express in a research report on Monday, June 10th. They issued a “neutral” rating and a $250.00 target price for the company. Wells Fargo & Company upped their price target on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Jefferies Financial Group raised their price objective on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, American Express has a consensus rating of “Hold” and a consensus price target of $230.78.

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.