American Express (NYSE:AXP) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co trimmed its position in shares of American Express (NYSE:AXP) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,523 shares of the payment services company’s stock after selling 2,746 shares during the period. Elo Mutual Pension Insurance Co’s holdings in American Express were worth $11,699,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AXP. Scarborough Advisors LLC acquired a new position in shares of American Express in the fourth quarter worth about $25,000. Sachetta LLC purchased a new position in shares of American Express during the 4th quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in American Express in the fourth quarter valued at $29,000. Game Plan Financial Advisors LLC boosted its stake in American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after acquiring an additional 50 shares during the last quarter. Finally, Creekmur Asset Management LLC acquired a new position in American Express during the 4th quarter worth $32,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

NYSE:AXP opened at $265.49 on Wednesday. The firm has a market capitalization of $190.97 billion, a PE ratio of 21.87, a PEG ratio of 1.42 and a beta of 1.21. American Express has a 1 year low of $140.91 and a 1 year high of $267.22. 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 firm’s fifty day simple moving average is $247.42 and its 200 day simple moving average is $236.22.

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

Analysts Set New Price Targets

AXP has been the subject of a number of research reports. Compass Point started coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target for the company. Bank of America upped their price target on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday. Wells Fargo & Company lifted their price objective on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. BTIG Research started coverage on shares of American Express in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, Keefe, Bruyette & Woods increased their price objective on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.