GM Advisory Group LLC Has $14.92 Million Stock Holdings in American Express (NYSE:AXP)

GM Advisory Group LLC reduced its stake in shares of American Express (NYSE:AXP) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 64,440 shares of the payment services company’s stock after selling 1,023 shares during the period. American Express makes up approximately 1.0% of GM Advisory Group LLC’s holdings, making the stock its 26th biggest holding. GM Advisory Group LLC’s holdings in American Express were worth $14,921,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sawgrass Asset Management LLC lifted its position in American Express by 0.4% in the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after acquiring an additional 41 shares in the last quarter. Ignite Planners LLC raised its stake in shares of American Express by 0.9% in the 2nd 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 during the period. Willner & Heller LLC lifted its holdings in shares of American Express by 4.1% in the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after purchasing an additional 43 shares in the last quarter. Beacon Capital Management LLC boosted its position in shares of American Express by 18.9% during the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock worth $63,000 after buying an additional 43 shares during the period. Finally, Capital Wealth Planning LLC grew its holdings in shares of American Express by 4.0% during the second quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock worth $257,000 after buying an additional 43 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AXP shares. Bank of America raised their price target on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday. Keefe, Bruyette & Woods raised their target price on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Monness Crespi & Hardt boosted their price target on shares of American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Jefferies Financial Group raised their price objective on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Finally, Citigroup began coverage on American Express in a research report on Monday, June 10th. They issued a “neutral” rating and a $250.00 target price on the stock. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, American Express currently has a consensus rating of “Hold” and a consensus price target of $230.78.

American Express Stock Up 2.5 %

Shares of NYSE AXP opened at $268.75 on Friday. The stock has a market capitalization of $193.31 billion, a P/E ratio of 22.14, a PEG ratio of 1.42 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. American Express has a 52 week low of $140.91 and a 52 week high of $270.10. The stock’s fifty day moving average is $248.49 and its 200 day moving average is $236.62.

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

American Express 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.