Sienna Gestion Sells 321 Shares of American Express (NYSE:AXP)

Sienna Gestion lessened its holdings in American Express (NYSE:AXP) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,170 shares of the payment services company’s stock after selling 321 shares during the period. Sienna Gestion’s holdings in American Express were worth $10,454,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Alphinity Investment Management Pty Ltd bought a new stake in shares of American Express during the 1st quarter valued at approximately $433,709,000. TD Asset Management Inc lifted its stake in American Express by 62.1% in the 4th quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock valued at $449,521,000 after purchasing an additional 919,337 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after buying an additional 662,382 shares in the last quarter. Bank of Nova Scotia grew its stake in shares of American Express by 969.9% during the fourth quarter. Bank of Nova Scotia now owns 602,726 shares of the payment services company’s stock worth $112,910,000 after buying an additional 546,389 shares during the last quarter. Finally, M&G Plc acquired a new position in shares of American Express during the first quarter worth $114,990,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Down 1.2 %

NYSE:AXP opened at $262.21 on Thursday. American Express has a 12 month low of $140.91 and a 12 month 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 stock has a market capitalization of $188.61 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.42 and a beta of 1.21. The firm has a fifty day simple moving average of $247.89 and a two-hundred day simple moving average of $236.40.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion during the quarter, compared to analyst estimates 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 was up 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.89 EPS. Analysts expect that American Express will post 13.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AXP. Bank of America boosted their price objective on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday. Monness Crespi & Hardt upped their price objective on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada lifted their target price on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Jefferies Financial Group boosted their target price on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. Finally, BTIG Research initiated coverage on shares of American Express in a research note on Friday, June 7th. They set a “neutral” rating for the company. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, American Express presently has an average 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.