Axxcess Wealth Management LLC Sells 5,186 Shares of American Express (NYSE:AXP)

Axxcess Wealth Management LLC lessened its holdings in shares of American Express (NYSE:AXP) by 58.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,626 shares of the payment services company’s stock after selling 5,186 shares during the period. Axxcess Wealth Management LLC’s holdings in American Express were worth $840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXP. Price T Rowe Associates Inc. MD lifted its stake in shares of American Express by 8.5% in the 1st 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 purchasing an additional 662,382 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of American Express by 11.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,855,211 shares of the payment services company’s stock worth $909,575,000 after acquiring an additional 496,153 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of American Express by 8.2% during the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after acquiring an additional 195,876 shares during the last quarter. Boston Partners raised its stake in shares of American Express by 22.2% in the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after acquiring an additional 387,166 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd acquired a new stake in American Express in the 1st quarter worth approximately $433,709,000. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

American Express stock opened at $268.75 on Friday. The stock has a market capitalization of $193.31 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 1.42 and a beta of 1.21. American Express has a 52-week low of $140.91 and a 52-week high of $270.10. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The stock’s 50 day moving average price is $248.49 and its two-hundred day moving average price is $236.62.

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. On average, equities analysts predict that American Express will post 13.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AXP. Jefferies Financial Group boosted their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods upped their price target on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. JPMorgan Chase & Co. lifted their price objective on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. BTIG Research assumed coverage on American Express in a research note on Friday, June 7th. They set a “neutral” rating for the company. Finally, Wells Fargo & Company lifted their price target on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $230.78.

American Express Company 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.