JPB Foundation Trims Stake in American Express (NYSE:AXP)

JPB Foundation trimmed its holdings in shares of American Express (NYSE:AXP) by 17.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,851 shares of the payment services company’s stock after selling 23,000 shares during the quarter. American Express comprises about 2.7% of JPB Foundation’s holdings, making the stock its 12th largest position. JPB Foundation’s holdings in American Express were worth $25,668,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new stake in American Express during the fourth quarter worth about $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in American Express during the fourth 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 worth $30,000 after purchasing an additional 50 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in American Express during the fourth quarter worth about $32,000. Finally, Transcendent Capital Group LLC bought a new stake in American Express during the fourth quarter worth about $37,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Down 0.3 %

AXP stock opened at $266.49 on Wednesday. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $272.41. The business’s 50 day moving average price is $249.90 and its two-hundred day moving average price is $237.85. 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 company has a market capitalization of $191.69 billion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21.

American Express (NYSE:AXP) last posted its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $16.60 billion. During the same quarter in the prior year, the business earned $2.89 EPS. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, analysts forecast that American Express will post 13.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AXP. Barclays boosted their target price on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. BTIG Research began coverage on American Express in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Compass Point began coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price for the company. Monness Crespi & Hardt boosted their target price on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Royal Bank of Canada boosted their target price on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.