Pine Valley Investments Ltd Liability Co Reduces Position in American Express (NYSE:AXP)

Pine Valley Investments Ltd Liability Co trimmed its position in shares of American Express (NYSE:AXP) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,562 shares of the payment services company’s stock after selling 222 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in American Express were worth $1,288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AXP. Norges Bank bought a new stake in shares of American Express during the 4th quarter valued at $1,112,747,000. Alphinity Investment Management Pty Ltd bought a new stake in shares of American Express during the 1st quarter valued at $433,709,000. TD Asset Management Inc raised its position in shares of American Express by 62.1% during 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 period. Charles Schwab Investment Management Inc. raised its position in shares of American Express by 21.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock valued at $713,202,000 after purchasing an additional 667,695 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in 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 acquiring an additional 662,382 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on AXP shares. Barclays lifted their price target on shares of American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. Citigroup started coverage on shares of American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target on the stock. Keefe, Bruyette & Woods lifted 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. Compass Point started coverage on shares of American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on shares of American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Three 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $230.70.

American Express Price Performance

American Express stock opened at $258.65 on Friday. The stock has a market cap of $186.05 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 1.38 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. American Express has a 1 year low of $140.91 and a 1 year high of $261.75. The firm has a 50-day moving average of $242.42 and a two-hundred day moving average of $232.59.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.89 EPS. On average, research analysts forecast that American Express will post 13.24 earnings per share for the current 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.