American Express (NYSE:AXP) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC decreased its holdings in American Express (NYSE:AXP) by 7.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,167 shares of the payment services company’s stock after selling 95 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in American Express were worth $270,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AXP. Scarborough Advisors LLC acquired a new stake in American Express in the fourth quarter worth about $25,000. Sachetta LLC acquired a new stake in American Express in the 4th quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC purchased a new stake in American Express during the 4th quarter worth approximately $29,000. Game Plan Financial Advisors LLC increased its stake in American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after purchasing an additional 50 shares in the last quarter. Finally, Creekmur Asset Management LLC purchased a new position in shares of American Express in the fourth quarter worth $32,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of American Express stock opened at $251.74 on Thursday. The business’s 50 day moving average price is $243.86 and its 200 day moving average price is $233.65. The company has a market cap of $178.96 billion, a price-to-earnings ratio of 20.74, a PEG ratio of 1.45 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 one year low of $140.91 and a one year high of $261.75.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 EPS 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 business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same quarter in the previous year, the firm earned $2.89 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, research analysts predict that American Express will post 13.12 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Monness Crespi & Hardt upped their target price on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Barclays lifted their price objective 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. Keefe, Bruyette & Woods upped their price target on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Finally, Bank of America lowered American Express from a “buy” rating to a “neutral” rating and set a $263.00 price objective on the stock. in a report on Wednesday, August 21st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $230.70.

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.