Envestnet Asset Management Inc. Sells 22,948 Shares of American Express (NYSE:AXP)

Envestnet Asset Management Inc. trimmed its position in American Express (NYSE:AXP) by 3.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 680,192 shares of the payment services company’s stock after selling 22,948 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of American Express worth $157,498,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AXP. Scarborough Advisors LLC bought a new stake in shares of American Express during the 4th quarter valued at $25,000. Sachetta LLC bought a new stake in American Express during the fourth quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of American Express in the fourth quarter valued at about $29,000. Game Plan Financial Advisors LLC boosted its stake in shares of American Express by 62.5% in the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after acquiring an additional 50 shares during the period. Finally, Creekmur Asset Management LLC purchased a new stake in shares of American Express during the fourth quarter worth about $32,000. Institutional investors own 84.33% of the company’s stock.

American Express Trading Up 1.5 %

AXP opened at $259.00 on Monday. American Express has a one year low of $140.91 and a one year high of $261.75. 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 has a market cap of $186.30 billion, a price-to-earnings ratio of 21.33, a P/E/G ratio of 1.42 and a beta of 1.21. The stock’s 50 day moving average price is $246.33 and its 200-day moving average price is $235.60.

American Express (NYSE:AXP) last released 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. The business had revenue of $16.33 billion for 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 business’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.89 earnings per share. On average, equities analysts forecast that American Express will post 13.12 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on AXP shares. JPMorgan Chase & Co. boosted their price target on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Wells Fargo & Company upped their target price on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Monness Crespi & Hardt lifted their price target on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Citigroup started coverage on shares of American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 price objective for the company. Finally, Royal Bank of Canada lifted their target price on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $230.70.

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.