SYSTM Wealth Solutions LLC Cuts Position in American Express (NYSE:AXP)

SYSTM Wealth Solutions LLC decreased its position in shares of American Express (NYSE:AXP) by 42.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,807 shares of the payment services company’s stock after selling 1,325 shares during the period. SYSTM Wealth Solutions LLC’s holdings in American Express were worth $418,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AXP. Alphinity Investment Management Pty Ltd purchased a new stake in American Express in the first quarter worth approximately $433,709,000. TD Asset Management Inc boosted its stake in shares of American Express by 62.1% in 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 in the last quarter. Price T Rowe Associates Inc. MD raised its position 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 worth $1,923,399,000 after purchasing an additional 662,382 shares during the period. Bank of Nova Scotia lifted its stake in American Express by 969.9% in the fourth quarter. Bank of Nova Scotia now owns 602,726 shares of the payment services company’s stock worth $112,910,000 after purchasing an additional 546,389 shares during the last quarter. Finally, M&G Plc purchased a new stake in American Express during the first quarter valued at about $114,990,000. Institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AXP. Wells Fargo & Company boosted their target price on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. William Blair reissued an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Bank of America raised their target price on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday. Royal Bank of Canada upped their price target on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, Monness Crespi & Hardt raised their price target on shares of American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a report 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 assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $230.78.

American Express Stock Down 1.2 %

AXP opened at $262.21 on Thursday. The stock has a market capitalization of $188.61 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.42 and a beta of 1.21. The firm has a 50 day moving average price of $247.89 and a 200-day moving average price of $236.40. American Express has a twelve month low of $140.91 and a twelve month high of $267.22. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share 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 net margin of 15.53% and a return on equity of 32.94%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.89 EPS. Equities research analysts forecast that American Express will post 13.12 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.