Wealth Alliance Sells 288 Shares of American Express (NYSE:AXP)

Wealth Alliance cut its stake in shares of American Express (NYSE:AXP) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,982 shares of the payment services company’s stock after selling 288 shares during the quarter. Wealth Alliance’s holdings in American Express were worth $1,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Scarborough Advisors LLC purchased a new position in shares of American Express during the fourth quarter worth approximately $25,000. Sachetta LLC purchased a new position in shares of American Express during the fourth quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of American Express during the fourth quarter worth approximately $29,000. Game Plan Financial Advisors LLC raised its stake in shares of 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 acquiring an additional 50 shares in the last quarter. Finally, Creekmur Asset Management LLC purchased a new position in shares of American Express during the fourth quarter worth approximately $32,000. 84.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on AXP shares. Wells Fargo & Company lifted their price target on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Monness Crespi & Hardt lifted their target price on shares of American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Compass Point started coverage on shares of American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. Keefe, Bruyette & Woods lifted their target price on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Finally, Barclays lifted their target price on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research note 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 company. According to data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average price target of $230.78.

American Express Stock Performance

Shares of AXP stock opened at $262.21 on Thursday. American Express has a 12 month low of $140.91 and a 12 month high of $267.22. The stock has a market cap of $188.61 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The company’s fifty day moving average price is $247.89 and its 200-day moving average price is $236.40.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. During the same quarter in the previous year, the business posted $2.89 EPS. The company’s quarterly revenue was up 9.2% on a year-over-year basis. On average, equities analysts expect that American Express will post 13.12 EPS for the current fiscal year.

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.