American Express (NYSE:AXP) Shares Sold by Godshalk Welsh Capital Management Inc.

Godshalk Welsh Capital Management Inc. reduced its holdings in American Express (NYSE:AXP) by 1.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 12,613 shares of the payment services company’s stock after selling 250 shares during the quarter. American Express makes up 2.0% of Godshalk Welsh Capital Management Inc.’s portfolio, making the stock its 9th biggest position. Godshalk Welsh Capital Management Inc.’s holdings in American Express were worth $2,921,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sawgrass Asset Management LLC boosted its holdings in American Express by 0.4% during the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after purchasing an additional 41 shares in the last quarter. Ignite Planners LLC lifted its position in shares of American Express by 0.9% during the 2nd quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock worth $1,103,000 after buying an additional 43 shares during the period. Willner & Heller LLC boosted its stake in American Express by 4.1% in the 2nd quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after buying an additional 43 shares in the last quarter. Beacon Capital Management LLC grew its position in American Express by 18.9% in the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock valued at $63,000 after acquiring an additional 43 shares during the period. Finally, Capital Wealth Planning LLC raised its stake in American Express by 4.0% during the second quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock worth $257,000 after acquiring an additional 43 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on AXP. BTIG Research assumed coverage on American Express in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Wells Fargo & Company increased their price objective on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Compass Point started coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Finally, Jefferies Financial Group increased their price objective on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. Three 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $230.78.

American Express Price Performance

Shares of NYSE AXP opened at $268.75 on Friday. The stock has a market capitalization of $193.31 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 1.42 and a beta of 1.21. The business has a 50-day moving average of $248.49 and a 200-day moving average of $236.62. 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 fifty-two week low of $140.91 and a fifty-two week high of $270.10.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating 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 company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. During the same quarter last year, the company earned $2.89 EPS. American Express’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, sell-side analysts predict that American Express will post 13.12 earnings per share 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.