American Express (NYSE:AXP) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC decreased its stake in shares of American Express (NYSE:AXP) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,870 shares of the payment services company’s stock after selling 171 shares during the period. Summit Trail Advisors LLC’s holdings in American Express were worth $2,517,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in AXP. Sawgrass Asset Management LLC raised its stake in American Express by 0.4% in the 2nd 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 during the last quarter. Ignite Planners LLC grew its holdings in shares of American Express by 0.9% during the second 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 in the last quarter. Willner & Heller LLC raised its position in shares of American Express by 4.1% in the second 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 during the last quarter. Beacon Capital Management LLC boosted its position in American Express by 18.9% during the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock worth $63,000 after acquiring an additional 43 shares during the last quarter. Finally, Capital Wealth Planning LLC raised its holdings in American Express by 4.0% in the 2nd quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock valued at $257,000 after acquiring an additional 43 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Up 0.1 %

AXP stock opened at $268.95 on Friday. The stock has a market cap of $193.46 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. 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 has a fifty-two week low of $140.91 and a fifty-two week high of $271.49. The firm’s 50-day simple moving average is $249.10 and its 200 day simple moving average is $236.97.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The company had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. American Express’s revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.89 EPS. As a group, sell-side analysts predict that American Express will post 13.12 EPS for the current year.

Wall Street Analyst Weigh In

AXP has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Bank of America boosted their price target on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday. Citigroup began coverage on American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price objective on the stock. Compass Point started coverage on shares of American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price for the company. Finally, Jefferies Financial Group boosted their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Three research 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’s stock. According to data from MarketBeat, American Express presently has an average rating of “Hold” and an average price target of $230.78.

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.