Chesapeake Wealth Management Has $1.52 Million Stock Position in American Express (NYSE:AXP)

Chesapeake Wealth Management cut its position in American Express (NYSE:AXP) by 8.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,556 shares of the payment services company’s stock after selling 569 shares during the quarter. Chesapeake Wealth Management’s holdings in American Express were worth $1,518,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Cetera Advisors LLC grew its position in shares of American Express by 119.6% in the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock valued at $8,993,000 after purchasing an additional 21,508 shares during the last quarter. Empowered Funds LLC boosted its stake in American Express by 102.9% during the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock valued at $2,842,000 after purchasing an additional 6,329 shares during the period. Sciencast Management LP acquired a new stake in American Express in the 1st quarter valued at approximately $1,881,000. New Mexico Educational Retirement Board increased its position in American Express by 15.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock worth $8,143,000 after buying an additional 4,800 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of American Express by 49.0% during the first quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock worth $63,550,000 after buying an additional 91,760 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 0.1 %

Shares of NYSE AXP opened at $268.95 on Friday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The company has a market cap of $193.46 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. American Express has a 12-month low of $140.91 and a 12-month 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 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 company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.89 earnings per share. On average, research analysts expect that American Express will post 13.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

AXP has been the topic of a number of research reports. Citigroup assumed coverage on shares of American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 target price on the stock. Compass Point assumed coverage on shares of American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective on the stock. Jefferies Financial Group increased their target price on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. William Blair restated an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Finally, Wells Fargo & Company raised their price objective on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $230.78.

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.