American Express (NYSE:AXP) Shares Sold by Edge Capital Group LLC

Edge Capital Group LLC cut its stake in shares of American Express (NYSE:AXP) by 2.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,373 shares of the payment services company’s stock after selling 109 shares during the period. Edge Capital Group LLC’s holdings in American Express were worth $1,244,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gryphon Financial Partners LLC acquired a new position in shares of American Express in the 4th quarter valued at approximately $224,000. Prairieview Wealth Partners LLC acquired a new position in shares of American Express in the 4th quarter valued at approximately $341,000. Cambridge Investment Research Advisors Inc. raised its position in shares of American Express by 5.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 79,090 shares of the payment services company’s stock valued at $14,817,000 after purchasing an additional 3,788 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of American Express by 6.7% in the 4th quarter. Advisory Services Network LLC now owns 24,533 shares of the payment services company’s stock valued at $4,596,000 after acquiring an additional 1,539 shares during the last quarter. Finally, Congress Wealth Management LLC DE increased its holdings in shares of American Express by 196.2% in the 4th quarter. Congress Wealth Management LLC DE now owns 10,046 shares of the payment services company’s stock valued at $1,882,000 after acquiring an additional 6,654 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Trading Up 0.1 %

Shares of AXP stock opened at $268.99 on Monday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. American Express has a 1 year low of $140.91 and a 1 year high of $271.49. The stock has a fifty day moving average of $249.10 and a two-hundred day moving average of $237.24. The firm has a market capitalization of $193.49 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $16.60 billion. During the same quarter in the previous year, the firm posted $2.89 EPS. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, research analysts expect that American Express will post 13.12 EPS for the current year.

Analysts Set New Price Targets

AXP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Royal Bank of Canada boosted their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Compass Point initiated coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target for the company. Monness Crespi & Hardt boosted their price target on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, American Express presently has a consensus rating of “Hold” and an average price target of $230.78.

About American Express

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.