Delta Investment Management LLC Sells 1,468 Shares of American Express (NYSE:AXP)

Delta Investment Management LLC lessened its position in shares of American Express (NYSE:AXP) by 40.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,205 shares of the payment services company’s stock after selling 1,468 shares during the period. Delta Investment Management LLC’s holdings in American Express were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Sawgrass Asset Management LLC lifted its stake 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 worth $2,404,000 after purchasing an additional 41 shares during the last quarter. Ignite Planners LLC raised its holdings 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 in the last quarter. Willner & Heller LLC boosted its stake in 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 in the last quarter. Beacon Capital Management LLC boosted its stake 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 buying an additional 43 shares in the last quarter. Finally, Capital Wealth Planning LLC grew its position in American Express by 4.0% in the second 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. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Royal Bank of Canada raised their target price on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Bank of America boosted their target price on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Monness Crespi & Hardt increased their price target on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Keefe, Bruyette & Woods boosted their price objective on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. 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 MarketBeat.com, American Express has an average rating of “Hold” and a consensus target price of $230.78.

American Express Stock Performance

AXP stock opened at $266.17 on Thursday. American Express has a 1-year low of $140.91 and a 1-year high of $272.41. 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 stock has a 50-day moving average price of $249.90 and a 200-day moving average price of $237.85. The firm has a market cap of $189.22 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21.

American Express (NYSE:AXP) last released its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (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 company had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. During the same quarter in the previous year, the company earned $2.89 EPS. American Express’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, equities research analysts expect that American Express will post 13.13 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is currently 23.06%.

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.