Agate Pass Investment Management LLC Lowers Position in American Express (NYSE:AXP)

Agate Pass Investment Management LLC lowered its stake in shares of American Express (NYSE:AXP) by 8.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,008 shares of the payment services company’s stock after selling 177 shares during the period. Agate Pass Investment Management LLC’s holdings in American Express were worth $465,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Scarborough Advisors LLC purchased a new stake in American Express during the fourth quarter valued at about $25,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of American Express during the 4th quarter worth about $28,000. Sachetta LLC purchased a new stake in shares of American Express during the 4th quarter worth about $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in American Express during the 4th quarter worth approximately $29,000. Finally, WFA Asset Management Corp purchased a new position in American Express in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

AXP traded up $1.94 on Tuesday, reaching $238.99. The company had a trading volume of 1,909,769 shares, compared to its average volume of 3,015,947. The company has a market capitalization of $171.91 billion, a P/E ratio of 19.60, a PEG ratio of 1.38 and a beta of 1.21. 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 company has a fifty day moving average of $236.27 and a 200-day moving average of $228.49. American Express has a one year low of $140.91 and a one year high of $256.24.

American Express (NYSE:AXP) last issued its quarterly 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. 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 during the quarter, compared to analyst estimates of $16.60 billion. During the same period in the prior year, the business posted $2.89 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities research analysts anticipate that American Express will post 13.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AXP. BTIG Research began coverage on shares of American Express in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Keefe, Bruyette & Woods raised their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Compass Point initiated coverage on American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective on the stock. Robert W. Baird increased their target price on American Express from $190.00 to $205.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $230.70.

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.