Accredited Investors Inc. Decreases Stock Holdings in American Express (NYSE:AXP)

Accredited Investors Inc. decreased its holdings in shares of American Express (NYSE:AXP) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,653 shares of the payment services company’s stock after selling 175 shares during the period. Accredited Investors Inc.’s holdings in American Express were worth $846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Wealth Management Investment Advisory Inc. increased its position in shares of American Express by 5.5% during the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 11,587 shares of the payment services company’s stock worth $2,171,000 after purchasing an additional 609 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in American Express by 35.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 9,806 shares of the payment services company’s stock valued at $1,837,000 after acquiring an additional 2,572 shares in the last quarter. Ieq Capital LLC grew its position in American Express by 11.2% in the 4th quarter. Ieq Capital LLC now owns 23,030 shares of the payment services company’s stock valued at $4,314,000 after acquiring an additional 2,319 shares in the last quarter. US Asset Management LLC acquired a new position in American Express in the 4th quarter valued at about $657,000. Finally, MeadowBrook Investment Advisors LLC acquired a new position in American Express in the 4th quarter valued at about $1,098,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

AXP traded up $2.34 during trading on Monday, hitting $254.05. 1,652,179 shares of the stock were exchanged, compared to its average volume of 2,994,106. The firm has a market capitalization of $182.74 billion, a P/E ratio of 20.93, a PEG ratio of 1.38 and a beta of 1.21. American Express has a 1-year low of $140.91 and a 1-year high of $256.24. The stock has a fifty day moving average price of $237.62 and a two-hundred day moving average price of $230.09. 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 (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 return on equity of 32.94% and a net margin of 15.53%. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same quarter in the previous year, the company posted $2.89 earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, sell-side analysts predict that American Express will post 13.24 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on AXP shares. Morgan Stanley lifted their target price on American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a research report on Monday, April 22nd. Keefe, Bruyette & Woods lifted their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Barclays lifted their price objective on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. Monness Crespi & Hardt lifted their price objective 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, Deutsche Bank Aktiengesellschaft lifted their price objective on American Express from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, American Express presently has an average rating of “Hold” and an average target price of $230.70.

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.