Atlantic Union Bankshares Corp Sells 1,509 Shares of American Express (NYSE:AXP)

Atlantic Union Bankshares Corp trimmed its stake in American Express (NYSE:AXP) by 4.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,342 shares of the payment services company’s stock after selling 1,509 shares during the period. Atlantic Union Bankshares Corp’s holdings in American Express were worth $7,026,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AXP. International Assets Investment Management LLC lifted its stake in shares of American Express by 0.8% during the 4th quarter. International Assets Investment Management LLC now owns 54,832 shares of the payment services company’s stock worth $10,272,000 after acquiring an additional 433 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of American Express during the 4th quarter worth approximately $28,000. Federated Hermes Inc. lifted its stake in shares of American Express by 7.4% during the 4th quarter. Federated Hermes Inc. now owns 51,881 shares of the payment services company’s stock worth $9,719,000 after acquiring an additional 3,567 shares during the last quarter. CWM LLC lifted its stake in shares of American Express by 0.7% during the 4th quarter. CWM LLC now owns 19,103 shares of the payment services company’s stock worth $3,579,000 after acquiring an additional 137 shares during the last quarter. Finally, OLD National Bancorp IN lifted its stake in shares of American Express by 5.4% during the 4th quarter. OLD National Bancorp IN now owns 5,641 shares of the payment services company’s stock worth $1,057,000 after acquiring an additional 291 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Stock Performance

Shares of AXP stock traded up $3.54 on Friday, hitting $251.30. The company had a trading volume of 1,868,199 shares, compared to its average volume of 2,975,919. The firm has a market cap of $180.76 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 1.38 and a beta of 1.21. The company has a 50-day moving average price of $239.68 and a 200-day moving average price of $230.96. 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 has a twelve month low of $140.91 and a twelve month high of $256.24.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm 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 business earned $2.89 EPS. American Express’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities research analysts predict that American Express will post 13.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. BTIG Research assumed coverage on American Express in a report on Friday, June 7th. They issued a “neutral” rating on the stock. William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Barclays boosted their target price on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada boosted their target price on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Three 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.