Raymond James Trust N.A. Sells 1,786 Shares of American Express (NYSE:AXP)

Raymond James Trust N.A. lowered its holdings in shares of American Express (NYSE:AXP) by 7.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,732 shares of the payment services company’s stock after selling 1,786 shares during the quarter. Raymond James Trust N.A.’s holdings in American Express were worth $5,264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AXP. Highland Capital Management LLC lifted its holdings in shares of American Express by 11.3% in the 2nd quarter. Highland Capital Management LLC now owns 39,088 shares of the payment services company’s stock valued at $9,051,000 after acquiring an additional 3,980 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in American Express by 20.9% during the second quarter. Capital Advisors Ltd. LLC now owns 1,266 shares of the payment services company’s stock valued at $293,000 after purchasing an additional 219 shares during the period. AMG National Trust Bank lifted its stake in shares of American Express by 27.7% in the 2nd quarter. AMG National Trust Bank now owns 33,307 shares of the payment services company’s stock valued at $7,712,000 after purchasing an additional 7,223 shares during the last quarter. POM Investment Strategies LLC purchased a new position in shares of American Express in the 2nd quarter worth approximately $42,000. Finally, Calamos Wealth Management LLC increased its position in shares of American Express by 2.5% during the 2nd quarter. Calamos Wealth Management LLC now owns 53,118 shares of the payment services company’s stock valued at $12,299,000 after purchasing an additional 1,302 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Up 1.4 %

Shares of NYSE AXP traded up $3.46 during midday trading on Monday, reaching $254.76. 236,912 shares of the company’s stock traded hands, compared to its average volume of 2,959,222. The company has a market cap of $183.25 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 1.38 and a beta of 1.21. The stock’s 50 day simple moving average is $239.68 and its 200-day simple moving average is $231.30. 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 one year low of $140.91 and a one year high of $256.24.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The company had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.89 earnings per share. On average, analysts predict that American Express will post 13.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AXP has been the subject of several recent analyst reports. Royal Bank of Canada lifted their price objective on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Wells Fargo & Company upped their price target on shares of American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Jefferies Financial Group raised their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. BTIG Research started coverage on American Express in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Bank of America downgraded American Express from a “buy” rating to a “neutral” rating and set a $263.00 price target on the stock. in a report on Wednesday, August 21st. Three equities 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.