Foundations Investment Advisors LLC Sells 722 Shares of American Express (NYSE:AXP)

Foundations Investment Advisors LLC lowered its position in shares of American Express (NYSE:AXP) by 5.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,585 shares of the payment services company’s stock after selling 722 shares during the quarter. Foundations Investment Advisors LLC’s holdings in American Express were worth $2,914,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Scarborough Advisors LLC acquired a new stake in American Express in the fourth quarter worth about $25,000. Sachetta LLC acquired a new stake in shares of American Express during the 4th quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of American Express during the 4th quarter worth approximately $29,000. Game Plan Financial Advisors LLC raised its stake in shares of American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after buying an additional 50 shares during the last quarter. Finally, Creekmur Asset Management LLC acquired a new position in American Express in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Ratings Changes

AXP has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Wells Fargo & Company boosted their target price on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Bank of America cut American Express from a “buy” rating to a “neutral” rating and set a $263.00 price target for the company. in a research note on Wednesday, August 21st. Citigroup assumed coverage on shares of American Express in a research note on Monday, June 10th. They set a “neutral” rating and a $250.00 price objective on the stock. Finally, BTIG Research started coverage on shares of American Express in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, American Express presently has an average rating of “Hold” and a consensus price target of $230.70.

American Express Trading Down 1.0 %

Shares of NYSE:AXP opened at $251.74 on Thursday. American Express has a 52-week low of $140.91 and a 52-week high of $261.75. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $178.96 billion, a P/E ratio of 20.74, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21. The company has a 50-day simple moving average of $243.86 and a 200 day simple moving average of $233.65.

American Express (NYSE:AXP) last released its quarterly earnings data 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. The company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s revenue was up 9.2% on a year-over-year basis. During the same period last year, the firm posted $2.89 earnings per share. Sell-side analysts forecast that American Express will post 13.12 earnings per share for the current year.

About American Express

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.