Asset Dedication LLC Sells 156 Shares of American Express (NYSE:AXP)

Asset Dedication LLC cut its holdings in shares of American Express (NYSE:AXP) by 0.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,514 shares of the payment services company’s stock after selling 156 shares during the period. Asset Dedication LLC’s holdings in American Express were worth $7,992,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Gryphon Financial Partners LLC bought a new stake in shares of American Express during the 4th quarter valued at approximately $224,000. Principal Securities Inc. bought a new stake in shares of American Express during the fourth quarter worth $1,935,000. Berger Financial Group Inc acquired a new stake in shares of American Express during the fourth quarter valued at about $224,000. Versor Investments LP bought a new stake in shares of American Express during the fourth quarter worth about $824,000. Finally, Northwest Financial Advisors acquired a new position in shares of American Express in the fourth quarter valued at approximately $68,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the topic of several recent research reports. Compass Point initiated coverage on shares of American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price on the stock. Barclays raised their target price on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. Wells Fargo & Company boosted their price target on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Monness Crespi & Hardt raised their price objective on shares of American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group boosted their target price on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $230.70.

American Express Trading Down 3.1 %

Shares of American Express stock opened at $244.06 on Friday. 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 stock has a fifty day simple moving average of $244.57 and a 200 day simple moving average of $234.15. American Express has a 12-month low of $140.91 and a 12-month high of $261.75. The company has a market capitalization of $175.55 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21.

American Express (NYSE:AXP) last posted its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. 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 prior year, the business posted $2.89 EPS. The business’s revenue was up 9.2% compared to the same quarter last year. On average, sell-side analysts anticipate that American Express will post 13.12 earnings per share for the current fiscal year.

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.