Greenwood Gearhart Inc. Cuts Stake in American Express (NYSE:AXP)

Greenwood Gearhart Inc. cut its holdings in shares of American Express (NYSE:AXP) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,513 shares of the payment services company’s stock after selling 110 shares during the quarter. Greenwood Gearhart Inc.’s holdings in American Express were worth $1,508,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Game Plan Financial Advisors LLC lifted its stake in American Express by 62.5% in the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC bought a new stake in shares of American Express in the 4th quarter valued at about $25,000. Sachetta LLC purchased a new stake in American Express during the 4th quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC purchased a new position in American Express in the 4th quarter worth approximately $29,000. Finally, DHJJ Financial Advisors Ltd. lifted its position in American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Price Performance

AXP opened at $245.46 on Wednesday. American Express has a 1 year low of $140.91 and a 1 year high of $261.75. The stock has a 50-day moving average price of $245.10 and a 200-day moving average price of $234.79. The firm has a market cap of $176.56 billion, a PE ratio of 20.22, a P/E/G ratio of 1.37 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. During the same period in the previous year, the business earned $2.89 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. Sell-side analysts predict that American Express will post 13.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AXP shares. Citigroup started coverage on shares of American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 target price on the stock. Bank of America downgraded shares of American Express from a “buy” rating to a “neutral” rating and set a $263.00 price objective for the company. in a research note on Wednesday, August 21st. Royal Bank of Canada raised 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. Jefferies Financial Group upped their price target on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price objective on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research report on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.