GHP Investment Advisors Inc. Decreases Stock Holdings in American Express (NYSE:AXP)

GHP Investment Advisors Inc. decreased its stake in shares of American Express (NYSE:AXP) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 57,888 shares of the payment services company’s stock after selling 782 shares during the quarter. GHP Investment Advisors Inc.’s holdings in American Express were worth $13,404,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sawgrass Asset Management LLC boosted its stake in shares of American Express by 0.4% in the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after buying an additional 41 shares during the last quarter. Spire Wealth Management lifted its holdings in American Express by 1.0% in the first quarter. Spire Wealth Management now owns 4,315 shares of the payment services company’s stock valued at $983,000 after acquiring an additional 42 shares during the period. Ignite Planners LLC lifted its holdings in American Express by 0.9% in the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after acquiring an additional 43 shares during the period. Willner & Heller LLC grew its stake in shares of American Express by 4.1% during the 2nd quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after purchasing an additional 43 shares during the period. Finally, Beacon Capital Management LLC increased its position in shares of American Express by 18.9% during the 2nd quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock valued at $63,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AXP. Bank of America lowered shares of American Express from a “buy” rating to a “neutral” rating and set a $263.00 target price for the company. in a research report on Wednesday, August 21st. William Blair reissued an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Wells Fargo & Company upped their price objective on American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Jefferies Financial Group lifted their target price 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. upped their price target 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 investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, American Express presently has an average rating of “Hold” and an average price target of $230.70.

American Express Trading Up 0.4 %

Shares of American Express stock opened at $255.10 on Friday. American Express has a twelve month low of $140.91 and a twelve month high of $261.75. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The business has a 50-day moving average price of $245.86 and a 200-day moving average price of $235.06. The firm has a market cap of $183.49 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.37 and a beta of 1.21.

American Express (NYSE:AXP) last released 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. The business 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 firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.89 EPS. Equities research analysts anticipate that American Express will post 13.12 EPS for the current fiscal year.

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.