Dimensional Fund Advisors LP Sells 126,354 Shares of American Express (NYSE:AXP)

Dimensional Fund Advisors LP lessened its position in shares of American Express (NYSE:AXP) by 4.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,817,308 shares of the payment services company’s stock after selling 126,354 shares during the period. Dimensional Fund Advisors LP’s holdings in American Express were worth $652,310,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new stake in American Express in the fourth quarter valued at about $25,000. Sachetta LLC acquired a new stake in shares of American Express during the fourth quarter worth $29,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of American Express in the 4th quarter valued at $29,000. Game Plan Financial Advisors LLC raised its stake in American Express by 62.5% in the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after acquiring an additional 50 shares during the last quarter. Finally, Creekmur Asset Management LLC acquired a new stake in American Express during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AXP shares. Citigroup assumed coverage on American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 target price for the company. JPMorgan Chase & Co. upped their price target on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Jefferies Financial Group lifted their price objective on American Express from $225.00 to $235.00 and gave the company 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 issued a “neutral” rating on the stock. Finally, 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 report on Wednesday, August 21st. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $230.70.

American Express Trading Up 1.5 %

Shares of AXP stock opened at $259.00 on Monday. The company has a 50-day moving average of $246.33 and a two-hundred day moving average of $235.60. The firm has a market cap of $186.30 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. American Express has a 1-year low of $140.91 and a 1-year high of $261.75. 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 issued its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. The business had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.89 EPS. On average, analysts predict that American Express will post 13.12 EPS for the current 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.