Rathbones Group PLC Trims Stock Position in American Express (NYSE:AXP)

Rathbones Group PLC lessened its stake in shares of American Express (NYSE:AXP) by 21.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,557 shares of the payment services company’s stock after selling 2,269 shares during the quarter. Rathbones Group PLC’s holdings in American Express were worth $1,411,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. RB Capital Management LLC raised its position in American Express by 5.3% in the 1st quarter. RB Capital Management LLC now owns 3,783 shares of the payment services company’s stock valued at $707,000 after purchasing an additional 190 shares during the last quarter. Roundview Capital LLC raised its position in American Express by 0.4% in the 1st quarter. Roundview Capital LLC now owns 27,029 shares of the payment services company’s stock valued at $5,054,000 after purchasing an additional 105 shares during the last quarter. Zions Bancorporation N.A. raised its position in American Express by 5.6% in the 1st quarter. Zions Bancorporation N.A. now owns 1,421 shares of the payment services company’s stock valued at $266,000 after purchasing an additional 75 shares during the last quarter. Covestor Ltd raised its position in American Express by 207.1% in the 1st quarter. Covestor Ltd now owns 946 shares of the payment services company’s stock valued at $177,000 after purchasing an additional 638 shares during the last quarter. Finally, Donaldson Capital Management LLC purchased a new stake in American Express in the 1st quarter valued at $397,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Analyst Ratings Changes

AXP has been the subject of several research reports. StockNews.com initiated coverage on shares of American Express in a research report on Thursday, August 17th. They issued a “hold” rating for the company. 58.com reissued a “reiterates” rating on shares of American Express in a research note on Friday, June 30th. Morgan Stanley reissued an “overweight” rating and issued a $188.00 price objective on shares of American Express in a research note on Monday, July 24th. Oppenheimer boosted their price objective on shares of American Express from $180.00 to $193.00 and gave the company an “outperform” rating in a research note on Tuesday, July 18th. Finally, Robert W. Baird cut shares of American Express from an “outperform” rating to a “neutral” rating and set a $185.00 price objective on the stock. in a research note on Thursday, July 6th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and a consensus price target of $172.88.

American Express Price Performance

Shares of NYSE AXP opened at $160.17 on Thursday. The stock has a market cap of $117.96 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.00 and a beta of 1.19. American Express has a 52 week low of $130.65 and a 52 week high of $182.15. The company’s 50-day moving average price is $167.58 and its 200 day moving average price is $165.19. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.75.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, July 21st. The payment services company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.08. The firm had revenue of $15.05 billion for the quarter, compared to analysts’ expectations of $15.41 billion. American Express had a net margin of 12.99% and a return on equity of 29.26%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.57 EPS. As a group, research analysts forecast that American Express will post 11.14 earnings per share for the current fiscal year.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.