Freestone Capital Holdings LLC Has $4.09 Million Stake in American Express (NYSE:AXP)

Freestone Capital Holdings LLC decreased its holdings in shares of American Express (NYSE:AXP) by 0.3% in the 1st quarter, Holdings Channel reports. The fund owned 24,779 shares of the payment services company’s stock after selling 72 shares during the period. Freestone Capital Holdings LLC’s holdings in American Express were worth $4,087,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of AXP. Elequin Securities LLC acquired a new position in American Express during the fourth quarter worth about $25,000. Chelsea Counsel Co. bought a new stake in shares of American Express during the fourth quarter worth about $30,000. Steward Financial Group LLC grew its holdings in shares of American Express by 104.9% during the first quarter. Steward Financial Group LLC now owns 211 shares of the payment services company’s stock worth $34,000 after purchasing an additional 108 shares during the last quarter. Lakewood Asset Management LLC bought a new stake in shares of American Express during the fourth quarter worth about $37,000. Finally, Focused Wealth Management Inc grew its holdings in shares of American Express by 1,400.0% during the first quarter. Focused Wealth Management Inc now owns 225 shares of the payment services company’s stock worth $37,000 after purchasing an additional 210 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.

Analyst Ratings Changes

AXP has been the topic of several research reports. Robert W. Baird cut American Express from an “outperform” rating to a “neutral” rating and set a $185.00 price target on the stock. in a report on Thursday, July 6th. Morgan Stanley reiterated an “overweight” rating and issued a $188.00 target price on shares of American Express in a report on Monday, July 24th. 58.com reiterated a “reiterates” rating on shares of American Express in a report on Friday, June 30th. Stephens reiterated an “underweight” rating and issued a $146.00 target price on shares of American Express in a report on Tuesday, July 18th. Finally, Oppenheimer upped their target price on American Express from $180.00 to $193.00 and gave the company an “outperform” rating in a report on Tuesday, July 18th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus price target of $173.06.

American Express Price Performance

Shares of NYSE:AXP opened at $157.43 on Friday. American Express has a twelve month low of $130.65 and a twelve month high of $182.15. The firm has a market capitalization of $115.94 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 0.99 and a beta of 1.19. The stock’s 50 day moving average is $166.02 and its 200-day moving average is $164.27. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.75.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 21st. The payment services company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.08. American Express had a return on equity of 29.26% and a net margin of 12.99%. The firm had revenue of $15.05 billion during the quarter, compared to analyst estimates of $15.41 billion. During the same period last year, the firm posted $2.57 EPS. The business’s revenue was up 12.4% compared to the same quarter last year. Sell-side analysts forecast that American Express will post 11.13 EPS 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.