Birmingham Capital Management Co. Inc. AL Lowers Stake in American Express (NYSE:AXP)

Birmingham Capital Management Co. Inc. AL lessened its holdings in American Express (NYSE:AXP) by 1.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,049 shares of the payment services company’s stock after selling 476 shares during the quarter. American Express comprises 1.7% of Birmingham Capital Management Co. Inc. AL’s portfolio, making the stock its 21st largest position. Birmingham Capital Management Co. Inc. AL’s holdings in American Express were worth $4,297,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Moneta Group Investment Advisors LLC increased its holdings in shares of American Express by 118,198.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,732,068 shares of the payment services company’s stock valued at $2,028,913,000 after acquiring an additional 13,720,460 shares in the last quarter. Norges Bank purchased a new stake in American Express during the 4th quarter valued at $911,554,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of American Express by 139.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,869,384 shares of the payment services company’s stock valued at $1,133,106,000 after buying an additional 3,996,083 shares during the period. FMR LLC increased its position in American Express by 32.3% during the first quarter. FMR LLC now owns 6,356,786 shares of the payment services company’s stock valued at $1,048,552,000 after acquiring an additional 1,551,053 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in American Express by 3,431.6% in the first quarter. Jennison Associates LLC now owns 1,286,952 shares of the payment services company’s stock valued at $212,283,000 after acquiring an additional 1,250,511 shares during the period. Institutional investors own 83.08% of the company’s stock.

Analysts Set New Price Targets

AXP has been the subject of several research reports. Bank of America reduced their price target on shares of American Express from $205.00 to $203.00 and set a “buy” rating for the company in a research report on Monday, July 24th. Oppenheimer boosted their price target on American Express from $180.00 to $193.00 and gave the stock an “outperform” rating in a report on Tuesday, July 18th. Robert W. Baird downgraded shares of American Express from an “outperform” rating to a “neutral” rating and set a $185.00 price objective for the company. in a report on Thursday, July 6th. Piper Sandler cut American Express from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $172.00 to $149.00 in a report on Monday, July 24th. Finally, Royal Bank of Canada upgraded shares of American Express from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $197.00 to $200.00 in a research report on Tuesday, September 5th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, American Express has a consensus rating of “Hold” and a consensus target price of $173.06.

American Express Price Performance

Shares of AXP opened at $158.46 on Wednesday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.59 and a current ratio of 1.59. The company has a 50 day moving average price of $165.33 and a 200-day moving average price of $163.90. American Express has a fifty-two week low of $130.65 and a fifty-two week high of $182.15. The stock has a market capitalization of $116.70 billion, a PE ratio of 16.13, a PEG ratio of 0.99 and a beta of 1.19.

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, topping analysts’ consensus estimates of $2.81 by $0.08. American Express had a net margin of 12.99% and a return on equity of 29.26%. The company had revenue of $15.05 billion during the quarter, compared to the consensus estimate of $15.41 billion. During the same quarter in the previous year, the firm posted $2.57 earnings per share. American Express’s revenue for the quarter was up 12.4% compared to the same quarter last year. Equities analysts predict that American Express will post 11.13 earnings per share for the current fiscal year.

American Express Profile

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.