Woodstock Corp Sells 888 Shares of American Express (NYSE:AXP)

Woodstock Corp trimmed its position in shares of American Express (NYSE:AXP) by 10.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,350 shares of the payment services company’s stock after selling 888 shares during the period. Woodstock Corp’s holdings in American Express were worth $1,280,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AXP. Sheets Smith Wealth Management purchased a new position in American Express in the 1st quarter worth approximately $448,000. Elequin Securities LLC purchased a new position in American Express in the 4th quarter worth approximately $25,000. Chelsea Counsel Co. purchased a new position in American Express in the 4th quarter worth approximately $30,000. Steward Financial Group LLC increased its stake in American Express by 104.9% in the 1st 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 period. Finally, Focused Wealth Management Inc increased its stake in American Express by 1,400.0% in the 1st 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 period. 83.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AXP has been the topic of a number of analyst reports. Piper Sandler cut American Express from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $172.00 to $149.00 in a research note on Monday, July 24th. 22nd Century Group reissued a “reiterates” rating on shares of American Express in a research note on Friday, June 30th. Royal Bank of Canada raised American Express from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $197.00 to $200.00 in a research note on Tuesday, September 5th. 51job reissued a “reiterates” rating on shares of American Express in a research note on Friday, June 30th. Finally, Robert W. Baird cut American Express from an “outperform” rating to a “neutral” rating and set a $185.00 target price on the stock. in a research note on Thursday, July 6th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, American Express has an average rating of “Hold” and an average price target of $173.06.

American Express Stock Up 0.9 %

American Express stock traded up $1.45 during mid-day trading on Friday, hitting $163.23. The company had a trading volume of 1,150,267 shares, compared to its average volume of 3,162,918. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.75. The stock’s 50 day moving average price is $165.00 and its two-hundred day moving average price is $163.87. American Express has a 12 month low of $130.65 and a 12 month high of $182.15. The company has a market capitalization of $120.21 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 1.00 and a beta of 1.19.

American Express (NYSE:AXP) last released its earnings results on Friday, July 21st. The payment services company reported $2.89 EPS for the quarter, topping 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 business had revenue of $15.05 billion for the quarter, compared to the consensus estimate of $15.41 billion. During the same period in the previous year, the company posted $2.57 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that American Express will post 11.13 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.