Peoples Financial Services CORP. Sells 430 Shares of American Express (NYSE:AXP)

Peoples Financial Services CORP. trimmed its holdings in shares of American Express (NYSE:AXP) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,693 shares of the payment services company’s stock after selling 430 shares during the period. American Express accounts for about 1.1% of Peoples Financial Services CORP.’s investment portfolio, making the stock its 23rd biggest holding. Peoples Financial Services CORP.’s holdings in American Express were worth $2,560,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of AXP. Chelsea Counsel Co. acquired a new stake in American Express in the fourth quarter worth $30,000. Steward Financial Group LLC raised its holdings in American Express by 104.9% in 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 period. Lakewood Asset Management LLC acquired a new stake in American Express in the fourth quarter worth $37,000. Focused Wealth Management Inc raised its holdings in American Express by 1,400.0% in 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 period. Finally, Addison Advisors LLC raised its holdings in American Express by 44.8% in the first quarter. Addison Advisors LLC now owns 239 shares of the payment services company’s stock worth $39,000 after purchasing an additional 74 shares during the period. 83.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AXP. 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 restated an “underweight” rating and set a $146.00 price objective on shares of American Express in a report on Tuesday, July 18th. Robert W. Baird lowered shares of American Express from an “outperform” rating to a “neutral” rating and set a $185.00 price objective on the stock. in a report on Thursday, July 6th. Finally, 3M restated a “reiterates” rating on shares of American Express in a report on Friday, June 30th. 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $173.06.

American Express Stock Up 1.2 %

American Express stock opened at $163.75 on Friday. The company has a market cap of $120.60 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 1.00 and a beta of 1.19. American Express has a 1-year low of $130.65 and a 1-year high of $182.15. The company has a fifty day simple moving average of $164.69 and a 200 day simple moving average of $163.72. 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 announced 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. 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 last year, the firm posted $2.57 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Research analysts anticipate 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.