Telemus Capital LLC cut its stake in shares of American Express (NYSE:AXP) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,999 shares of the payment services company’s stock after selling 116 shares during the quarter. Telemus Capital LLC’s holdings in American Express were worth $1,219,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in AXP. Chelsea Counsel Co. bought a new position in American Express in the 4th quarter worth $30,000. Steward Financial Group LLC boosted 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. Lakewood Asset Management LLC bought a new position in American Express in the 4th quarter worth approximately $37,000. Focused Wealth Management Inc boosted 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. Finally, Addison Advisors LLC boosted its stake in American Express by 44.8% in the 1st 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 currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have weighed in on AXP. Redburn Partners downgraded American Express from a “neutral” rating to a “sell” rating and set a $125.00 price target for the company. in a research note on Thursday, May 25th. Bank of America dropped their price objective on shares of American Express from $205.00 to $203.00 and set a “buy” rating for the company in a report on Monday, July 24th. 22nd Century Group reissued a “reiterates” rating on shares of American Express in a report on Friday, June 30th. Oppenheimer increased their price objective on shares of American Express from $180.00 to $193.00 and gave the company an “outperform” rating in a report on Tuesday, July 18th. Finally, Piper Sandler downgraded American Express from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $172.00 to $149.00 in a research report on Monday, July 24th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $173.06.
American Express Stock Up 1.2 %
Shares of AXP opened at $163.75 on Friday. The firm has a market capitalization of $120.60 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.00 and a beta of 1.19. American Express has a 12-month low of $130.65 and a 12-month high of $182.15. The firm has a fifty day moving average price of $164.69 and a 200-day moving average price 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 – Get Free Report) last released its quarterly earnings data 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 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 analysts’ expectations of $15.41 billion. During the same period in the previous year, the company earned $2.57 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts expect that American Express will post 11.13 earnings per share for the current year.
American Express Company 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.
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