Constitution Capital LLC Sells 4,250 Shares of American Express (NYSE:AXP)

Constitution Capital LLC decreased its position in shares of American Express (NYSE:AXP) by 29.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,150 shares of the payment services company’s stock after selling 4,250 shares during the quarter. American Express comprises approximately 1.0% of Constitution Capital LLC’s investment portfolio, making the stock its 19th biggest holding. Constitution Capital LLC’s holdings in American Express were worth $1,768,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Keel Point LLC boosted its stake in American Express by 16.2% during the 2nd quarter. Keel Point LLC now owns 1,625 shares of the payment services company’s stock worth $283,000 after acquiring an additional 226 shares during the last quarter. Herbst Group LLC lifted its stake in American Express by 0.9% in the second quarter. Herbst Group LLC now owns 11,600 shares of the payment services company’s stock valued at $2,021,000 after buying an additional 100 shares in the last quarter. Matthew Goff Investment Advisor LLC lifted its stake in American Express by 4.7% in the second quarter. Matthew Goff Investment Advisor LLC now owns 59,241 shares of the payment services company’s stock valued at $10,317,000 after buying an additional 2,660 shares in the last quarter. Windsor Group LTD lifted its stake in American Express by 12.0% in the second quarter. Windsor Group LTD now owns 1,781 shares of the payment services company’s stock valued at $310,000 after buying an additional 191 shares in the last quarter. Finally, Berkshire Bank lifted its stake in American Express by 0.9% in the second quarter. Berkshire Bank now owns 9,446 shares of the payment services company’s stock valued at $1,645,000 after buying an additional 81 shares in the last quarter. Institutional investors own 83.08% of the company’s stock.

American Express Stock Performance

Shares of American Express stock traded down $0.84 during trading on Tuesday, reaching $158.79. The company’s stock had a trading volume of 482,502 shares, compared to its average volume of 3,178,675. The business’s 50-day moving average price is $164.69 and its 200-day moving average price is $163.63. The firm has a market cap of $116.94 billion, a PE ratio of 16.24, a P/E/G ratio of 1.03 and a beta of 1.19. American Express has a 52 week low of $130.65 and a 52 week high of $182.15. 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 analysts’ consensus estimates of $2.81 by $0.08. The company had revenue of $15.05 billion during the quarter, compared to analysts’ expectations of $15.41 billion. American Express had a net margin of 12.99% and a return on equity of 29.26%. American Express’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.57 earnings per share. Equities analysts forecast that American Express will post 11.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AXP shares. Robert W. Baird lowered shares of American Express from an “outperform” rating to a “neutral” rating and set a $185.00 price target on the stock. in a research note on Thursday, July 6th. StockNews.com started coverage on shares of American Express in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Morgan Stanley reissued an “overweight” rating and issued a $188.00 price objective on shares of American Express in a research report on Monday, July 24th. Royal Bank of Canada raised shares of American Express from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $197.00 to $200.00 in a research report on Tuesday, September 5th. Finally, Bank of America cut their price objective on shares of American Express from $205.00 to $203.00 and set a “buy” rating on the stock in a research report on Monday, July 24th. Five research 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 MarketBeat, the company presently has an average rating of “Hold” and an average target price of $173.06.

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.