Stock Yards Bank & Trust Co. Trims Stock Holdings in American Express (NYSE:AXP)

Stock Yards Bank & Trust Co. lessened its stake in shares of American Express (NYSE:AXP) by 4.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,373 shares of the payment services company’s stock after selling 390 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in American Express were worth $2,170,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Cetera Advisors LLC increased its holdings in American Express by 119.6% in the 1st quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock valued at $8,993,000 after purchasing an additional 21,508 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of American Express by 102.9% in the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock valued at $2,842,000 after buying an additional 6,329 shares during the period. Sciencast Management LP acquired a new position in American Express during the 1st quarter worth about $1,881,000. New Mexico Educational Retirement Board boosted its holdings in American Express by 15.5% during the 1st quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock valued at $8,143,000 after acquiring an additional 4,800 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in American Express by 49.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock valued at $63,550,000 after acquiring an additional 91,760 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Trading Up 1.7 %

NYSE:AXP opened at $265.49 on Wednesday. The company has a market capitalization of $190.97 billion, a PE ratio of 21.87, a P/E/G ratio of 1.42 and a beta of 1.21. American Express has a 52-week low of $140.91 and a 52-week high of $267.22. The stock’s 50 day moving average price is $247.42 and its 200 day moving average price is $236.22. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same period last year, the firm posted $2.89 earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, research analysts anticipate that American Express will post 13.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AXP. Monness Crespi & Hardt increased their price target on shares of American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company raised their price target on shares of American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Barclays upped their price objective on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. Jefferies Financial Group increased their price objective on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. boosted their target price on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $230.78.

American Express Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.