American Express (NYSE:AXP) Stake Lowered by Family Capital Trust Co

Family Capital Trust Co decreased its stake in American Express (NYSE:AXP) by 4.3% in the 2nd quarter, Holdings Channel reports. The firm owned 39,793 shares of the payment services company’s stock after selling 1,802 shares during the quarter. American Express accounts for approximately 3.0% of Family Capital Trust Co’s portfolio, making the stock its 9th biggest position. Family Capital Trust Co’s holdings in American Express were worth $9,214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in AXP. Price T Rowe Associates Inc. MD increased its position in shares of American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after buying an additional 662,382 shares in the last quarter. Norges Bank acquired a new stake in American Express in the 4th quarter valued at about $1,112,747,000. Artisan Partners Limited Partnership increased its holdings in American Express by 11.4% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,855,211 shares of the payment services company’s stock valued at $909,575,000 after acquiring an additional 496,153 shares in the last quarter. TD Asset Management Inc raised its position in American Express by 8.2% during the first quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock worth $590,940,000 after acquiring an additional 195,876 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of American Express by 22.2% in the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after purchasing an additional 387,166 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. BTIG Research initiated coverage on American Express in a research report on Friday, June 7th. They set a “neutral” rating for the company. JPMorgan Chase & Co. boosted their price target on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Keefe, Bruyette & Woods increased their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Jefferies Financial Group boosted their target price on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research note on Tuesday, July 9th. Finally, Citigroup started coverage on shares of American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 price target for the company. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, American Express has an average rating of “Hold” and an average price target of $230.70.

American Express Stock Performance

NYSE:AXP opened at $259.07 on Friday. American Express has a twelve month low of $140.91 and a twelve month high of $261.75. The firm has a market capitalization of $186.35 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.42 and a beta of 1.21. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm’s fifty day simple moving average is $246.33 and its 200 day simple moving average is $235.36.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.89 earnings per share. As a group, equities research analysts expect that American Express will post 13.12 earnings per share for the current fiscal year.

About American Express

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.