Great Valley Advisor Group Inc. Cuts Holdings in American Express (NYSE:AXP)

Great Valley Advisor Group Inc. lessened its position in shares of American Express (NYSE:AXP) by 5.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,809 shares of the payment services company’s stock after selling 155 shares during the period. Great Valley Advisor Group Inc.’s holdings in American Express were worth $650,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AXP. Scarborough Advisors LLC acquired a new position in shares of American Express during the 4th quarter valued at $25,000. Tennessee Valley Asset Management Partners acquired a new position in shares of American Express during the fourth quarter worth about $28,000. Sachetta LLC purchased a new stake in shares of American Express in the fourth quarter worth about $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of American Express in the fourth quarter valued at about $29,000. Finally, WFA Asset Management Corp acquired a new stake in shares of American Express in the fourth quarter valued at about $30,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AXP shares. Royal Bank of Canada upped their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Robert W. Baird upped their target price on shares of American Express from $190.00 to $205.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company lifted their price target on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Monness Crespi & Hardt upped their price objective on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Keefe, Bruyette & Woods raised their target price on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $230.70.

American Express Stock Performance

AXP traded up $4.03 on Wednesday, hitting $243.02. 981,855 shares of the company’s stock were exchanged, compared to its average volume of 3,002,909. 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 stock has a fifty day moving average of $236.30 and a two-hundred day moving average of $228.75. American Express has a twelve month low of $140.91 and a twelve month high of $256.24. The firm has a market cap of $174.81 billion, a PE ratio of 19.83, a P/E/G ratio of 1.38 and a beta of 1.21.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.89 EPS. On average, research analysts anticipate that American Express will post 13.24 earnings per share for the current fiscal year.

American Express Company 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.