Arcadia Investment Management Corp MI Sells 285 Shares of American Express (NYSE:AXP)

Arcadia Investment Management Corp MI trimmed its stake in American Express (NYSE:AXP) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,690 shares of the payment services company’s stock after selling 285 shares during the period. Arcadia Investment Management Corp MI’s holdings in American Express were worth $5,949,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in AXP. Norges Bank purchased a new position in American Express during the 4th quarter worth $1,112,747,000. Alphinity Investment Management Pty Ltd purchased a new position in American Express during the 1st quarter worth $433,709,000. TD Asset Management Inc grew its stake in American Express by 62.1% during the 4th quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after buying an additional 919,337 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in American Express by 8.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after buying an additional 662,382 shares during the last quarter. Finally, Bank of Nova Scotia grew its stake in American Express by 969.9% during the 4th quarter. Bank of Nova Scotia now owns 602,726 shares of the payment services company’s stock valued at $112,910,000 after purchasing an additional 546,389 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on AXP. Citigroup began coverage on shares of American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target on the stock. Monness Crespi & Hardt lifted their price objective on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Monday, June 3rd. Compass Point began coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective on the stock. Finally, Jefferies Financial Group raised their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, American Express presently has an average rating of “Hold” and a consensus price target of $230.70.

American Express Trading Down 1.7 %

NYSE AXP traded down $4.25 during trading on Friday, hitting $247.59. The stock had a trading volume of 387,904 shares, compared to its average volume of 2,947,494. The company has a market capitalization of $178.09 billion, a PE ratio of 20.74, a PEG ratio of 1.45 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a 50 day moving average price of $244.32 and a 200 day moving average price of $233.78. American Express has a twelve month low of $140.91 and a twelve month high of $261.75.

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

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.