Wellington Shields Capital Management LLC Sells 423 Shares of American Express (NYSE:AXP)

Wellington Shields Capital Management LLC reduced its position in shares of American Express (NYSE:AXP) by 1.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,327 shares of the payment services company’s stock after selling 423 shares during the quarter. American Express makes up about 1.3% of Wellington Shields Capital Management LLC’s holdings, making the stock its 17th biggest holding. Wellington Shields Capital Management LLC’s holdings in American Express were worth $7,254,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AXP. Game Plan Financial Advisors LLC raised its holdings in shares of American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after acquiring an additional 50 shares in the last quarter. Scarborough Advisors LLC bought a new position in American Express in the 4th quarter worth $25,000. Sachetta LLC purchased a new stake in shares of American Express in the 4th quarter worth about $29,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of American Express during the 4th quarter valued at about $29,000. Finally, DHJJ Financial Advisors Ltd. increased its position in shares of American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after buying an additional 49 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

AXP has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Citigroup initiated coverage on American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 price target on the stock. Jefferies Financial Group increased their price objective on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. Monness Crespi & Hardt boosted their target price on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, BTIG Research started coverage on shares of American Express in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $230.70.

American Express Stock Performance

Shares of NYSE AXP traded up $1.23 during trading on Friday, reaching $253.07. 110,035 shares of the company traded hands, compared to its average volume of 2,946,519. 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 simple moving average of $244.32 and a 200-day simple moving average of $233.78. American Express has a 52-week low of $140.91 and a 52-week high of $261.75. The stock has a market capitalization of $182.03 billion, a PE ratio of 20.74, a P/E/G ratio of 1.45 and a beta of 1.21.

American Express (NYSE:AXP) last posted its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.89 EPS. Equities research analysts anticipate 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.