American Express (NYSE:AXP) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. decreased its holdings in shares of American Express (NYSE:AXP) by 4.2% in the 2nd quarter, Holdings Channel.com reports. The fund owned 140,079 shares of the payment services company’s stock after selling 6,191 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in American Express were worth $32,435,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. Scarborough Advisors LLC acquired a new stake in American Express during the fourth quarter worth $25,000. Sachetta LLC acquired a new stake in shares of American Express in the fourth quarter valued at $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of American Express in the fourth quarter valued at $29,000. Game Plan Financial Advisors LLC grew its stake in shares of American Express by 62.5% in the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after buying an additional 50 shares in the last quarter. Finally, Creekmur Asset Management LLC acquired a new stake in shares of American Express in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. JPMorgan Chase & Co. lifted their price objective on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Jefferies Financial Group lifted their target price on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Wells Fargo & Company lifted their target price on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Finally, Barclays lifted their target price on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a report on Tuesday, July 9th. Three investment 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $230.70.

American Express Stock Performance

Shares of NYSE AXP traded down $7.78 during trading hours on Friday, reaching $244.06. The stock had a trading volume of 3,652,963 shares, compared to its average volume of 2,967,115. The firm has a 50-day moving average of $244.57 and a 200-day moving average of $234.00. 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 has a market cap of $175.55 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.45 and a beta of 1.21. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $261.75.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.26 by $0.23. The firm 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 firm’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.89 EPS. Equities research analysts predict that American Express will post 13.12 earnings per share for the current 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.