Convergence Investment Partners LLC cut its position in shares of American Express Co. (NYSE:AXP) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 82,963 shares of the payment services company’s stock after selling 2,858 shares during the period. American Express accounts for about 0.7% of Convergence Investment Partners LLC’s investment portfolio, making the stock its 27th largest position. Convergence Investment Partners LLC’s holdings in American Express were worth $5,041,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Burke & Herbert Bank & Trust Co. boosted its position in American Express by 12.6% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 6,659 shares of the payment services company’s stock valued at $409,000 after buying an additional 744 shares during the last quarter. TNB Financial boosted its position in American Express by 3.1% in the first quarter. TNB Financial now owns 56,416 shares of the payment services company’s stock valued at $3,464,000 after buying an additional 1,719 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in American Express by 62.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 17,749 shares of the payment services company’s stock valued at $1,090,000 after buying an additional 6,833 shares during the last quarter. North American Management Corp boosted its position in American Express by 0.3% in the first quarter. North American Management Corp now owns 201,253 shares of the payment services company’s stock valued at $12,357,000 after buying an additional 672 shares during the last quarter. Finally, Heritage Investors Management Corp boosted its position in American Express by 5.2% in the first quarter. Heritage Investors Management Corp now owns 287,995 shares of the payment services company’s stock valued at $17,683,000 after buying an additional 14,122 shares during the last quarter. Institutional investors own 82.18% of the company’s stock.

American Express Co. (NYSE:AXP) opened at 64.06 on Tuesday. The stock has a market capitalization of $59.18 billion, a price-to-earnings ratio of 11.33 and a beta of 1.24. American Express Co. has a 52-week low of $50.27 and a 52-week high of $77.85. The firm has a 50-day moving average price of $65.05 and a 200 day moving average price of $63.26.

American Express (NYSE:AXP) last posted its quarterly earnings data on Wednesday, July 20th. The payment services company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.15. American Express had a net margin of 16.73% and a return on equity of 28.00%. The firm had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.33 billion. During the same period in the previous year, the company posted $1.42 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts predict that American Express Co. will post $5.52 EPS for the current year.

Several research analysts recently commented on the company. JPMorgan Chase & Co. reissued a “hold” rating and set a $68.00 target price on shares of American Express in a research note on Thursday, June 9th. Vetr raised American Express from a “sell” rating to a “hold” rating and set a $64.60 target price for the company in a research note on Wednesday, June 8th. Atlantic Securities started coverage on American Express in a research note on Friday, September 9th. They set an “underweight” rating and a $62.00 target price for the company. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $67.00 price objective (up from $62.00) on shares of American Express in a research report on Tuesday, June 7th. Finally, Piper Jaffray Cos. reaffirmed a “hold” rating and set a $71.00 price objective on shares of American Express in a research report on Wednesday, September 7th. Seven investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $69.13.

American Express Company Profile

American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

5 Day Chart for NYSE:AXP

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