American Express (NYSE:AXP) Shares Sold by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators trimmed its position in shares of American Express (NYSE:AXP) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 622 shares of the payment services company’s stock after selling 55 shares during the quarter. Deseret Mutual Benefit Administrators’ holdings in American Express were worth $144,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AXP. Scarborough Advisors LLC purchased a new stake in shares of American Express during the 4th quarter worth $25,000. Sachetta LLC purchased a new stake in American Express during the fourth quarter worth about $29,000. Vermillion & White Wealth Management Group LLC acquired a new position in American Express during the fourth quarter worth about $29,000. Game Plan Financial Advisors LLC increased its holdings in 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 during the 4th quarter valued at approximately $32,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Down 0.3 %

AXP stock traded down $0.78 during trading on Thursday, reaching $250.96. The stock had a trading volume of 36,035 shares, compared to its average volume of 2,947,463. American Express has a 1-year low of $140.91 and a 1-year high of $261.75. 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 company has a market capitalization of $180.52 billion, a P/E ratio of 20.74, a PEG ratio of 1.45 and a beta of 1.21. The firm has a fifty day moving average price of $243.86 and a 200 day moving average price of $233.65.

American Express (NYSE:AXP) last issued its quarterly earnings data 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. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same quarter in the previous year, the business posted $2.89 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. On average, equities analysts anticipate that American Express will post 13.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AXP. Compass Point assumed coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective for the company. BTIG Research assumed coverage on American Express in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Barclays boosted their price objective on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. raised their target price on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Finally, Royal Bank of Canada upped their price target on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $230.70.

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.