American Express (NYSE:AXP) Shares Sold by Arcadia Investment Management Corp MI

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Ieq Capital LLC lifted its stake in American Express by 11.2% during the fourth quarter. Ieq Capital LLC now owns 23,030 shares of the payment services company’s stock worth $4,314,000 after purchasing an additional 2,319 shares during the last quarter. Cetera Advisors LLC lifted its stake in American Express by 119.6% during the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock worth $8,993,000 after purchasing an additional 21,508 shares during the last quarter. Empowered Funds LLC lifted its stake in American Express by 102.9% during the first quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock worth $2,842,000 after purchasing an additional 6,329 shares during the last quarter. Sciencast Management LP purchased a new stake in American Express during the first quarter worth approximately $1,881,000. Finally, New Mexico Educational Retirement Board lifted its stake in American Express by 15.5% in the first quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock valued at $8,143,000 after buying an additional 4,800 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Price Performance

American Express stock traded down $4.25 during midday trading on Friday, reaching $247.59. 387,904 shares of the company were exchanged, compared to its average volume of 2,947,494. The company has a market capitalization of $178.09 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 1.45 and a beta of 1.21. The firm’s 50-day simple moving average is $244.32 and its 200-day simple moving average is $233.78. American Express has a 1 year low of $140.91 and a 1 year high of $261.75. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

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, topping analysts’ consensus estimates of $3.26 by $0.23. The firm had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.89 EPS. On average, analysts anticipate that American Express will post 13.12 EPS for the current year.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of research reports. Royal Bank of Canada boosted their price objective on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. boosted 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. Monness Crespi & Hardt upped their price target on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. BTIG Research assumed coverage on American Express in a report on Friday, June 7th. They set a “neutral” rating for the company. Finally, Barclays increased their price target on American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.