American Express (NYSE:AXP) Shares Sold by ICA Group Wealth Management LLC

ICA Group Wealth Management LLC reduced its holdings in American Express (NYSE:AXP) by 64.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 250 shares of the payment services company’s stock after selling 458 shares during the quarter. ICA Group Wealth Management LLC’s holdings in American Express were worth $58,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Cetera Advisors LLC increased its stake in American Express by 119.6% in the first quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock valued at $8,993,000 after purchasing an additional 21,508 shares during the last quarter. Empowered Funds LLC increased its stake in American Express by 102.9% in the first quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock valued at $2,842,000 after purchasing an additional 6,329 shares during the last quarter. Sciencast Management LP acquired a new position in American Express in the first quarter valued at $1,881,000. New Mexico Educational Retirement Board increased 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 purchasing an additional 4,800 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in American Express by 49.0% in the first quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock valued at $63,550,000 after purchasing an additional 91,760 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. 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. Jefferies Financial Group upped their target price on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Royal Bank of Canada increased their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Compass Point assumed coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $230.70.

American Express Stock Performance

Shares of NYSE AXP opened at $259.00 on Monday. The stock has a fifty day moving average price of $246.33 and a two-hundred day moving average price of $235.60. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $186.30 billion, a P/E ratio of 21.33, a PEG ratio of 1.42 and a beta of 1.21. American Express has a 1 year low of $140.91 and a 1 year high of $261.75.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The firm had revenue of $16.33 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company posted $2.89 EPS. Research analysts forecast that American Express will post 13.12 EPS for the current fiscal year.

About American Express

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.