American Express (NYSE:AXP) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. reduced its stake in American Express (NYSE:AXP) by 8.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 28,308 shares of the payment services company’s stock after selling 2,658 shares during the period. Wedbush Securities Inc.’s holdings in American Express were worth $6,555,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Game Plan Financial Advisors LLC increased its stake in shares of American Express by 62.5% during the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after acquiring an additional 50 shares during the period. Scarborough Advisors LLC acquired a new stake in shares of American Express in the 4th quarter valued at approximately $25,000. Sachetta LLC acquired a new position in American Express during the fourth quarter worth $29,000. Vermillion & White Wealth Management Group LLC purchased a new position in American Express in the fourth quarter worth $29,000. Finally, DHJJ Financial Advisors Ltd. lifted its holdings in American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after acquiring an additional 49 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Price Performance

AXP opened at $246.16 on Monday. American Express has a 12-month low of $140.91 and a 12-month high of $261.75. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $175.00 billion, a P/E ratio of 20.10, a PEG ratio of 1.37 and a beta of 1.21. The stock has a fifty day moving average of $244.57 and a 200-day moving average of $234.31.

American Express (NYSE:AXP) last announced 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 analyst estimates of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company posted $2.89 EPS. Equities analysts forecast that American Express will post 13.12 EPS for the current fiscal year.

Analyst Ratings Changes

AXP has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Bank of America lowered American Express from a “buy” rating to a “neutral” rating and set a $263.00 price target on the stock. in a research note on Wednesday, August 21st. Barclays raised their price objective on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. Royal Bank of Canada boosted their target price on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, BTIG Research began coverage on American Express in a research note on Friday, June 7th. They set a “neutral” rating for the company. Three equities research 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. Based on data from MarketBeat.com, American Express presently has an average rating of “Hold” and a consensus price target of $230.70.

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.