Boston Financial Mangement LLC Trims Stock Holdings in American Express (NYSE:AXP)

Boston Financial Mangement LLC trimmed its holdings in shares of American Express (NYSE:AXP) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,028 shares of the payment services company’s stock after selling 205 shares during the quarter. Boston Financial Mangement LLC’s holdings in American Express were worth $933,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new position in American Express in the 4th quarter worth about $25,000. Sachetta LLC bought a new position in American Express in the fourth quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of American Express in the 4th quarter worth $29,000. Game Plan Financial Advisors LLC grew its position in shares of American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after buying an additional 50 shares in the last quarter. Finally, Creekmur Asset Management LLC purchased a new position in shares of American Express during the fourth quarter valued at $32,000. 84.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on AXP shares. BTIG Research began coverage on shares of American Express in a report on Friday, June 7th. They set a “neutral” rating on the stock. Compass Point initiated coverage on American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target on the stock. Bank of America cut American Express from a “buy” rating to a “neutral” rating and set a $263.00 price objective for the company. in a research report on Wednesday, August 21st. Jefferies Financial Group upped their target price on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. Finally, Citigroup assumed coverage on American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target for the company. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, American Express has a consensus rating of “Hold” and an average price target of $230.70.

American Express Price Performance

Shares of American Express stock opened at $258.65 on Friday. The firm has a market cap of $186.05 billion, a PE ratio of 21.31, a P/E/G ratio of 1.38 and a beta of 1.21. The business has a 50-day moving average price of $241.85 and a 200 day moving average price of $232.27. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a twelve month low of $140.91 and a twelve month high of $261.75.

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, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. During the same period in the previous year, the business earned $2.89 earnings per share. The business’s revenue was up 9.2% compared to the same quarter last year. Sell-side analysts predict that American Express will post 13.24 earnings per share for the current fiscal year.

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.