Chapman Investment Management LLC Sells 794 Shares of American Express (NYSE:AXP)

Chapman Investment Management LLC lessened its stake in shares of American Express (NYSE:AXP) by 3.6% during the second quarter, Holdings Channel.com reports. The fund owned 21,141 shares of the payment services company’s stock after selling 794 shares during the period. American Express comprises 3.7% of Chapman Investment Management LLC’s investment portfolio, making the stock its 11th largest position. Chapman Investment Management LLC’s holdings in American Express were worth $4,895,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AXP. Price T Rowe Associates Inc. MD boosted its position in shares of American Express by 8.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after acquiring an additional 662,382 shares in the last quarter. Norges Bank acquired a new stake in shares of American Express in the 4th quarter valued at $1,112,747,000. Artisan Partners Limited Partnership increased its stake in shares of American Express by 11.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,855,211 shares of the payment services company’s stock valued at $909,575,000 after purchasing an additional 496,153 shares during the last quarter. TD Asset Management Inc raised its holdings in shares of American Express by 8.2% during the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock worth $590,940,000 after buying an additional 195,876 shares in the last quarter. Finally, Boston Partners lifted its position in shares of American Express by 22.2% during the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after buying an additional 387,166 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Trading Down 3.1 %

NYSE AXP opened at $244.06 on Monday. 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 52 week low of $140.91 and a 52 week high of $261.75. The business has a 50 day moving average price of $244.57 and a 200-day moving average price of $234.31. The company has a market cap of $173.50 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 1.37 and a beta of 1.21.

American Express (NYSE:AXP) last announced its quarterly earnings results 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 net margin of 15.53% and a return on equity of 32.94%. The business had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. During the same quarter in the previous year, the business posted $2.89 EPS. American Express’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, equities analysts expect that American Express will post 13.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on AXP. Bank of America downgraded American Express from a “buy” rating to a “neutral” rating and set a $263.00 target price for the company. in a research note on Wednesday, August 21st. Keefe, Bruyette & Woods upped their target price on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Barclays lifted their price target 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. JPMorgan Chase & Co. raised their price objective 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 raised 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. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $230.70.

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.