Hsbc Holdings PLC Cuts Position in American Express (NYSE:AXP)

Hsbc Holdings PLC lowered its position in shares of American Express (NYSE:AXP) by 18.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,956,948 shares of the payment services company’s stock after selling 453,051 shares during the quarter. Hsbc Holdings PLC owned about 0.27% of American Express worth $453,220,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Game Plan Financial Advisors LLC lifted its holdings 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 valued at $30,000 after acquiring an additional 50 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of American Express during the fourth quarter worth $25,000. Sachetta LLC acquired a new stake in American Express during the 4th quarter valued at $29,000. Vermillion & White Wealth Management Group LLC acquired a new position in American Express in the 4th quarter worth $29,000. Finally, DHJJ Financial Advisors Ltd. boosted its position in American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after buying an additional 49 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of analyst reports. 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. Compass Point initiated coverage on shares of American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price for the company. Monness Crespi & Hardt upped their target price on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Jefferies Financial Group lifted their price target on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada increased their target price on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $230.78.

American Express Stock Up 1.7 %

American Express stock opened at $265.49 on Wednesday. American Express has a 52 week low of $140.91 and a 52 week high of $267.22. The stock has a market cap of $190.97 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 1.42 and a beta of 1.21. The company’s 50-day moving average price is $247.42 and its two-hundred day moving average price is $236.22. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74.

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. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the business earned $2.89 earnings per share. On average, analysts expect that American Express will post 13.12 EPS 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.