Mutual of America Capital Management LLC Reduces Stock Position in American Express (NYSE:AXP)

Mutual of America Capital Management LLC decreased its position in American Express (NYSE:AXP) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,662 shares of the payment services company’s stock after selling 3,314 shares during the quarter. Mutual of America Capital Management LLC’s holdings in American Express were worth $16,593,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Sawgrass Asset Management LLC grew its holdings in shares of American Express by 0.4% during the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after buying an additional 41 shares in the last quarter. Ignite Planners LLC grew its stake in American Express by 0.9% in the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after purchasing an additional 43 shares in the last quarter. Willner & Heller LLC grew its stake in American Express by 4.1% in the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after purchasing an additional 43 shares in the last quarter. Beacon Capital Management LLC grew its stake in American Express by 18.9% in the second quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock valued at $63,000 after purchasing an additional 43 shares in the last quarter. Finally, Capital Wealth Planning LLC grew its stake in American Express by 4.0% in the second quarter. Capital Wealth Planning LLC now owns 1,112 shares of the payment services company’s stock valued at $257,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Monness Crespi & Hardt boosted their target price on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Wells Fargo & Company boosted their target price on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods upped their price target on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Finally, Jefferies Financial Group upped 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. Three equities research 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 data from MarketBeat, American Express currently has an average rating of “Hold” and a consensus target price of $230.78.

American Express Trading Up 1.7 %

Shares of AXP opened at $265.49 on Wednesday. American Express has a 1 year low of $140.91 and a 1 year high of $267.22. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The stock has a 50 day simple moving average of $247.42 and a 200-day simple moving average of $236.22. The stock has a market cap of $190.97 billion, a PE ratio of 21.87, a PEG ratio of 1.42 and a beta of 1.21.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping 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 prior year, the firm posted $2.89 EPS. American Express’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, sell-side analysts predict 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.