Narwhal Capital Management Sells 4,229 Shares of American Express (NYSE:AXP)

Narwhal Capital Management trimmed its stake in shares of American Express (NYSE:AXP) by 7.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,994 shares of the payment services company’s stock after selling 4,229 shares during the quarter. American Express accounts for 1.2% of Narwhal Capital Management’s portfolio, making the stock its 21st largest holding. Narwhal Capital Management’s holdings in American Express were worth $12,734,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Candriam S.C.A. grew its position in American Express by 4.5% in the second quarter. Candriam S.C.A. now owns 358,913 shares of the payment services company’s stock valued at $83,102,000 after acquiring an additional 15,296 shares during the period. Private Advisor Group LLC boosted its stake in shares of American Express by 1.7% in the 2nd quarter. Private Advisor Group LLC now owns 55,316 shares of the payment services company’s stock valued at $12,808,000 after purchasing an additional 943 shares in the last quarter. Addison Advisors LLC grew its holdings in shares of American Express by 41.3% in the 2nd quarter. Addison Advisors LLC now owns 701 shares of the payment services company’s stock worth $162,000 after purchasing an additional 205 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in American Express by 1.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 8,667 shares of the payment services company’s stock valued at $2,007,000 after purchasing an additional 102 shares during the last quarter. Finally, Slocum Gordon & Co LLP boosted its position in American Express by 51.8% in the second quarter. Slocum Gordon & Co LLP now owns 718 shares of the payment services company’s stock valued at $166,000 after buying an additional 245 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Down 3.1 %

NYSE:AXP opened at $244.12 on Friday. 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 12-month low of $140.91 and a 12-month high of $261.75. The stock’s fifty day simple moving average is $244.57 and its 200-day simple moving average is $234.00. The firm has a market capitalization of $175.60 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.45 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. The firm had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.89 earnings per share. Equities research analysts expect that American Express will post 13.12 earnings per share for the current year.

Analysts Set New Price Targets

AXP has been the subject of a number of research analyst reports. Barclays lifted their target price on shares of 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. lifted their price objective on American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Jefferies Financial Group increased their target price on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Finally, Compass Point started coverage on shares of American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.