Investment House LLC cut its stake in American Express Co. (NYSE:AXP) by 4.5% during the second quarter, Holdings Channel reports. The firm owned 8,475 shares of the payment services company’s stock after selling 400 shares during the period. Investment House LLC’s holdings in American Express were worth $515,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Associated Banc Corp raised its stake in American Express by 0.5% in the first quarter. Associated Banc Corp now owns 7,647 shares of the payment services company’s stock worth $470,000 after buying an additional 41 shares in the last quarter. Winslow Evans & Crocker Inc. raised its stake in American Express by 1.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 5,232 shares of the payment services company’s stock worth $318,000 after buying an additional 56 shares in the last quarter. Beacon Financial Group raised its stake in American Express by 0.6% in the second quarter. Beacon Financial Group now owns 10,810 shares of the payment services company’s stock worth $645,000 after buying an additional 61 shares in the last quarter. Rothschild Investment Corp IL raised its stake in American Express by 1.3% in the second quarter. Rothschild Investment Corp IL now owns 5,103 shares of the payment services company’s stock worth $310,000 after buying an additional 66 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in American Express by 1.1% in the second quarter. Checchi Capital Advisers LLC now owns 6,197 shares of the payment services company’s stock worth $377,000 after buying an additional 68 shares in the last quarter. 82.18% of the stock is currently owned by institutional investors.

American Express Co. (NYSE:AXP) traded up 0.54% on Thursday, reaching $64.63. 3,213,744 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $65.08 and a 200-day moving average of $63.31. The company has a market cap of $59.70 billion, a P/E ratio of 11.43 and a beta of 1.24. American Express Co. has a 12-month low of $50.27 and a 12-month high of $77.85.

American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.15. American Express had a net margin of 16.73% and a return on equity of 28.00%. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.33 billion. During the same period in the previous year, the business posted $1.42 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. Equities analysts expect that American Express Co. will post $5.52 EPS for the current fiscal year.

A number of analysts have weighed in on AXP shares. Vetr lowered American Express from a “strong-buy” rating to a “buy” rating and set a $67.47 target price for the company. in a report on Monday, July 11th. Citigroup Inc. restated a “buy” rating on shares of American Express in a report on Wednesday, August 10th. Deutsche Bank AG restated a “hold” rating on shares of American Express in a report on Wednesday, June 15th. JPMorgan Chase & Co. restated a “hold” rating on shares of American Express in a report on Thursday, June 30th. Finally, Wells Fargo & Co. reiterated a “hold” rating and set a $65.00 price objective on shares of American Express in a report on Sunday, July 10th. Seven investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $69.13.

American Express Company Profile

American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

5 Day Chart for NYSE:AXP

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