American Express (NYSE:AXP) Stake Reduced by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. reduced its stake in shares of American Express (NYSE:AXP) by 9.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 527,377 shares of the payment services company’s stock after selling 55,002 shares during the period. American Express makes up about 1.1% of Clark Capital Management Group Inc.’s holdings, making the stock its 14th largest holding. Clark Capital Management Group Inc.’s holdings in American Express were worth $98,619,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Blue Bell Private Wealth Management LLC grew its stake in shares of American Express by 873.3% in the first quarter. Blue Bell Private Wealth Management LLC now owns 146 shares of the payment services company’s stock worth $27,000 after purchasing an additional 131 shares in the last quarter. SBK Financial Inc. bought a new position in shares of American Express in the fourth quarter worth $25,000. Perkins Coie Trust Co bought a new position in shares of American Express in the first quarter worth $28,000. Tyler Stone Wealth Management bought a new position in shares of American Express in the fourth quarter worth $25,000. Finally, Rise Advisors LLC grew its stake in shares of American Express by 823.5% in the first quarter. Rise Advisors LLC now owns 157 shares of the payment services company’s stock worth $29,000 after purchasing an additional 140 shares in the last quarter. 84.10% of the stock is currently owned by institutional investors.

American Express Stock Performance

AXP opened at $158.44 on Friday. The firm has a market capitalization of $118.79 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.18 and a beta of 1.14. The stock’s 50 day moving average price is $152.50 and its two-hundred day moving average price is $163.92. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.74. American Express has a 12-month low of $134.12 and a 12-month high of $199.55.

American Express (NYSE:AXPGet Rating) last released its earnings results on Friday, July 22nd. The payment services company reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.16. The firm had revenue of $13.40 billion for the quarter, compared to analyst estimates of $12.54 billion. American Express had a return on equity of 32.81% and a net margin of 15.69%. The company’s revenue was up 30.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.80 EPS. On average, equities analysts forecast that American Express will post 9.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

AXP has been the subject of several research reports. Oppenheimer set a $184.00 target price on American Express in a research note on Tuesday, July 19th. Wells Fargo & Company reduced their target price on American Express from $215.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 13th. Barclays upped their target price on American Express from $157.00 to $160.00 and gave the company an “equal weight” rating in a report on Monday, July 25th. Edward Jones raised American Express from a “hold” rating to a “buy” rating in a research note on Monday, June 6th. Finally, Robert W. Baird raised American Express from a “neutral” rating to an “outperform” rating and set a $175.00 target price on the stock in a research report on Friday, June 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $181.53.

American Express Company Profile

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American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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