Forum Financial Management LP Sells 235 Shares of American Express (NYSE:AXP)

Forum Financial Management LP cut its stake in shares of American Express (NYSE:AXP) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,115 shares of the payment services company’s stock after selling 235 shares during the quarter. Forum Financial Management LP’s holdings in American Express were worth $956,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Guardian Capital Advisors LP increased its holdings in shares of American Express by 3.1% during the first quarter. Guardian Capital Advisors LP now owns 33,264 shares of the payment services company’s stock valued at $5,839,000 after acquiring an additional 1,008 shares in the last quarter. Guardian Capital LP increased its holdings in shares of American Express by 43.5% during the first quarter. Guardian Capital LP now owns 12,368 shares of the payment services company’s stock valued at $2,313,000 after acquiring an additional 3,750 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of American Express by 2.7% during the first quarter. Geneos Wealth Management Inc. now owns 7,623 shares of the payment services company’s stock valued at $1,425,000 after acquiring an additional 203 shares in the last quarter. Harvest Volatility Management LLC increased its holdings in shares of American Express by 85.5% during the first quarter. Harvest Volatility Management LLC now owns 5,885 shares of the payment services company’s stock valued at $1,100,000 after acquiring an additional 2,712 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its holdings in shares of American Express by 65,548.6% during the first quarter. 1832 Asset Management L.P. now owns 208,106 shares of the payment services company’s stock valued at $38,381,000 after acquiring an additional 207,789 shares in the last quarter. 84.10% of the stock is currently owned by institutional investors.

American Express Stock Performance

Shares of NYSE AXP opened at $162.45 on Tuesday. The firm has a fifty day moving average price of $152.50 and a 200-day moving average price of $163.57. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.63 and a quick ratio of 1.63. The stock has a market cap of $121.80 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. American Express has a 1 year low of $134.12 and a 1 year high of $199.55.

American Express (NYSE:AXPGet Rating) last announced its quarterly earnings data on Friday, July 22nd. The payment services company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.16. The firm had revenue of $13.40 billion during the quarter, compared to analysts’ expectations of $12.54 billion. American Express had a net margin of 15.69% and a return on equity of 32.81%. The company’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.80 earnings per share. Equities analysts anticipate that American Express will post 9.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AXP. Citigroup raised their price target on American Express from $148.00 to $159.00 in a report on Tuesday, July 26th. Morgan Stanley boosted their price objective on shares of American Express from $143.00 to $155.00 and gave the company an “equal weight” rating in a report on Monday, July 25th. Edward Jones raised shares of American Express from a “hold” rating to a “buy” rating in a report on Monday, June 6th. Barclays boosted their price objective on shares of American Express from $157.00 to $160.00 and gave the company an “equal weight” rating in a report on Monday, July 25th. Finally, Wells Fargo & Company decreased their price objective on shares of American Express from $215.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $181.53.

American Express 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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