Sivia Capital Partners LLC Trims Holdings in American Express (NYSE:AXP)

Sivia Capital Partners LLC lowered its position in shares of American Express (NYSE:AXP) by 9.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,440 shares of the payment services company’s stock after selling 151 shares during the quarter. Sivia Capital Partners LLC’s holdings in American Express were worth $333,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of American Express during the 4th quarter valued at $1,112,747,000. Alphinity Investment Management Pty Ltd purchased a new position in shares of American Express in the first quarter valued at about $433,709,000. TD Asset Management Inc boosted its stake in shares of American Express by 62.1% in the fourth quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after acquiring an additional 919,337 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after purchasing an additional 662,382 shares in the last quarter. Finally, Bank of Nova Scotia raised its stake in American Express by 969.9% during the 4th quarter. Bank of Nova Scotia now owns 602,726 shares of the payment services company’s stock valued at $112,910,000 after purchasing an additional 546,389 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AXP. JPMorgan Chase & Co. increased their price objective on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Barclays raised 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. Monness Crespi & Hardt lifted their price target on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods increased their price objective on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. Finally, Royal Bank of Canada lifted their target price on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $230.70.

American Express Trading Down 3.1 %

Shares of NYSE AXP opened at $244.12 on Friday. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $261.75. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $175.60 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.45 and a beta of 1.21. The business’s 50 day moving average price is $244.57 and its 200-day moving average price is $234.00.

American Express (NYSE:AXP) last released its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.89 earnings per share. On average, sell-side analysts expect that American Express will post 13.12 earnings per share for the current 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.