Dorsey & Whitney Trust CO LLC Has $8.10 Million Stake in American Express (NYSE:AXP)

Dorsey & Whitney Trust CO LLC decreased its position in American Express (NYSE:AXP) by 6.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,991 shares of the payment services company’s stock after selling 2,576 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in American Express were worth $8,102,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in AXP. Gryphon Financial Partners LLC acquired a new position in American Express during the fourth quarter valued at approximately $224,000. Envestnet Portfolio Solutions Inc. grew its stake in American Express by 11.0% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,489 shares of the payment services company’s stock valued at $2,902,000 after buying an additional 1,538 shares during the last quarter. Ieq Capital LLC raised its holdings in American Express by 11.2% in the 4th quarter. Ieq Capital LLC now owns 23,030 shares of the payment services company’s stock worth $4,314,000 after acquiring an additional 2,319 shares during the period. Checchi Capital Advisers LLC raised its holdings in American Express by 4.8% in the 4th quarter. Checchi Capital Advisers LLC now owns 6,577 shares of the payment services company’s stock worth $1,232,000 after acquiring an additional 301 shares during the period. Finally, Avantax Advisory Services Inc. lifted its position in American Express by 26.8% during the 4th quarter. Avantax Advisory Services Inc. now owns 17,666 shares of the payment services company’s stock worth $3,310,000 after acquiring an additional 3,731 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the subject of several research analyst reports. BTIG Research initiated coverage on American Express in a research report on Friday, June 7th. They set a “neutral” rating for the company. William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Citigroup began coverage on shares of American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada increased their price target on shares of American Express from $265.00 to $267.00 and gave the company 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 assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $230.70.

American Express Stock Up 2.8 %

Shares of NYSE:AXP opened at $250.92 on Tuesday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a market cap of $180.49 billion, a P/E ratio of 20.67, a P/E/G ratio of 1.37 and a beta of 1.21. American Express has a 12 month low of $140.91 and a 12 month high of $261.75. The company’s 50-day moving average price is $244.91 and its two-hundred day moving average price is $234.57.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. During the same period in the prior year, the firm earned $2.89 earnings per share. American Express’s revenue was up 9.2% compared to the same quarter last year. As a group, research analysts forecast that American Express will post 13.12 EPS for the current fiscal year.

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.