BBR Partners LLC Sells 68 Shares of American Express (NYSE:AXP)

BBR Partners LLC cut its position in American Express (NYSE:AXP) by 4.9% in the second quarter, HoldingsChannel.com reports. The firm owned 1,312 shares of the payment services company’s stock after selling 68 shares during the quarter. BBR Partners LLC’s holdings in American Express were worth $304,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AXP. Game Plan Financial Advisors LLC increased its stake in American Express by 62.5% in the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after buying an additional 50 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in shares of American Express during the fourth quarter worth about $25,000. Sachetta LLC bought a new stake in American Express during the 4th quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC purchased a new position in American Express in the 4th quarter worth approximately $29,000. Finally, DHJJ Financial Advisors Ltd. boosted its stake in American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares during the period. 84.33% of the stock is currently owned by institutional investors.

American Express Price Performance

Shares of AXP stock opened at $251.73 on Friday. The stock has a 50 day moving average price of $244.32 and a 200 day moving average price of $233.78. American Express has a 52-week low of $140.91 and a 52-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 firm has a market capitalization of $181.07 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.45 and a beta of 1.21.

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 the consensus estimate of $3.26 by $0.23. The business had revenue of $16.33 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the company earned $2.89 earnings per share. As a group, sell-side analysts predict that American Express will post 13.12 earnings per share for the current year.

Analyst Ratings Changes

AXP has been the topic of several recent analyst reports. Citigroup assumed coverage on shares of American Express in a research report on Monday, June 10th. They set a “neutral” rating and a $250.00 price objective on the stock. William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Compass Point began coverage on shares of American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target on the stock. Barclays raised their price objective on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 9th. Finally, BTIG Research started coverage on American Express in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $230.70.

American Express Company 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.