RFG Advisory LLC Sells 292 Shares of American Express (NYSE:AXP)

RFG Advisory LLC decreased its position in American Express (NYSE:AXP) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,823 shares of the payment services company’s stock after selling 292 shares during the period. RFG Advisory LLC’s holdings in American Express were worth $2,043,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AXP. Spire Wealth Management raised its stake in shares of American Express by 1.0% in the 1st quarter. Spire Wealth Management now owns 4,315 shares of the payment services company’s stock valued at $983,000 after acquiring an additional 42 shares in the last quarter. Ignite Planners LLC raised its stake in shares of American Express by 0.9% in the 2nd quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after acquiring an additional 43 shares in the last quarter. Parisi Gray Wealth Management raised its stake in shares of American Express by 0.7% in the 2nd quarter. Parisi Gray Wealth Management now owns 6,351 shares of the payment services company’s stock valued at $1,471,000 after acquiring an additional 46 shares in the last quarter. CIC Wealth LLC raised its stake in shares of American Express by 3.2% in the 1st quarter. CIC Wealth LLC now owns 1,518 shares of the payment services company’s stock valued at $346,000 after acquiring an additional 47 shares in the last quarter. Finally, HTLF Bank raised its stake in shares of American Express by 0.8% in the 1st quarter. HTLF Bank now owns 6,202 shares of the payment services company’s stock valued at $1,412,000 after acquiring an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

American Express stock traded down $1.37 during mid-day trading on Monday, hitting $236.48. The company’s stock had a trading volume of 1,255,802 shares, compared to its average volume of 3,019,919. 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 stock has a market capitalization of $170.10 billion, a P/E ratio of 19.59, a P/E/G ratio of 1.38 and a beta of 1.21. American Express has a twelve month low of $140.91 and a twelve month high of $256.24. The stock’s fifty day moving average price is $236.26 and its two-hundred day moving average price is $228.15.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share (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 during the quarter, compared to analyst estimates of $16.60 billion. During the same quarter in the previous year, the business earned $2.89 EPS. American Express’s quarterly revenue was up 9.2% compared to the same quarter last year. Research analysts forecast that American Express will post 13.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AXP shares. Compass Point began coverage on American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective for the company. JPMorgan Chase & Co. upped their target price on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Keefe, Bruyette & Woods increased their target price on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Jefferies Financial Group increased their target price on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Finally, Morgan Stanley increased their price target on American Express from $222.00 to $226.00 and gave the stock an “equal weight” rating in a research report on Monday, April 22nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $230.70.

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.