Folger Nolan Fleming Douglas Capital Management Inc. Decreases Stock Position in American Express (NYSE:AXP)

Folger Nolan Fleming Douglas Capital Management Inc. cut its holdings in American Express (NYSE:AXP) by 0.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,288 shares of the payment services company’s stock after selling 130 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in American Express were worth $3,783,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Transform Wealth LLC increased its holdings in shares of American Express by 2.9% in the 2nd quarter. Transform Wealth LLC now owns 3,804 shares of the payment services company’s stock worth $529,000 after buying an additional 108 shares during the last quarter. HB Wealth Management LLC grew its holdings in American Express by 33.0% during the 2nd quarter. HB Wealth Management LLC now owns 38,548 shares of the payment services company’s stock valued at $5,343,000 after purchasing an additional 9,566 shares during the last quarter. Regent Investment Management LLC grew its holdings in American Express by 1.3% during the 2nd quarter. Regent Investment Management LLC now owns 17,046 shares of the payment services company’s stock valued at $2,363,000 after purchasing an additional 220 shares during the last quarter. Gilman Hill Asset Management LLC grew its holdings in American Express by 16.1% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 16,034 shares of the payment services company’s stock valued at $2,223,000 after purchasing an additional 2,220 shares during the last quarter. Finally, Marino Stram & Associates LLC grew its holdings in American Express by 13.1% during the 2nd quarter. Marino Stram & Associates LLC now owns 2,288 shares of the payment services company’s stock valued at $317,000 after purchasing an additional 265 shares during the last quarter. 84.10% of the stock is currently owned by institutional investors.

American Express Stock Performance

Shares of NYSE:AXP traded down $4.45 during midday trading on Friday, reaching $138.58. The company’s stock had a trading volume of 112,609 shares, compared to its average volume of 2,727,213. The firm has a market capitalization of $103.90 billion, a PE ratio of 14.67, a P/E/G ratio of 1.21 and a beta of 1.14. American Express has a twelve month low of $134.12 and a twelve month high of $199.55. The stock has a fifty day moving average of $155.04 and a 200 day moving average of $162.17. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXPGet Rating) last released its quarterly earnings data on Friday, July 22nd. The payment services company reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.16. The firm had revenue of $13.40 billion for the quarter, compared to analyst estimates of $12.54 billion. American Express had a net margin of 15.69% and a return on equity of 32.81%. The business’s quarterly revenue was up 30.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.80 earnings per share. On average, equities analysts expect that American Express will post 9.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of American Express from $220.00 to $201.00 in a research note on Monday, July 11th. Piper Sandler lowered their price target on shares of American Express from $202.00 to $163.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Robert W. Baird raised shares of American Express from a “neutral” rating to an “outperform” rating and set a $175.00 price target for the company in a research report on Friday, June 17th. Oppenheimer set a $184.00 price target on shares of American Express in a research report on Tuesday, July 19th. Finally, Barclays upped their price target on shares of American Express from $157.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, July 25th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, American Express currently 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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