Legacy Capital Wealth Partners LLC Has $270,000 Position in American Express (NYSE:AXP)

Legacy Capital Wealth Partners LLC lowered its position in American Express (NYSE:AXP) by 7.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,167 shares of the payment services company’s stock after selling 95 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in American Express were worth $270,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Sawgrass Asset Management LLC lifted its stake in American Express by 0.4% in the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after acquiring an additional 41 shares during the last quarter. Spire Wealth Management lifted its stake in shares of American Express by 1.0% during the 1st quarter. Spire Wealth Management now owns 4,315 shares of the payment services company’s stock worth $983,000 after buying an additional 42 shares during the last quarter. Ignite Planners LLC lifted its stake in shares of American Express by 0.9% during the 2nd quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock worth $1,103,000 after buying an additional 43 shares during the last quarter. Willner & Heller LLC lifted its stake in shares of American Express by 4.1% during the 2nd quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock worth $252,000 after buying an additional 43 shares during the last quarter. Finally, Beacon Capital Management LLC lifted its stake in shares of American Express by 18.9% during the 2nd quarter. Beacon Capital Management LLC now owns 271 shares of the payment services company’s stock worth $63,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

Shares of NYSE AXP opened at $251.74 on Thursday. American Express has a 52-week low of $140.91 and a 52-week high of $261.75. The company has a market cap of $178.96 billion, a P/E ratio of 20.74, a P/E/G ratio of 1.45 and a beta of 1.21. The firm’s fifty day moving average is $243.86 and its two-hundred day moving average is $233.65. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. During the same quarter last year, the business posted $2.89 EPS. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, analysts anticipate that American Express will post 13.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on AXP. Royal Bank of Canada raised their target price on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods boosted their target price on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Barclays upped their price objective on shares of American Express from $221.00 to $223.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. 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 objective on the stock. Finally, Wells Fargo & Company raised their price target on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $230.70.

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.