Bahl & Gaynor Inc. Decreases Position in American Express (NYSE:AXP)

Bahl & Gaynor Inc. trimmed its holdings in shares of American Express (NYSE:AXP) by 21.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,590 shares of the payment services company’s stock after selling 426 shares during the quarter. Bahl & Gaynor Inc.’s holdings in American Express were worth $368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new stake in shares of American Express during the fourth quarter worth about $25,000. Sachetta LLC purchased a new stake in American Express during the 4th quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC acquired a new position in American Express during the 4th quarter valued at approximately $29,000. Game Plan Financial Advisors LLC raised its holdings in shares of American Express by 62.5% in the first 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 during the last quarter. Finally, Creekmur Asset Management LLC acquired a new stake in shares of American Express during the fourth quarter worth $32,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Up 0.4 %

American Express stock opened at $255.10 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market capitalization of $183.49 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21. The business has a 50 day simple moving average of $245.86 and a 200-day simple moving average of $235.06. American Express has a 12 month low of $140.91 and a 12 month high of $261.75.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.89 EPS. On average, analysts anticipate that American Express will post 13.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AXP shares. Wells Fargo & Company upped their target price on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods increased their price objective on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. JPMorgan Chase & Co. lifted 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. Barclays raised their price target 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. Finally, BTIG Research started coverage on shares of American Express in a research note 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 given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.