Bremer Bank National Association Decreases Position in American Express (NYSE:AXP)

Bremer Bank National Association trimmed its holdings in American Express (NYSE:AXP) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,221 shares of the payment services company’s stock after selling 1,011 shares during the quarter. American Express comprises approximately 1.0% of Bremer Bank National Association’s portfolio, making the stock its 29th largest holding. Bremer Bank National Association’s holdings in American Express were worth $5,377,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Game Plan Financial Advisors LLC increased its holdings 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 valued at $30,000 after purchasing an additional 50 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in American Express in the 4th quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners acquired a new stake in American Express in the 4th quarter valued at approximately $28,000. Sachetta LLC acquired a new stake in American Express in the 4th quarter valued at approximately $29,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in American Express in the 4th quarter valued at approximately $29,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of NYSE:AXP traded up $4.63 on Wednesday, reaching $243.62. The company’s stock had a trading volume of 2,131,956 shares, compared to its average volume of 3,010,281. The stock’s 50-day moving average is $236.30 and its two-hundred day moving average is $228.75. American Express has a 52-week low of $140.91 and a 52-week high of $256.24. 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 $175.24 billion, a P/E ratio of 19.83, a PEG ratio of 1.38 and a beta of 1.21.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS 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 business had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. During the same period in the prior year, the company earned $2.89 earnings per share. The business’s revenue was up 9.2% compared to the same quarter last year. As a group, sell-side analysts forecast that American Express will post 13.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AXP. BMO Capital Markets lifted their target price on shares of American Express from $167.00 to $175.00 and gave the company an “underperform” rating in a report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of American Express from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Keefe, Bruyette & Woods boosted their price target on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Bank of America boosted their price target on shares of American Express from $247.00 to $263.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, TD Cowen boosted their price target on shares of American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.