Investment House LLC increased its stake in shares of American Express (NYSE:AXP) by 62.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,978 shares of the payment services company’s stock after buying an additional 5,353 shares during the period. Investment House LLC’s holdings in American Express were worth $1,725,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Camarda Financial Advisors LLC purchased a new position in shares of American Express in the first quarter worth about $26,000. Creative Financial Designs Inc. ADV purchased a new position in shares of American Express in the first quarter worth about $28,000. HMS Capital Management LLC purchased a new position in shares of American Express in the second quarter worth about $37,000. Edge Wealth Management LLC increased its stake in shares of American Express by 140.3% in the second quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock worth $46,000 after purchasing an additional 216 shares in the last quarter. Finally, Enterprise Financial Services Corp increased its stake in shares of American Express by 24.8% in the first quarter. Enterprise Financial Services Corp now owns 473 shares of the payment services company’s stock worth $51,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds own 83.96% of the company’s stock.
In other American Express news, insider Laureen Seeger sold 44,584 shares of American Express stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $119.25, for a total transaction of $5,316,642.00. Following the completion of the sale, the insider now directly owns 80,375 shares in the company, valued at $9,584,718.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Stephen J. Squeri sold 15,000 shares of American Express stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $114.69, for a total transaction of $1,720,350.00. Following the sale, the chairman now owns 214,815 shares of the company’s stock, valued at $24,637,132.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,584 shares of company stock valued at $10,679,740. 0.21% of the stock is currently owned by company insiders.
Several research firms have recently weighed in on AXP. Stephens set a $131.00 target price on shares of American Express and gave the stock a “buy” rating in a research note on Monday, May 20th. Jefferies Financial Group set a $130.00 target price on shares of American Express and gave the stock a “hold” rating in a research note on Friday, July 19th. Morgan Stanley set a $142.00 target price on shares of American Express and gave the stock a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. reduced their target price on shares of American Express from $135.00 to $132.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Finally, UBS Group downgraded shares of American Express from a “buy” rating to a “neutral” rating and set a $117.60 target price for the company. in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. American Express has a consensus rating of “Hold” and an average target price of $124.49.
American Express stock traded down $1.74 during mid-day trading on Tuesday, hitting $122.66. 117,033 shares of the company traded hands, compared to its average volume of 3,428,765. American Express has a one year low of $89.05 and a one year high of $129.34. The stock has a market cap of $103.40 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a fifty day moving average price of $125.63 and a 200-day moving average price of $116.75.
American Express (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.02. American Express had a net margin of 16.60% and a return on equity of 29.75%. The business had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.82 billion. During the same period in the previous year, the business posted $1.84 earnings per share. American Express’s revenue for the quarter was up 8.4% on a year-over-year basis. Sell-side analysts predict that American Express will post 8.14 EPS for the current year.
American Express Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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