Inverness Counsel LLC NY Raises Position in American Express (NYSE:AXP)

Inverness Counsel LLC NY increased its stake in shares of American Express (NYSE:AXP) by 26.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 254,969 shares of the payment services company’s stock after purchasing an additional 53,668 shares during the quarter. American Express accounts for 1.5% of Inverness Counsel LLC NY’s holdings, making the stock its 22nd biggest holding. Inverness Counsel LLC NY’s holdings in American Express were worth $42,129,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. CapWealth Advisors LLC bought a new stake in shares of American Express in the 2nd quarter worth about $247,000. Wealthquest Corp boosted its position in shares of American Express by 7.6% during the second quarter. Wealthquest Corp now owns 1,850 shares of the payment services company’s stock valued at $305,000 after buying an additional 131 shares during the period. National Asset Management Inc. grew its stake in shares of American Express by 5.7% during the second quarter. National Asset Management Inc. now owns 25,504 shares of the payment services company’s stock valued at $4,214,000 after buying an additional 1,375 shares during the last quarter. Midwest Professional Planners LTD. purchased a new stake in shares of American Express in the second quarter worth approximately $263,000. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of American Express by 18.2% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 34,304 shares of the payment services company’s stock worth $5,668,000 after acquiring an additional 5,293 shares during the last quarter. 84.62% of the stock is owned by institutional investors.

Shares of AXP traded up $0.80 during trading hours on Wednesday, reaching $160.28. 75,810 shares of the company traded hands, compared to its average volume of 3,501,231. The stock has a market capitalization of $127.33 billion, a P/E ratio of 18.54, a P/E/G ratio of 0.90 and a beta of 1.28. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.46. The business has a fifty day moving average price of $166.75 and a 200-day moving average price of $158.29. American Express has a 12-month low of $89.11 and a 12-month high of $179.67.

American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, July 22nd. The payment services company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $1.16. American Express had a return on equity of 26.15% and a net margin of 18.72%. The business had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.59 billion. During the same period in the prior year, the company earned $0.29 earnings per share. The company’s revenue was up 33.5% on a year-over-year basis. As a group, research analysts predict that American Express will post 8.82 EPS for the current fiscal year.

AXP has been the subject of a number of recent analyst reports. Oppenheimer reissued a “buy” rating and set a $173.18 target price on shares of American Express in a research note on Sunday, July 25th. BMO Capital Markets boosted their price target on American Express from $135.00 to $151.00 and gave the company a “market perform” rating in a report on Monday, July 26th. They noted that the move was a valuation call. Daiwa Capital Markets lowered American Express from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research report on Thursday, August 12th. Barclays raised their price target on American Express from $155.00 to $166.00 and gave the company an “equal weight” rating in a research note on Monday, July 26th. Finally, started coverage on shares of American Express in a research report on Friday, July 9th. They set a “hold” rating and a $183.00 target price on the stock. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $163.15.

In other American Express news, CFO Jeffrey C. Campbell sold 74,677 shares of American Express stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $170.48, for a total value of $12,730,934.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marc D. Gordon sold 13,424 shares of the firm’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $159.24, for a total value of $2,137,637.76. The disclosure for this sale can be found here. Insiders have sold a total of 108,726 shares of company stock valued at $18,280,773 over the last three months. 0.20% of the stock is currently owned by insiders.

American Express Profile

American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services, and Corporate and Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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