Wright Investors Service Inc. lifted its stake in American Express (NYSE:AXP) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,355 shares of the payment services company’s stock after purchasing an additional 334 shares during the quarter. American Express comprises about 2.6% of Wright Investors Service Inc.’s holdings, making the stock its 5th largest holding. Wright Investors Service Inc.’s holdings in American Express were worth $6,709,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the stock. Camarda Financial Advisors LLC acquired a new stake in American Express during the first quarter worth $26,000. Creative Financial Designs Inc. ADV acquired a new stake in American Express during the first quarter worth $28,000. HMS Capital Management LLC acquired a new stake in American Express during the second quarter worth $37,000. Edge Wealth Management LLC increased its stake in American Express by 140.3% during the second quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock worth $46,000 after acquiring an additional 216 shares during the last quarter. Finally, Enterprise Financial Services Corp increased its stake in American Express by 24.8% during the first quarter. Enterprise Financial Services Corp now owns 473 shares of the payment services company’s stock worth $51,000 after acquiring an additional 94 shares during the last quarter. 84.26% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on AXP shares. UBS Group cut 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. Stephens set a $131.00 target price on American Express and gave the stock a “buy” rating in a research note on Monday, May 20th. Bank of America started coverage on American Express in a research note on Wednesday, June 19th. They set a “buy” rating and a $145.00 target price for the company. JPMorgan Chase & Co. cut their target price on 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, BMO Capital Markets raised their target price on American Express to $119.00 and gave the stock a “market perform” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $124.49.
In related news, CFO Jeffrey C. Campbell sold 7,045 shares of American Express stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $124.91, for a total value of $879,990.95. Following the completion of the transaction, the chief financial officer now directly owns 59,620 shares in the company, valued at $7,447,134.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Stephen J. Squeri sold 101,964 shares of American Express stock in a transaction on Monday, May 20th. The shares were sold at an average price of $119.95, for a total value of $12,230,581.80. Following the completion of the transaction, the chairman now owns 258,948 shares of the company’s stock, valued at $31,060,812.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 190,548 shares of company stock valued at $22,910,322. Company insiders own 0.21% of the company’s stock.
Shares of AXP traded down $0.09 during midday trading on Thursday, hitting $122.56. 111,048 shares of the stock were exchanged, compared to its average volume of 3,534,447. American Express has a 52-week low of $89.05 and a 52-week high of $129.34. The stock’s fifty day moving average is $125.57. The firm has a market cap of $102.84 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 1.39 and a beta of 1.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.50.
American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $2.07 EPS for the quarter, topping the consensus estimate of $2.05 by $0.02. American Express had a return on equity of 29.75% and a net margin of 16.60%. The business had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.82 billion. During the same period last year, the business posted $1.84 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts anticipate that American Express will post 8.14 earnings per share for the current fiscal 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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