Lakeview Capital Partners LLC Increases Stock Holdings in American Express (NYSE:AXP)

Lakeview Capital Partners LLC increased its holdings in shares of American Express (NYSE:AXP) by 0.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 22,209 shares of the payment services company’s stock after purchasing an additional 150 shares during the period. American Express comprises 1.6% of Lakeview Capital Partners LLC’s holdings, making the stock its 11th largest holding. Lakeview Capital Partners LLC’s holdings in American Express were worth $2,741,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AXP. Comerica Securities Inc. grew its position in shares of American Express by 5.3% during the 4th quarter. Comerica Securities Inc. now owns 5,582 shares of the payment services company’s stock worth $532,000 after buying an additional 279 shares during the period. Geode Capital Management LLC grew its position in shares of American Express by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 8,486,121 shares of the payment services company’s stock worth $807,358,000 after buying an additional 459,983 shares during the period. Meeder Asset Management Inc. grew its position in shares of American Express by 62.4% during the 1st quarter. Meeder Asset Management Inc. now owns 2,617 shares of the payment services company’s stock worth $286,000 after buying an additional 1,006 shares during the period. Eqis Capital Management Inc. grew its position in shares of American Express by 22.3% during the 1st quarter. Eqis Capital Management Inc. now owns 26,583 shares of the payment services company’s stock worth $2,905,000 after buying an additional 4,845 shares during the period. Finally, Selway Asset Management grew its position in shares of American Express by 6.5% during the 1st quarter. Selway Asset Management now owns 15,200 shares of the payment services company’s stock worth $1,661,000 after buying an additional 930 shares during the period. Hedge funds and other institutional investors own 83.96% of the company’s stock.

Shares of AXP traded down $1.14 during trading hours on Tuesday, reaching $123.26. The stock had a trading volume of 74,173 shares, compared to its average volume of 3,428,765. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.50. The firm has a 50-day simple moving average of $125.63 and a 200 day simple moving average of $116.75. American Express has a 12 month low of $89.05 and a 12 month high of $129.34. The company has a market capitalization of $103.40 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 1.40 and a beta of 1.05.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, July 19th. The payment services company reported $2.07 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $10.82 billion. During the same period last year, the business earned $1.84 EPS. The business’s revenue was up 8.4% on a year-over-year basis. On average, equities analysts forecast that American Express will post 8.14 EPS for the current year.

In other American Express news, CFO Jeffrey C. Campbell sold 7,045 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $124.91, for a total transaction of $879,990.95. Following the transaction, the chief financial officer now directly owns 59,620 shares in the company, valued at approximately $7,447,134.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jeffrey C. Campbell sold 6,500 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $122.93, for a total value of $799,045.00. Following the transaction, the chief financial officer now owns 68,379 shares in the company, valued at $8,405,830.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 88,584 shares of company stock worth $10,679,740. Company insiders own 0.21% of the company’s stock.

A number of brokerages recently issued reports on AXP. BMO Capital Markets increased their target price on American Express to $119.00 and gave the stock a “market perform” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. cut their target price on American Express from $135.00 to $132.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. William Blair reiterated an “outperform” rating on shares of American Express in a report on Tuesday, June 18th. UBS Group cut American Express from a “buy” rating to a “neutral” rating and set a $117.60 target price on the stock. in a report on Monday, April 29th. Finally, Royal Bank of Canada increased their target price on American Express from $120.00 to $125.00 and gave the stock a “sector perform” rating in a report on Monday, July 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $124.49.

About American Express

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

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