IFG Advisory LLC Has $1.93 Million Stock Holdings in American Express (NYSE:AXP)

IFG Advisory LLC cut its stake in American Express (NYSE:AXP) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,602 shares of the payment services company’s stock after selling 418 shares during the period. IFG Advisory LLC’s holdings in American Express were worth $1,925,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXP. Beaumont Financial Partners LLC increased its stake in shares of American Express by 10.0% in the 2nd quarter. Beaumont Financial Partners LLC now owns 2,969 shares of the payment services company’s stock valued at $367,000 after purchasing an additional 270 shares during the last quarter. H D Vest Advisory Services increased its stake in shares of American Express by 58.4% in the 2nd quarter. H D Vest Advisory Services now owns 4,550 shares of the payment services company’s stock valued at $562,000 after purchasing an additional 1,677 shares during the last quarter. Waters Parkerson & CO. LLC increased its stake in shares of American Express by 6.0% in the 2nd quarter. Waters Parkerson & CO. LLC now owns 3,088 shares of the payment services company’s stock valued at $381,000 after purchasing an additional 175 shares during the last quarter. Altshuler Shaham Ltd increased its stake in shares of American Express by 23.9% in the 2nd quarter. Altshuler Shaham Ltd now owns 16,423 shares of the payment services company’s stock valued at $2,027,000 after purchasing an additional 3,169 shares during the last quarter. Finally, Farr Miller & Washington LLC DC bought a new position in shares of American Express in the 2nd quarter valued at $204,000. 83.96% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on AXP. Deutsche Bank began coverage on American Express in a research note on Monday, July 8th. They issued a “buy” rating and a $142.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Tuesday, June 18th. UBS Group lowered American Express from a “buy” rating to a “neutral” rating and set a $117.60 price target on the stock. in a research note on Monday, April 29th. ValuEngine lowered American Express from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, BMO Capital Markets lifted their price target on American Express to $119.00 and gave the company a “market perform” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $124.49.

In related news, CFO Jeffrey C. Campbell sold 6,500 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $122.93, for a total transaction of $799,045.00. Following the sale, the chief financial officer now owns 68,379 shares in the company, valued at approximately $8,405,830.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Laureen Seeger sold 44,584 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $119.25, for a total value of $5,316,642.00. Following the sale, the insider now owns 80,375 shares in the company, valued at approximately $9,584,718.75. The disclosure for this sale can be found here. Insiders have sold a total of 88,584 shares of company stock worth $10,679,740 in the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

AXP stock traded down $3.22 during midday trading on Friday, reaching $119.05. 1,207,045 shares of the stock were exchanged, compared to its average volume of 3,330,431. The stock has a market capitalization of $100.74 billion, a PE ratio of 16.24, a P/E/G ratio of 1.36 and a beta of 1.05. American Express has a 52 week low of $89.05 and a 52 week high of $129.34. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.84 and a quick ratio of 1.84. The company has a fifty day moving average price of $125.45 and a 200 day moving average price of $117.04.

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, topping analysts’ consensus estimates of $2.05 by $0.02. The business had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.82 billion. American Express had a return on equity of 29.75% and a net margin of 16.60%. American Express’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 EPS. As a group, analysts anticipate that American Express will post 8.14 earnings per share for the current fiscal year.

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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