Knuff & Co LLC Raises Holdings in American Express (NYSE:AXP)

Knuff & Co LLC grew its position in American Express (NYSE:AXP) by 4.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,950 shares of the payment services company’s stock after buying an additional 395 shares during the quarter. American Express accounts for 0.9% of Knuff & Co LLC’s holdings, making the stock its 28th largest holding. Knuff & Co LLC’s holdings in American Express were worth $1,228,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. HMS Capital Management LLC acquired a new position in shares of American Express in the second quarter valued at about $37,000. Edge Wealth Management LLC lifted its position 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 buying an additional 216 shares in the last quarter. Enterprise Financial Services Corp lifted its position 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 buying an additional 94 shares in the last quarter. Manchester Financial Inc. purchased a new position in American Express during the second quarter worth approximately $59,000. Finally, Westside Investment Management Inc. purchased a new position in American Express during the second quarter worth approximately $60,000. Institutional investors and hedge funds own 83.96% of the company’s stock.

Shares of AXP traded up $2.10 on Thursday, reaching $121.19. The stock had a trading volume of 99,998 shares, compared to its average volume of 3,374,615. The firm has a market capitalization of $98.34 billion, a PE ratio of 16.52, a PEG ratio of 1.33 and a beta of 1.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 2.50. The firm has a 50-day moving average of $124.57 and a 200 day moving average of $117.46. American Express has a twelve month low of $89.05 and a twelve month high of $129.34.

American Express (NYSE:AXP) last issued its quarterly earnings results 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 company 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%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.84 EPS. On average, sell-side analysts anticipate that American Express will post 8.14 earnings per share for the current fiscal year.

AXP has been the subject of several recent analyst reports. 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. ValuEngine cut American Express from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. 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. Deutsche Bank initiated coverage on American Express in a research note on Monday, July 8th. They set a “buy” rating and a $142.00 target price for the company. Finally, Wells Fargo & Co raised their target price on American Express from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $124.49.

In related news, CFO Jeffrey C. Campbell sold 6,500 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $122.93, for a total value of $799,045.00. Following the transaction, the chief financial officer now directly owns 68,379 shares of the company’s stock, valued at approximately $8,405,830.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Stephen J. Squeri sold 15,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $114.69, for a total value of $1,720,350.00. Following the completion of the transaction, the chairman now directly owns 214,815 shares in the company, valued at $24,637,132.35. The disclosure for this sale can be found here. Insiders sold a total of 44,000 shares of company stock worth $5,363,098 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

American Express Company 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.

Featured Story: Quantitative Easing

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).

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

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.