Toronto Dominion Bank reduced its position in shares of American Express (NYSE:AXP) by 14.6% in the 2nd quarter, Holdings Channel reports. The firm owned 437,783 shares of the payment services company’s stock after selling 74,862 shares during the period. Toronto Dominion Bank’s holdings in American Express were worth $54,025,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. HMS Capital Management LLC acquired a new position in American Express during the second quarter worth about $37,000. Edge Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 216 shares during the period. Manchester Financial Inc. acquired a new position in shares of American Express during the second quarter worth $59,000. Coastal Capital Group Inc. bought a new stake in shares of American Express in the second quarter worth $60,000. Finally, Westside Investment Management Inc. bought a new stake in shares of American Express in the second quarter worth $60,000. Institutional investors and hedge funds own 83.89% of the company’s stock.
In other news, CEO Stephen J. Squeri sold 15,000 shares of American Express stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $118.33, for a total value of $1,774,950.00. Following the completion of the sale, the chief executive officer now owns 199,609 shares in the company, valued at approximately $23,619,732.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey C. Campbell sold 7,045 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $124.91, for a total transaction of $879,990.95. Following the transaction, the chief financial officer now owns 59,620 shares in the company, valued at approximately $7,447,134.20. The disclosure for this sale can be found here. Insiders have sold 37,500 shares of company stock valued at $4,618,653 in the last ninety days. 0.21% of the stock is currently owned by insiders.
AXP traded up $0.45 during trading on Wednesday, reaching $117.76. 159,930 shares of the stock traded hands, compared to its average volume of 3,312,001. 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 stock’s 50-day moving average is $122.70 and its 200 day moving average is $118.32. American Express has a 12 month low of $89.05 and a 12 month high of $129.34. The stock has a market capitalization of $97.33 billion, a PE ratio of 16.08, a P/E/G ratio of 1.35 and a beta of 1.06.
American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, July 19th. The payment services company reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.02. The firm had revenue of $10.84 billion during 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 quarterly revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $1.84 EPS. As a group, equities research analysts anticipate that American Express will post 8.14 EPS for the current year.
AXP has been the subject of several analyst reports. Morgan Stanley set a $142.00 target price on American Express and gave the stock a “buy” rating in a research report on Friday, August 9th. ValuEngine downgraded American Express from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Deutsche Bank started coverage on American Express in a research report on Monday, July 8th. They issued a “buy” rating and a $142.00 price target on the stock. Stephens set a $131.00 price target on American Express and gave the company a “buy” rating in a research note on Monday, May 20th. Finally, JPMorgan Chase & Co. lowered their price objective on American Express from $135.00 to $132.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $124.49.
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.
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