B. Riley Wealth Management Inc. Has $218,000 Stock Position in American Express (NYSE:AXP)

B. Riley Wealth Management Inc. lowered its stake in American Express (NYSE:AXP) by 57.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,292 shares of the payment services company’s stock after selling 3,107 shares during the period. B. Riley Wealth Management Inc.’s holdings in American Express were worth $218,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. boosted its position in American Express by 6.2% in the second quarter. BlackRock Inc. now owns 45,537,738 shares of the payment services company’s stock valued at $4,335,193,000 after buying an additional 2,645,570 shares in the last quarter. Wellington Management Group LLP boosted its position in American Express by 28.8% in the first quarter. Wellington Management Group LLP now owns 36,189,848 shares of the payment services company’s stock valued at $3,098,213,000 after buying an additional 8,097,131 shares in the last quarter. Fisher Asset Management LLC boosted its position in American Express by 4.1% in the second quarter. Fisher Asset Management LLC now owns 14,608,262 shares of the payment services company’s stock valued at $1,390,707,000 after buying an additional 569,150 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in American Express by 9.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 10,681,642 shares of the payment services company’s stock valued at $914,455,000 after buying an additional 965,938 shares in the last quarter. Finally, Viking Global Investors LP boosted its position in American Express by 170.7% in the second quarter. Viking Global Investors LP now owns 10,497,498 shares of the payment services company’s stock valued at $999,362,000 after buying an additional 6,619,218 shares in the last quarter. Hedge funds and other institutional investors own 84.14% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Deutsche Bank dropped their price target on shares of American Express from $108.00 to $106.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Compass Point raised their price target on shares of American Express from $78.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Citigroup downgraded shares of American Express from a “buy” rating to a “neutral” rating and dropped their price target for the company from $110.00 to $105.00 in a research note on Wednesday, July 8th. JPMorgan Chase & Co. downgraded shares of American Express from a “neutral” rating to an “underweight” rating and set a $97.00 price target for the company. in a research note on Wednesday, July 15th. Finally, Bank of America raised their price target on shares of American Express from $105.00 to $106.00 and gave the company a “neutral” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $106.75.

In other news, insider Denise Pickett sold 2,864 shares of American Express stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $96.62, for a total transaction of $276,719.68. Following the completion of the transaction, the insider now directly owns 10,202 shares in the company, valued at $985,717.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is owned by company insiders.

NYSE:AXP traded down $0.32 during trading hours on Wednesday, reaching $106.36. The company had a trading volume of 110,004 shares, compared to its average volume of 3,529,964. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 2.32. The firm has a market cap of $85.89 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 2.66 and a beta of 1.15. The business’s 50-day simple moving average is $99.86 and its two-hundred day simple moving average is $94.89. American Express has a twelve month low of $67.00 and a twelve month high of $138.13.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 24th. The payment services company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.16. The business had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $8.25 billion. American Express had a net margin of 10.02% and a return on equity of 24.08%. The business’s quarterly revenue was down 29.2% on a year-over-year basis. During the same period last year, the company posted $2.07 earnings per share. As a group, equities analysts predict that American Express will post 4.52 earnings per share for the current 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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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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