Tdam USA Inc. trimmed its position in American Express (NYSE:AXP) by 10.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,964 shares of the payment services company’s stock after selling 1,809 shares during the quarter. Tdam USA Inc.’s holdings in American Express were worth $1,971,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Morse Asset Management Inc increased its holdings in American Express by 115.6% in the 2nd quarter. Morse Asset Management Inc now owns 71,720 shares of the payment services company’s stock worth $8,853,000 after acquiring an additional 38,450 shares in the last quarter. Keybank National Association OH boosted its stake in American Express by 0.9% in the 2nd quarter. Keybank National Association OH now owns 100,332 shares of the payment services company’s stock worth $12,385,000 after purchasing an additional 924 shares during the period. Westpac Banking Corp boosted its stake in American Express by 99.0% in the 2nd quarter. Westpac Banking Corp now owns 294,778 shares of the payment services company’s stock worth $36,387,000 after purchasing an additional 146,674 shares during the period. Charter Trust Co. boosted its stake in American Express by 1.1% in the 2nd quarter. Charter Trust Co. now owns 13,121 shares of the payment services company’s stock worth $1,620,000 after purchasing an additional 144 shares during the period. Finally, Dumont & Blake Investment Advisors LLC bought a new position in American Express in the 2nd quarter worth approximately $223,000. 84.26% of the stock is owned by institutional investors.
Several research firms have weighed in 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 for the company. Jefferies Financial Group set a $130.00 price target on American Express and gave the stock a “hold” rating in a research note on Friday, July 19th. Bank of America began coverage on American Express in a research note on Wednesday, June 19th. They issued a “buy” rating and a $145.00 price target for the company. BMO Capital Markets upped their price target on American Express to $119.00 and gave the stock a “market perform” rating in a research note on Monday, July 22nd. Finally, Wells Fargo & Co upped their price target 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. American Express has a consensus rating of “Hold” and an average target price of $124.49.
In related news, insider Paul D. Fabara sold 15,455 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $127.06, for a total value of $1,963,712.30. Following the completion of the sale, the insider now directly owns 35,931 shares in the company, valued at $4,565,392.86. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $879,990.95. Following the completion of the sale, the chief financial officer now owns 59,620 shares of the company’s stock, valued at $7,447,134.20. The disclosure for this sale can be found here. Insiders have sold a total of 190,548 shares of company stock valued at $22,910,322 over the last quarter. Corporate insiders own 0.21% of the company’s stock.
Shares of NYSE AXP traded down $3.79 during midday trading on Wednesday, reaching $122.53. 240,787 shares of the stock traded hands, compared to its average volume of 3,363,736. 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 company has a market capitalization of $104.80 billion, a PE ratio of 16.72, a PEG ratio of 1.42 and a beta of 1.05. American Express has a one year low of $89.05 and a one year high of $129.34. The stock has a 50 day moving average of $125.59.
American Express (NYSE:AXP) last posted its earnings results on Friday, July 19th. The payment services company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.02. The firm had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.82 billion. American Express had a return on equity of 29.75% and a net margin of 16.60%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.84 EPS. On average, equities research analysts forecast that American Express will post 8.14 earnings per share for the current fiscal 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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