Moneta Group Investment Advisors LLC decreased its holdings in shares of American Express (NYSE:AXP) by 88.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 747 shares of the payment services company’s stock after selling 5,456 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in American Express were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. HMS Capital Management LLC acquired a new position in American Express in the second quarter worth approximately $37,000. Edge Wealth Management LLC increased its stake in shares of American Express by 140.3% during the 2nd 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 last quarter. Manchester Financial Inc. bought a new position in shares of American Express during the 2nd quarter valued at $59,000. Westside Investment Management Inc. bought a new position in shares of American Express during the 2nd quarter valued at $60,000. Finally, Coastal Capital Group Inc. acquired a new stake in shares of American Express in the 2nd quarter valued at $60,000. 83.89% of the stock is currently owned by hedge funds and other institutional investors.
In other American Express news, insider Paul D. Fabara sold 15,455 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $127.06, for a total value of $1,963,712.30. Following the sale, the insider now directly owns 35,931 shares in the company, valued at approximately $4,565,392.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Squeri sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $118.33, for a total transaction of $1,774,950.00. Following the transaction, the chief executive officer now owns 199,609 shares in the company, valued at approximately $23,619,732.97. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,500 shares of company stock worth $4,618,653. Company insiders own 0.21% of the company’s stock.
A number of brokerages recently issued reports on AXP. Wells Fargo & Co upped their price objective on shares of American Express from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Stephens set a $131.00 target price on American Express and gave the company a “buy” rating in a report on Monday, May 20th. Deutsche Bank initiated coverage on American Express in a research report 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. Finally, ValuEngine downgraded American Express from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $124.49.
Shares of NYSE:AXP traded up $0.36 during midday trading on Wednesday, hitting $117.67. The company’s stock had a trading volume of 2,089,895 shares, compared to its average volume of 3,312,001. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.84 and a current ratio of 1.84. The stock’s 50 day simple moving average is $122.70 and its 200 day simple moving average is $118.32. The stock has a market capitalization of $97.33 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 1.35 and a beta of 1.06. American Express has a fifty-two week low of $89.05 and a fifty-two week high of $129.34.
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 consensus estimate of $2.05 by $0.02. American Express had a return on equity of 29.75% and a net margin of 16.60%. The business had revenue of $10.84 billion during the quarter, compared to analysts’ expectations of $10.82 billion. During the same quarter in the previous year, the firm earned $1.84 EPS. The firm’s revenue was up 8.4% compared to the same quarter last year. As a group, analysts anticipate that American Express will post 8.14 EPS 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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