United Capital Financial Advisers LLC Lowers Holdings in American Express (NYSE:AXP)

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United Capital Financial Advisers LLC decreased its holdings in American Express (NYSE:AXP) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 197,504 shares of the payment services company’s stock after selling 728 shares during the quarter. United Capital Financial Advisers LLC’s holdings in American Express were worth $24,380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AXP. Laurel Wealth Advisors Inc. lifted its stake in American Express by 2.0% in the first quarter. Laurel Wealth Advisors Inc. now owns 4,192 shares of the payment services company’s stock worth $458,000 after acquiring an additional 84 shares during the last quarter. Welch Group LLC lifted its stake in American Express by 2.2% in the second quarter. Welch Group LLC now owns 3,855 shares of the payment services company’s stock worth $476,000 after acquiring an additional 84 shares during the last quarter. Papp L Roy & Associates lifted its stake in American Express by 1.3% in the first quarter. Papp L Roy & Associates now owns 6,750 shares of the payment services company’s stock worth $738,000 after acquiring an additional 86 shares during the last quarter. Signaturefd LLC lifted its stake in American Express by 2.0% in the second quarter. Signaturefd LLC now owns 4,492 shares of the payment services company’s stock worth $554,000 after acquiring an additional 88 shares during the last quarter. Finally, Brandywine Oak Private Wealth LLC lifted its stake in American Express by 3.8% in the first quarter. Brandywine Oak Private Wealth LLC now owns 2,654 shares of the payment services company’s stock worth $290,000 after acquiring an additional 97 shares during the last quarter. 83.89% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on AXP. Stephens set a $131.00 price target on shares of American Express and gave the stock a “buy” rating in a research note on Monday, May 20th. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Tuesday, June 18th. Wells Fargo & Co lifted their price target on shares of American Express from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. Morgan Stanley set a $142.00 price target on shares of American Express and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, ValuEngine downgraded shares of American Express from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $124.49.

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 transaction, the chief executive officer now directly owns 199,609 shares of the company’s stock, valued at approximately $23,619,732.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey C. Campbell sold 7,045 shares of American Express 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 completion of the transaction, the chief financial officer now directly owns 59,620 shares in the company, valued at $7,447,134.20. The disclosure for this sale can be found here. Insiders sold a total of 37,500 shares of company stock worth $4,618,653 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Shares of NYSE:AXP traded up $0.10 during trading on Friday, hitting $119.12. 176,159 shares of the company were exchanged, compared to its average volume of 3,461,172. The stock has a market capitalization of $98.75 billion, a P/E ratio of 16.25, a PEG ratio of 1.32 and a beta of 1.06. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.84 and a quick ratio of 1.84. American Express has a 12-month low of $89.05 and a 12-month high of $129.34. The firm’s 50 day moving average price is $122.49 and its 200-day moving average price is $118.37.

American Express (NYSE:AXP) last issued 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. The business had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.82 billion. American Express had a net margin of 16.60% and a return on equity of 29.75%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 EPS. As a group, equities research analysts anticipate that American Express will post 8.14 EPS for the current year.

About American Express

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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