Ossiam acquired a new position in American Express (NYSE:AXP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,733 shares of the payment services company’s stock, valued at approximately $584,000.
A number of other hedge funds also recently bought and sold shares of the stock. Magellan Asset Management Ltd increased its stake in American Express by 212,845.6% during the 2nd quarter. Magellan Asset Management Ltd now owns 9,580,424 shares of the payment services company’s stock valued at $1,182,608,000 after buying an additional 9,575,925 shares during the period. FMR LLC increased its stake in shares of American Express by 6.9% during the first quarter. FMR LLC now owns 26,274,516 shares of the payment services company’s stock valued at $2,871,804,000 after acquiring an additional 1,690,676 shares during the period. Egerton Capital UK LLP increased its stake in shares of American Express by 18.4% during the first quarter. Egerton Capital UK LLP now owns 9,368,737 shares of the payment services company’s stock valued at $1,024,003,000 after acquiring an additional 1,452,890 shares during the period. Findlay Park Partners LLP increased its stake in shares of American Express by 24.8% during the first quarter. Findlay Park Partners LLP now owns 3,367,074 shares of the payment services company’s stock valued at $368,021,000 after acquiring an additional 669,053 shares during the period. Finally, Capital Wealth Planning LLC raised its holdings in American Express by 3,750.4% during the second quarter. Capital Wealth Planning LLC now owns 494,394 shares of the payment services company’s stock worth $61,028,000 after purchasing an additional 481,554 shares in the last quarter. 83.89% of the stock is owned by institutional investors and hedge funds.
American Express stock traded up $0.55 during mid-day trading on Wednesday, hitting $117.86. The company’s stock had a trading volume of 134,031 shares, compared to its average volume of 3,312,001. The stock has a market capitalization of $97.33 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.35 and a beta of 1.06. American Express has a twelve month low of $89.05 and a twelve month high of $129.34. The stock’s fifty day moving average price is $122.70 and its two-hundred day moving average price is $118.32. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 2.50.
American Express (NYSE:AXP) last announced its quarterly earnings data 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 company 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 quarter in the prior year, the firm earned $1.84 EPS. Equities analysts expect that American Express will post 8.14 earnings per share for the current year.
A number of equities research analysts have weighed in on AXP shares. William Blair restated an “outperform” rating on shares of American Express in a research report on Tuesday, June 18th. ValuEngine cut American Express from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Wells Fargo & Co boosted their price objective on American Express from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. BMO Capital Markets boosted their price objective on American Express to $119.00 and gave the stock a “market perform” rating in a research note on Monday, July 22nd. Finally, Jefferies Financial Group set a $130.00 price objective on American Express and gave the company a “hold” rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. American Express presently has an average rating of “Hold” and an average price target of $124.49.
In related news, insider Paul D. Fabara sold 15,455 shares of the 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 transaction, the insider now owns 35,931 shares in the company, valued at approximately $4,565,392.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 15,000 shares of the 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 transaction, the chief executive officer now owns 199,609 shares of the company’s stock, valued at approximately $23,619,732.97. 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 90 days. Insiders own 0.21% of the company’s stock.
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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