Mid Atlantic Financial Management Inc. ADV raised its holdings in American Express (NYSE:AXP) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,231 shares of the payment services company’s stock after acquiring an additional 82 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in American Express were worth $1,360,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. REDW Wealth LLC increased its position in American Express by 2.5% during the second quarter. REDW Wealth LLC now owns 2,452 shares of the payment services company’s stock worth $405,000 after acquiring an additional 59 shares during the period. Benedetti & Gucer Inc. lifted its position in American Express by 1.9% during the 2nd quarter. Benedetti & Gucer Inc. now owns 3,173 shares of the payment services company’s stock worth $524,000 after buying an additional 60 shares in the last quarter. Piscataqua Savings Bank lifted its position in American Express by 0.8% during the 2nd quarter. Piscataqua Savings Bank now owns 7,502 shares of the payment services company’s stock worth $1,239,000 after buying an additional 62 shares in the last quarter. Bfsg LLC lifted its position in American Express by 0.4% during the 2nd quarter. Bfsg LLC now owns 17,179 shares of the payment services company’s stock worth $2,838,000 after buying an additional 64 shares in the last quarter. Finally, Atlas Private Wealth Advisors lifted its position in American Express by 6.4% during the 2nd quarter. Atlas Private Wealth Advisors now owns 1,083 shares of the payment services company’s stock valued at $179,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 84.62% of the company’s stock.
In related news, insider Laureen Seeger sold 20,625 shares of the firm’s stock in a transaction dated Thursday, June 17th. The shares were sold at an average price of $165.44, for a total value of $3,412,200.00. Following the transaction, the insider now directly owns 63,987 shares of the company’s stock, valued at approximately $10,586,009.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Marc D. Gordon sold 13,424 shares of the firm’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $159.24, for a total transaction of $2,137,637.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 108,726 shares of company stock valued at $18,280,773. 0.20% of the stock is owned by company insiders.
American Express (NYSE:AXP) last posted its earnings results on Thursday, July 22nd. The payment services company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $1.16. American Express had a return on equity of 26.15% and a net margin of 18.72%. The company had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.59 billion. During the same period in the previous year, the business earned $0.29 earnings per share. The firm’s revenue for the quarter was up 33.5% on a year-over-year basis. Equities analysts forecast that American Express will post 8.82 earnings per share for the current fiscal year.
AXP has been the subject of a number of research reports. Morgan Stanley reissued an “overweight” rating and set a $173.00 target price (up from $171.00) on shares of American Express in a research note on Monday, July 26th. Seaport Global Securities initiated coverage on American Express in a report on Monday, August 30th. They set a “neutral” rating for the company. Wells Fargo & Company raised their price target on American Express from $185.00 to $200.00 and gave the company an “overweight” rating in a report on Monday, July 12th. Credit Suisse Group reaffirmed an “underperform” rating and set a $173.92 price target (up previously from $135.00) on shares of American Express in a report on Monday, July 26th. Finally, The Goldman Sachs Group raised American Express from a “neutral” rating to a “buy” rating and raised their price target for the company from $185.00 to $225.00 in a report on Tuesday, July 6th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, American Express has an average rating of “Hold” and a consensus price target of $163.15.
American Express Company Profile
American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services, and Corporate and Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.
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