American Express (NYSE:AXP) Shares Bought by Mount Vernon Associates Inc. MD

Mount Vernon Associates Inc. MD grew its position in shares of American Express (NYSE:AXP) by 79.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,496 shares of the payment services company’s stock after acquiring an additional 13,525 shares during the quarter. American Express comprises about 3.1% of Mount Vernon Associates Inc. MD’s investment portfolio, making the stock its 14th largest holding. Mount Vernon Associates Inc. MD’s holdings in American Express were worth $3,764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in AXP. Royal Bank of Scotland Group PLC raised its stake in shares of American Express by 0.4% during the second quarter. Royal Bank of Scotland Group PLC now owns 258,394 shares of the payment services company’s stock valued at $31,896,000 after purchasing an additional 1,104 shares in the last quarter. Brookstone Capital Management raised its stake in shares of American Express by 19.7% during the second quarter. Brookstone Capital Management now owns 3,135 shares of the payment services company’s stock valued at $387,000 after purchasing an additional 515 shares in the last quarter. Mitchell Capital Management Co. raised its stake in shares of American Express by 23.3% during the second quarter. Mitchell Capital Management Co. now owns 12,645 shares of the payment services company’s stock valued at $1,561,000 after purchasing an additional 2,393 shares in the last quarter. Puzo Michael J bought a new stake in shares of American Express during the second quarter valued at about $247,000. Finally, ZWJ Investment Counsel Inc. raised its stake in shares of American Express by 1.0% during the second quarter. ZWJ Investment Counsel Inc. now owns 192,876 shares of the payment services company’s stock valued at $23,809,000 after purchasing an additional 1,941 shares in the last quarter. 84.02% of the stock is owned by institutional investors.

NYSE AXP opened at $124.31 on Monday. The business’s 50-day moving average is $125.41. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.50. The firm has a market cap of $103.14 billion, a P/E ratio of 16.96, a PEG ratio of 1.40 and a beta of 1.05. American Express has a 1 year low of $89.05 and a 1 year 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.02. The firm had revenue of $10.84 billion for 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 business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.84 EPS. On average, research analysts forecast that American Express will post 8.14 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.56 annualized dividend and a yield of 1.25%. American Express’s payout ratio is presently 21.28%.

In other American Express news, Chairman Stephen J. Squeri sold 101,964 shares of American Express stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $119.95, for a total transaction of $12,230,581.80. Following the transaction, the chairman now owns 258,948 shares of the company’s stock, valued at approximately $31,060,812.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Laureen Seeger sold 44,584 shares of American Express stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $119.25, for a total value of $5,316,642.00. Following the transaction, the insider now directly owns 80,375 shares in the company, valued at approximately $9,584,718.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 190,548 shares of company stock worth $22,910,322. Corporate insiders own 0.21% of the company’s stock.

AXP has been the topic of several research reports. Jefferies Financial Group set a $130.00 price target on shares of American Express and gave the stock a “hold” rating in a research report on Friday, July 19th. ValuEngine cut shares of American Express from a “buy” rating to a “hold” rating in a research report on Thursday. Stephens set a $131.00 price target on shares of American Express and gave the stock a “buy” rating in a research report on Monday, May 20th. Deutsche Bank initiated coverage on shares of American Express in a research report on Monday, July 8th. They issued a “buy” rating and a $142.00 price target on the stock. Finally, William Blair reiterated an “outperform” rating on shares of American Express in a research report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $124.38.

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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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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