American Express (NYSE:AXP) Shares Purchased by Harwood Advisory Group LLC

Harwood Advisory Group LLC boosted its stake in American Express (NYSE:AXP) by 9.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 20,765 shares of the payment services company’s stock after purchasing an additional 1,863 shares during the period. Harwood Advisory Group LLC’s holdings in American Express were worth $2,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. FMR LLC increased its position in American Express by 6.9% in the first quarter. FMR LLC now owns 26,274,516 shares of the payment services company’s stock worth $2,871,804,000 after buying an additional 1,690,676 shares during the period. Fisher Asset Management LLC increased its holdings in shares of American Express by 3.5% during the second quarter. Fisher Asset Management LLC now owns 11,352,692 shares of the payment services company’s stock valued at $1,401,376,000 after purchasing an additional 381,084 shares during the period. Egerton Capital UK LLP increased its holdings 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 purchasing an additional 1,452,890 shares during the period. Geode Capital Management LLC increased its holdings in shares of American Express by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 8,486,121 shares of the payment services company’s stock valued at $807,358,000 after purchasing an additional 459,983 shares during the period. Finally, Veritas Asset Management LLP increased its holdings in shares of American Express by 0.5% during the first quarter. Veritas Asset Management LLP now owns 6,551,519 shares of the payment services company’s stock valued at $716,081,000 after purchasing an additional 29,563 shares during the period. 83.96% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have recently commented on AXP shares. Morgan Stanley set a $142.00 price target on American Express and gave the company a “buy” rating in a report on Friday, August 9th. UBS Group lowered American Express from a “buy” rating to a “neutral” rating and set a $117.60 price target on the stock. in a report on Monday, April 29th. Jefferies Financial Group set a $130.00 price target on American Express and gave the company a “hold” rating in a report on Friday, July 19th. JPMorgan Chase & Co. lowered their price target on American Express from $135.00 to $132.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Finally, Bank of America started coverage on American Express in a report on Wednesday, June 19th. They set a “buy” rating and a $145.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $124.49.

In related news, CFO Jeffrey C. Campbell sold 7,045 shares of American Express stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $124.91, for a total transaction of $879,990.95. Following the transaction, the chief financial officer now directly owns 59,620 shares of the company’s stock, valued at $7,447,134.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 15,455 shares of American Express stock in a transaction dated 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 transaction, the insider now directly owns 35,931 shares in the company, valued at $4,565,392.86. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,584 shares of company stock worth $10,679,740. 0.21% of the stock is owned by corporate insiders.

NYSE:AXP traded down $4.51 during mid-day trading on Friday, reaching $117.76. 4,071,359 shares of the stock were exchanged, compared to its average volume of 3,279,351. The business has a fifty day moving average price of $125.30 and a 200 day moving average price of $117.12. The firm has a market capitalization of $101.44 billion, a PE ratio of 16.07, a PEG ratio of 1.37 and a beta of 1.05. American Express has a 1-year low of $89.05 and a 1-year high of $129.34. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.50.

American Express (NYSE:AXP) last released its earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.02. The firm had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.82 billion. American Express had a return on equity of 29.75% and a net margin of 16.60%. American Express’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.84 earnings per share. On average, sell-side analysts forecast that American Express will post 8.14 earnings per share for the current year.

American Express Company 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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