L & S Advisors Inc lifted its stake in shares of American Express (NYSE:AXP) by 20.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 67,935 shares of the payment services company’s stock after acquiring an additional 11,457 shares during the period. American Express makes up about 1.1% of L & S Advisors Inc’s holdings, making the stock its 14th largest holding. L & S Advisors Inc’s holdings in American Express were worth $8,386,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Laurel Wealth Advisors Inc. raised its holdings in American Express by 2.0% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 4,192 shares of the payment services company’s stock valued at $458,000 after acquiring an additional 84 shares in the last quarter. Welch Group LLC raised its holdings in shares of American Express by 2.2% in the 2nd quarter. Welch Group LLC now owns 3,855 shares of the payment services company’s stock worth $476,000 after buying an additional 84 shares in the last quarter. Papp L Roy & Associates raised its holdings in shares of American Express by 1.3% in the 1st quarter. Papp L Roy & Associates now owns 6,750 shares of the payment services company’s stock worth $738,000 after buying an additional 86 shares in the last quarter. Signaturefd LLC raised its holdings in shares of American Express by 2.0% in the 2nd quarter. Signaturefd LLC now owns 4,492 shares of the payment services company’s stock worth $554,000 after buying an additional 88 shares in the last quarter. Finally, Brandywine Oak Private Wealth LLC raised its holdings in shares of American Express by 3.8% in the 1st quarter. Brandywine Oak Private Wealth LLC now owns 2,654 shares of the payment services company’s stock worth $290,000 after buying an additional 97 shares in the last quarter. Institutional investors own 83.89% of the company’s stock.
A number of brokerages have recently issued reports on AXP. ValuEngine cut American Express from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Stephens set a $131.00 target price on American Express and gave the stock a “buy” rating in a report on Monday, May 20th. Deutsche Bank began coverage on American Express in a report on Monday, July 8th. They issued a “buy” rating and a $142.00 target price for the company. JPMorgan Chase & Co. dropped their target price on American Express from $135.00 to $132.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Finally, Wells Fargo & Co increased their target price on American Express from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. American Express presently has a consensus rating of “Hold” and an average target price of $124.49.
AXP stock opened at $119.03 on Friday. The business has a fifty day moving average price of $122.49 and a 200 day moving average price of $118.37. American Express has a fifty-two week low of $89.05 and a fifty-two week high of $129.34. The stock has a market capitalization of $98.75 billion, a price-to-earnings ratio of 16.24, a P/E/G 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 (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.02. American Express had a return on equity of 29.75% and a net margin of 16.60%. The firm had revenue of $10.84 billion during the quarter, compared to analysts’ expectations of $10.82 billion. During the same period last year, the firm posted $1.84 EPS. The business’s revenue was up 8.4% on a year-over-year basis. On average, equities analysts expect that American Express will post 8.14 earnings per share for the current fiscal year.
In other American Express news, CEO Stephen J. Squeri sold 15,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was 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 in the company, valued at approximately $23,619,732.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 15,455 shares of the stock in a transaction on Thursday, July 25th. The shares were 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 $4,565,392.86. The disclosure for this sale can be found here. Insiders have sold a total of 37,500 shares of company stock valued at $4,618,653 over the last ninety 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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