American Express (NYSE:AXP) Shares Sold by World Asset Management Inc

World Asset Management Inc lowered its holdings in American Express (NYSE:AXP) by 5.9% in the second quarter, HoldingsChannel reports. The firm owned 20,206 shares of the payment services company’s stock after selling 1,272 shares during the quarter. World Asset Management Inc’s holdings in American Express were worth $3,339,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. REDW Wealth LLC lifted its holdings in American Express by 2.5% in the 2nd quarter. REDW Wealth LLC now owns 2,452 shares of the payment services company’s stock valued at $405,000 after purchasing an additional 59 shares in the last quarter. Benedetti & Gucer Inc. lifted its holdings in American Express by 1.9% in the 2nd quarter. Benedetti & Gucer Inc. now owns 3,173 shares of the payment services company’s stock valued at $524,000 after purchasing an additional 60 shares in the last quarter. Piscataqua Savings Bank lifted its holdings in American Express by 0.8% in the 2nd quarter. Piscataqua Savings Bank now owns 7,502 shares of the payment services company’s stock valued at $1,239,000 after purchasing an additional 62 shares in the last quarter. Bfsg LLC lifted its holdings in American Express by 0.4% in the 2nd quarter. Bfsg LLC now owns 17,179 shares of the payment services company’s stock valued at $2,838,000 after purchasing an additional 64 shares in the last quarter. Finally, Atlas Private Wealth Advisors lifted its holdings in American Express by 6.4% in 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 in the last quarter. Hedge funds and other institutional investors own 84.62% of the company’s stock.

AXP has been the topic of several recent analyst reports. Seaport Res Ptn reiterated a “neutral” rating on shares of American Express in a report on Monday, August 30th. BMO Capital Markets increased their price objective on shares of American Express from $135.00 to $151.00 and gave the stock a “market perform” rating in a report on Monday, July 26th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft increased their price objective on shares of American Express from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, July 26th. The Goldman Sachs Group upgraded shares of American Express from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $185.00 to $225.00 in a report on Tuesday, July 6th. Finally, Oppenheimer reissued a “buy” rating and set a $173.18 target price on shares of American Express in a research report on Sunday, July 25th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $163.15.

In related news, CFO Jeffrey C. Campbell sold 74,677 shares of American Express stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $170.48, for a total transaction of $12,730,934.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marc D. Gordon sold 13,424 shares of American Express 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. Insiders sold 108,726 shares of company stock worth $18,280,773 over the last quarter. 0.20% of the stock is currently owned by company insiders.

Shares of AXP stock traded up $1.49 during mid-day trading on Wednesday, reaching $160.97. 83,043 shares of the company were exchanged, compared to its average volume of 3,501,231. American Express has a fifty-two week low of $89.11 and a fifty-two week high of $179.67. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market capitalization of $127.88 billion, a P/E ratio of 18.54, a P/E/G ratio of 0.90 and a beta of 1.28. The business’s 50 day simple moving average is $166.75 and its 200 day simple moving average is $158.29.

American Express (NYSE:AXP) last posted its earnings results on Thursday, July 22nd. The payment services company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $1.16. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $9.59 billion. American Express had a return on equity of 26.15% and a net margin of 18.72%. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. On average, analysts forecast that American Express will post 8.82 EPS for the current year.

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

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