American Express Company $AXP Shares Bought by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC raised its position in American Express Company (NYSE:AXP) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 31,353 shares of the payment services company’s stock after acquiring an additional 186 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in American Express were worth $10,001,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AXP. Nuveen LLC acquired a new position in shares of American Express during the 1st quarter worth $1,454,667,000. Wellington Management Group LLP lifted its holdings in shares of American Express by 13.7% during the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock worth $4,849,777,000 after acquiring an additional 2,168,445 shares during the period. GAMMA Investing LLC lifted its holdings in shares of American Express by 27,625.2% during the 1st quarter. GAMMA Investing LLC now owns 2,162,846 shares of the payment services company’s stock worth $581,914,000 after acquiring an additional 2,155,045 shares during the period. Goldman Sachs Group Inc. increased its position in American Express by 25.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after purchasing an additional 965,221 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in American Express during the 4th quarter worth approximately $187,337,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on AXP. Citigroup reaffirmed a “neutral” rating and issued a $327.00 price objective (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. Morgan Stanley lifted their price objective on shares of American Express from $250.00 to $311.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, July 21st. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, American Express has a consensus rating of “Hold” and a consensus price target of $315.20.

American Express Stock Up 2.7%

Shares of American Express stock opened at $335.87 on Thursday. The stock has a market capitalization of $233.73 billion, a P/E ratio of 23.57, a PEG ratio of 1.73 and a beta of 1.28. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The stock has a 50 day moving average price of $313.93 and a two-hundred day moving average price of $292.62. American Express Company has a 12-month low of $220.43 and a 12-month high of $337.50.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm had revenue of $17.86 billion during the quarter, compared to analysts’ expectations of $17.70 billion. During the same quarter in the prior year, the business earned $3.49 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. Equities analysts expect that American Express Company will post 15.33 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the sale, the insider directly owned 10,957 shares of the company’s stock, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the transaction, the insider directly owned 20,311 shares of the company’s stock, valued at approximately $6,312,049.47. This trade represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock valued at $85,261,270 in the last ninety days. Company insiders own 0.20% of the company’s stock.

American Express Company Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.