Alhambra Investment Management LLC Acquires 424 Shares of American Express Company $AXP

Alhambra Investment Management LLC grew its holdings in shares of American Express Company (NYSE:AXP) by 11.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,275 shares of the payment services company’s stock after acquiring an additional 424 shares during the period. Alhambra Investment Management LLC’s holdings in American Express were worth $1,364,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Capital Asset Advisory Services LLC raised its stake in shares of American Express by 2.8% during the second quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock valued at $384,000 after acquiring an additional 32 shares during the last quarter. DLK Investment Management LLC increased its position in shares of American Express by 3.8% during the second quarter. DLK Investment Management LLC now owns 869 shares of the payment services company’s stock worth $277,000 after buying an additional 32 shares during the period. Financial Engines Advisors L.L.C. raised its stake in American Express by 4.7% during the first quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company’s stock worth $208,000 after buying an additional 35 shares during the last quarter. Modern Wealth Management LLC raised its stake in American Express by 0.7% during the first quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company’s stock worth $1,324,000 after buying an additional 35 shares during the last quarter. Finally, Greenfield Savings Bank raised its stake in American Express by 0.3% during the second quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company’s stock worth $4,184,000 after buying an additional 35 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AXP. Wells Fargo & Company lifted their target price on shares of American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. William Blair reissued an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a research note on Monday, July 14th. DZ Bank downgraded shares of American Express from a “hold” rating to a “sell” rating in a research note on Monday, July 21st. Finally, BTIG Research set a $277.00 target price on shares of American Express and gave the stock a “sell” rating in a research note 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $315.20.

American Express Trading Up 0.2%

NYSE:AXP opened at $341.74 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. The firm has a 50-day moving average of $315.72 and a 200-day moving average of $294.34. The company has a market cap of $237.81 billion, a PE ratio of 23.98, a PEG ratio of 1.81 and a beta of 1.28. American Express Company has a one year low of $220.43 and a one year high of $349.19.

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

Insider Transactions at American Express

In other American Express news, insider Laureen Seeger sold 61,721 shares of the business’s stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total value of $18,360,145.87. Following the transaction, the insider directly owned 9,001 shares in the company, valued at $2,677,527.47. The trade was a 87.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anna Marrs sold 5,500 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the transaction, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. The trade was a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 269,996 shares of company stock valued at $85,261,270. Corporate insiders own 0.20% of the company’s stock.

American Express 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.