Skandinaviska Enskilda Banken AB publ lowered its holdings in American Express (NYSE:AXP) by 4.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 126,193 shares of the payment services company’s stock after selling 6,488 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in American Express were worth $20,851,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geo Capital Gestora de Recursos Ltd increased its holdings in shares of American Express by 92.6% in the 1st quarter. Geo Capital Gestora de Recursos Ltd now owns 208 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. Cowen Prime Advisors LLC acquired a new stake in American Express during the 2nd quarter worth approximately $33,000. Mark Sheptoff Financial Planning LLC acquired a new stake in American Express during the 1st quarter worth approximately $35,000. Burleson & Company LLC acquired a new stake in American Express during the 1st quarter worth approximately $37,000. Finally, Cranbrook Wealth Management LLC lifted its position in American Express by 192.5% during the 1st quarter. Cranbrook Wealth Management LLC now owns 272 shares of the payment services company’s stock worth $38,000 after acquiring an additional 179 shares during the period. Institutional investors and hedge funds own 84.62% of the company’s stock.
In other news, insider Marc D. Gordon sold 13,424 shares of American Express stock in a transaction on Friday, September 10th. The stock was sold at an average price of $159.24, for a total value of $2,137,637.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey C. Campbell sold 74,677 shares of American Express stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $170.48, for a total value of $12,730,934.96. The disclosure for this sale can be found here. Insiders have sold 108,726 shares of company stock valued at $18,280,773 in the last three months. 0.20% of the stock is currently owned by company insiders.
American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, July 22nd. The payment services company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $1.64 by $1.16. The company had revenue of $10.24 billion during the quarter, compared to the consensus estimate of $9.59 billion. American Express had a return on equity of 26.15% and a net margin of 18.72%. American Express’s revenue was up 33.5% compared to the same quarter last year. During the same quarter 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 fiscal year.
A number of research firms have weighed in on AXP. Seaport Global Securities began coverage on American Express in a research report on Monday, August 30th. They set a “neutral” rating for the company. began coverage on American Express in a research report on Friday, July 9th. They set a “hold” rating and a $183.00 price objective for the company. Stephens reaffirmed an “equal weight” rating and set a $173.00 price objective (up from $158.00) on shares of American Express in a research report on Monday, July 26th. Royal Bank of Canada raised their price target on American Express from $174.00 to $185.00 and gave the company a “sector perform” rating in a report on Monday, July 26th. Finally, started coverage on American Express in a report on Friday, July 9th. They issued a “neutral” rating and a $183.00 price target for the company. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $163.15.
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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