Atom Investors LP grew its stake in shares of American Express (NYSE:AXP) by 274.4% during the second quarter, Holdings Channel reports. The firm owned 42,305 shares of the payment services company’s stock after purchasing an additional 31,005 shares during the period. Atom Investors LP’s holdings in American Express were worth $4,027,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Joseph P. Lucia & Associates LLC boosted its holdings in shares of American Express by 163.6% in the 2nd quarter. Joseph P. Lucia & Associates LLC now owns 282 shares of the payment services company’s stock valued at $27,000 after buying an additional 175 shares in the last quarter. Smith Asset Management Group LP grew its holdings in shares of American Express by 171.2% during the first quarter. Smith Asset Management Group LP now owns 339 shares of the payment services company’s stock worth $29,000 after purchasing an additional 214 shares during the last quarter. Bay Harbor Wealth Management LLC increased its position in shares of American Express by 28.6% during the second quarter. Bay Harbor Wealth Management LLC now owns 481 shares of the payment services company’s stock worth $46,000 after purchasing an additional 107 shares in the last quarter. Evolution Wealth Advisors LLC purchased a new stake in shares of American Express in the 2nd quarter valued at about $58,000. Finally, Keebeck Wealth Management LLC acquired a new stake in shares of American Express in the 2nd quarter valued at about $59,000. 84.14% of the stock is currently owned by institutional investors.
Shares of NYSE:AXP traded up $1.21 during trading on Friday, hitting $105.67. 5,234,900 shares of the stock were exchanged, compared to its average volume of 3,983,221. The company has a market cap of $85.08 billion, a PE ratio of 21.97, a P/E/G ratio of 2.62 and a beta of 1.15. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 2.32. The company has a fifty day moving average price of $97.91 and a two-hundred day moving average price of $96.49. American Express has a 12-month low of $67.00 and a 12-month high of $138.13.
American Express (NYSE:AXP) last posted its earnings results on Friday, July 24th. The payment services company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.16. American Express had a return on equity of 24.08% and a net margin of 10.02%. The company had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the previous year, the business earned $2.07 earnings per share. American Express’s quarterly revenue was down 29.2% compared to the same quarter last year. Equities research analysts anticipate that American Express will post 4.52 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on AXP shares. JPMorgan Chase & Co. lowered shares of American Express from a “neutral” rating to an “underweight” rating and set a $97.00 target price on the stock. in a research report on Wednesday, July 15th. Deutsche Bank dropped their price objective on shares of American Express from $108.00 to $106.00 and set a “buy” rating on the stock in a research note on Monday, July 27th. Atlantic Securities cut shares of American Express from an “overweight” rating to a “neutral” rating and set a $110.00 target price for the company. in a report on Monday, June 8th. Bank of America lowered their price target on American Express from $106.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday, July 27th. Finally, Compass Point upped their price objective on American Express from $78.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company’s stock. American Express has an average rating of “Hold” and an average target price of $106.71.
In other American Express news, insider Denise Pickett sold 2,864 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $96.62, for a total transaction of $276,719.68. Following the completion of the transaction, the insider now directly owns 10,202 shares in the company, valued at approximately $985,717.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.
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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