Moneta Group Investment Advisors LLC Lowers Holdings in American Express (NYSE:AXP)

Moneta Group Investment Advisors LLC lowered its stake in shares of American Express (NYSE:AXP) by 88.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 747 shares of the payment services company’s stock after selling 5,456 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in American Express were worth $734,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AXP. FMR LLC raised its holdings in shares of American Express by 6.9% during the 1st quarter. FMR LLC now owns 26,274,516 shares of the payment services company’s stock valued at $2,871,804,000 after buying an additional 1,690,676 shares during the period. Fisher Asset Management LLC lifted its position in American Express by 3.5% during the 2nd quarter. Fisher Asset Management LLC now owns 11,352,692 shares of the payment services company’s stock worth $1,401,376,000 after acquiring an additional 381,084 shares in the last quarter. Magellan Asset Management Ltd boosted its holdings in American Express by 212,845.6% in the 2nd quarter. Magellan Asset Management Ltd now owns 9,580,424 shares of the payment services company’s stock worth $1,182,608,000 after acquiring an additional 9,575,925 shares during the period. Egerton Capital UK LLP grew its position in American Express by 18.4% in the first quarter. Egerton Capital UK LLP now owns 9,368,737 shares of the payment services company’s stock valued at $1,024,003,000 after acquiring an additional 1,452,890 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in American Express by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 8,486,121 shares of the payment services company’s stock valued at $807,358,000 after acquiring an additional 459,983 shares in the last quarter. 83.89% of the stock is owned by institutional investors.

In other American Express news, CFO Jeffrey C. Campbell sold 7,045 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $124.91, for a total transaction of $879,990.95. Following the sale, the chief financial officer now directly owns 59,620 shares of the company’s stock, valued at $7,447,134.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 15,455 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $127.06, for a total transaction of $1,963,712.30. Following the completion of the transaction, the insider now owns 35,931 shares in the company, valued at $4,565,392.86. The disclosure for this sale can be found here. Insiders sold a total of 37,500 shares of company stock valued at $4,618,653 over the last quarter. Company insiders own 0.21% of the company’s stock.



A number of research analysts have recently commented on the stock. ValuEngine cut shares of American Express from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Jefferies Financial Group set a $130.00 price objective on shares of American Express and gave the stock a “hold” rating in a report on Friday, July 19th. Morgan Stanley set a $142.00 price objective on shares of American Express and gave the stock a “buy” rating in a report on Friday, August 9th. Stephens set a $131.00 price objective on shares of American Express and gave the company a “buy” rating in a research report on Monday, May 20th. Finally, Royal Bank of Canada raised their target price on American Express from $120.00 to $125.00 and gave the company a “sector perform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $124.49.

AXP stock traded up $0.36 during mid-day trading on Wednesday, hitting $117.67. 2,089,895 shares of the company were exchanged, compared to its average volume of 3,312,001. The firm has a fifty day simple moving average of $122.70 and a 200 day simple moving average of $118.32. The company has a market capitalization of $97.33 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.35 and a beta of 1.06. American Express has a twelve month low of $89.05 and a twelve month high of $129.34. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.50.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.02. American Express had a net margin of 16.60% and a return on equity of 29.75%. The business had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.82 billion. During the same quarter in the prior year, the business posted $1.84 EPS. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that American Express will post 8.14 earnings per share for the current year.

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

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