Profund Advisors LLC Buys 5,350 Shares of American Express (NYSE:AXP)

Profund Advisors LLC grew its stake in American Express (NYSE:AXP) by 28.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 23,986 shares of the payment services company’s stock after purchasing an additional 5,350 shares during the period. Profund Advisors LLC’s holdings in American Express were worth $2,961,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of AXP. HMS Capital Management LLC bought a new stake in shares of American Express during the 2nd quarter worth approximately $37,000. Edge Wealth Management LLC raised its position in American Express by 140.3% during the 2nd quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock valued at $46,000 after purchasing an additional 216 shares in the last quarter. Manchester Financial Inc. bought a new stake in American Express during the 2nd quarter valued at $59,000. Coastal Capital Group Inc. purchased a new position in shares of American Express in the 2nd quarter valued at $60,000. Finally, Westside Investment Management Inc. purchased a new position in shares of American Express in the 2nd quarter valued at $60,000. 83.89% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on AXP shares. Royal Bank of Canada lifted their price target on American Express from $120.00 to $125.00 and gave the company a “sector perform” rating in a report on Monday, July 22nd. They noted that the move was a valuation call. Morgan Stanley set a $142.00 target price on American Express and gave the stock a “buy” rating in a research note on Friday, August 9th. William Blair restated an “outperform” rating on shares of American Express in a research note on Tuesday, June 18th. Jefferies Financial Group set a $130.00 target price on American Express and gave the stock a “hold” rating in a research note on Friday, July 19th. Finally, Wells Fargo & Co boosted their target price on American Express from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $124.49.



In related news, insider Paul D. Fabara sold 15,455 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $127.06, for a total value of $1,963,712.30. Following the completion of the transaction, the insider now owns 35,931 shares of the company’s stock, valued at approximately $4,565,392.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Squeri sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $118.33, for a total value of $1,774,950.00. Following the completion of the transaction, the chief executive officer now directly owns 199,609 shares of the company’s stock, valued at approximately $23,619,732.97. 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 in the last ninety days. 0.21% of the stock is currently owned by insiders.

Shares of AXP stock traded up $0.10 on Friday, hitting $119.12. The company had a trading volume of 176,159 shares, compared to its average volume of 3,461,172. The firm has a market cap of $98.75 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.32 and a beta of 1.06. The company has a 50-day moving average price of $122.49 and a 200-day moving average price of $118.37. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 2.50. American Express has a twelve month low of $89.05 and a twelve month high of $129.34.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.05 by $0.02. The company had revenue of $10.84 billion during the quarter, compared to analysts’ expectations of $10.82 billion. American Express had a return on equity of 29.75% and a net margin of 16.60%. American Express’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.84 EPS. Equities research analysts expect that American Express will post 8.14 EPS for the current year.

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

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