American Express (NYSE:AXP) Shares Sold by Titus Wealth Management

Titus Wealth Management lessened its position in American Express (NYSE:AXP) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,729 shares of the payment services company’s stock after selling 86 shares during the period. Titus Wealth Management’s holdings in American Express were worth $337,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AXP. Magellan Asset Management Ltd grew its holdings in American Express by 212,845.6% in the second quarter. Magellan Asset Management Ltd now owns 9,580,424 shares of the payment services company’s stock valued at $1,182,608,000 after purchasing an additional 9,575,925 shares during the period. Nuveen Asset Management LLC grew its holdings in American Express by 1,759.0% in the second quarter. Nuveen Asset Management LLC now owns 6,961,641 shares of the payment services company’s stock valued at $859,345,000 after purchasing an additional 6,587,148 shares during the period. FMR LLC grew its holdings in American Express by 6.9% in the first quarter. FMR LLC now owns 26,274,516 shares of the payment services company’s stock valued at $2,871,804,000 after purchasing an additional 1,690,676 shares during the period. Egerton Capital UK LLP grew its holdings 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 purchasing an additional 1,452,890 shares during the period. Finally, Morgan Stanley grew its holdings in American Express by 16.2% in the second quarter. Morgan Stanley now owns 5,253,506 shares of the payment services company’s stock valued at $648,492,000 after purchasing an additional 731,450 shares during the period. 83.86% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently issued reports on AXP. Jefferies Financial Group set a $130.00 target price on shares of American Express and gave the company a “hold” rating in a report on Friday, July 19th. Royal Bank of Canada boosted their target price on shares of 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. JPMorgan Chase & Co. lowered their target price on shares of American Express from $135.00 to $132.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. William Blair restated an “outperform” rating on shares of American Express in a report on Tuesday, June 18th. Finally, ValuEngine downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $124.49.



AXP traded up $0.95 during trading on Wednesday, hitting $119.12. 2,741,595 shares of the company’s stock were exchanged, compared to its average volume of 3,419,597. 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 has a 1 year low of $89.05 and a 1 year high of $129.34. The stock has a 50 day moving average price of $120.59 and a 200 day moving average price of $118.96. The firm has a market cap of $96.91 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 1.41 and a beta of 1.06.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, July 19th. The payment services company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.02. American Express had a net margin of 16.60% and a return on equity of 29.75%. The company had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.82 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. American Express’s revenue for the quarter was up 8.4% on a year-over-year basis. Analysts forecast that American Express will post 8.14 earnings per share for the current fiscal year.

The firm also recently disclosed a 0.39000 dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.43 per share. The ex-dividend date is Thursday, October 3rd. This represents a yield of 1.3%. American Express’s dividend payout ratio is currently 21.28%.

In other news, CFO Jeffrey C. Campbell sold 7,045 shares of the business’s 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 transaction, the chief financial officer now directly owns 59,620 shares of the company’s stock, valued at $7,447,134.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 15,455 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 35,931 shares in the company, valued at $4,565,392.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,500 shares of company stock valued at $4,618,653. 0.21% of the stock is owned by insiders.

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.

Read More: Initial Public Offering (IPO)

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

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.