World Asset Management Inc Reduces Stock Position in American Express (NYSE:AXP)

World Asset Management Inc reduced its position in shares of American Express (NYSE:AXP) by 5.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,206 shares of the payment services company’s stock after selling 1,272 shares during the period. World Asset Management Inc’s holdings in American Express were worth $3,339,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in American Express by 30.1% in the first quarter. Envestnet Asset Management Inc. now owns 363,030 shares of the payment services company’s stock worth $51,347,000 after buying an additional 84,024 shares during the period. Total Clarity Wealth Management Inc. purchased a new position in shares of American Express during the first quarter valued at approximately $96,000. Ausdal Financial Partners Inc. purchased a new position in shares of American Express during the first quarter valued at approximately $276,000. Wade G W & Inc. lifted its holdings in shares of American Express by 36.8% during the first quarter. Wade G W & Inc. now owns 6,763 shares of the payment services company’s stock valued at $957,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Cadence Bank NA lifted its holdings in shares of American Express by 45.2% during the first quarter. Cadence Bank NA now owns 2,601 shares of the payment services company’s stock valued at $368,000 after purchasing an additional 810 shares during the last quarter. Institutional investors own 84.62% of the company’s stock.

AXP stock traded up $1.49 during mid-day trading on Wednesday, hitting $160.97. The company had a trading volume of 83,043 shares, compared to its average volume of 3,501,231. The company has a market capitalization of $127.88 billion, a price-to-earnings ratio of 18.54, a P/E/G ratio of 0.90 and a beta of 1.28. American Express has a 12-month low of $89.11 and a 12-month high of $179.67. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.46. The company has a 50-day moving average price of $166.75 and a 200 day moving average price of $158.29.

American Express (NYSE:AXP) last posted its earnings results on Thursday, July 22nd. The payment services company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $1.16. American Express had a net margin of 18.72% and a return on equity of 26.15%. The firm had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.59 billion. During the same period in the previous year, the firm posted $0.29 EPS. The business’s quarterly revenue was up 33.5% on a year-over-year basis. As a group, analysts expect that American Express will post 8.82 EPS for the current year.

Several equities research analysts recently weighed in on AXP shares. Credit Suisse Group reissued an “underperform” rating and set a $173.92 price target (up previously from $135.00) on shares of American Express in a research report on Monday, July 26th. Deutsche Bank Aktiengesellschaft raised their price target on shares of American Express from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, July 26th. Royal Bank of Canada lifted their target price on shares of American Express from $174.00 to $185.00 and gave the stock a “sector perform” rating in a research report on Monday, July 26th. DZ Bank downgraded shares of American Express from a “buy” rating to a “hold” rating and set a $170.00 target price for the company. in a research report on Thursday, June 17th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $173.18 target price on shares of American Express in a research report on Sunday, July 25th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $163.15.

In other American Express news, CFO Jeffrey C. Campbell sold 74,677 shares of the company’s stock in a transaction dated Monday, August 2nd. The shares were sold at an average price of $170.48, for a total value of $12,730,934.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Marc D. Gordon sold 13,424 shares of the company’s stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $159.24, for a total transaction of $2,137,637.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 108,726 shares of company stock worth $18,280,773. Insiders own 0.20% of the company’s stock.

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

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