Perennial Investment Advisors LLC reduced its stake in American Express (NYSE:AXP) by 25.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,332 shares of the payment services company’s stock after selling 461 shares during the period. Perennial Investment Advisors LLC’s holdings in American Express were worth $253,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. FDx Advisors Inc. boosted its position in American Express by 15.3% during the fourth quarter. FDx Advisors Inc. now owns 9,489 shares of the payment services company’s stock worth $1,552,000 after purchasing an additional 1,256 shares in the last quarter. Summit Global Investments lifted its stake in shares of American Express by 421.5% in the first quarter. Summit Global Investments now owns 8,522 shares of the payment services company’s stock worth $1,594,000 after acquiring an additional 6,888 shares in the last quarter. 1900 Wealth Management LLC raised its stake in shares of American Express by 5.1% in the 1st quarter. 1900 Wealth Management LLC now owns 2,268 shares of the payment services company’s stock valued at $424,000 after purchasing an additional 111 shares in the last quarter. Global Trust Asset Management LLC boosted its holdings in American Express by 50.4% in the first quarter. Global Trust Asset Management LLC now owns 1,444 shares of the payment services company’s stock worth $270,000 after purchasing an additional 484 shares during the period. Finally, Round Rock Advisors LLC acquired a new position in shares of American Express in the 1st quarter valued at about $318,000. Hedge funds and other institutional investors own 85.49% of the company’s stock.
In related news, Director Theodore Leonsis sold 4,005 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $166.63, for a total value of $667,353.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.
American Express Trading Up 0.4 %
American Express (NYSE:AXP – Get Rating) last released its earnings results on Friday, July 22nd. The payment services company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.16. The business had revenue of $13.40 billion during the quarter, compared to the consensus estimate of $12.54 billion. American Express had a return on equity of 32.81% and a net margin of 15.69%. The business’s revenue for the quarter was up 30.8% on a year-over-year basis. During the same period last year, the business posted $2.80 earnings per share. Equities research analysts predict that American Express will post 9.74 EPS for the current year.
Analyst Ratings Changes
AXP has been the topic of a number of research analyst reports. Edward Jones raised American Express from a “hold” rating to a “buy” rating in a report on Monday, June 6th. Royal Bank of Canada raised their target price on shares of American Express from $195.00 to $200.00 and gave the stock a “sector perform” rating in a report on Monday, April 25th. Wolfe Research lowered American Express from an “outperform” rating to a “peer perform” rating and dropped their price target for the company from $213.00 to $146.00 in a research report on Thursday, May 12th. Oppenheimer set a $184.00 target price on shares of American Express in a research note on Tuesday, July 19th. Finally, Robert W. Baird raised shares of American Express from a “neutral” rating to an “outperform” rating and set a $175.00 price objective on the stock in a research report on Friday, June 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $181.53.
American Express Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
- Get a free copy of the StockNews.com research report on American Express (AXP)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
- Why Apple Could Be At All-Time Highs By Year End
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.