Dai Ichi Life Insurance Company Ltd decreased its position in shares of American Express (NYSE:AXP) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,834 shares of the payment services company’s stock after selling 1,515 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in American Express were worth $6,839,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in AXP. Joseph P. Lucia & Associates LLC lifted its position in shares of American Express by 163.6% during the 2nd quarter. Joseph P. Lucia & Associates LLC now owns 282 shares of the payment services company’s stock worth $27,000 after purchasing an additional 175 shares during the last quarter. Smith Asset Management Group LP increased its position in American Express by 171.2% in the 1st quarter. Smith Asset Management Group LP now owns 339 shares of the payment services company’s stock worth $29,000 after buying an additional 214 shares during the period. Bay Harbor Wealth Management LLC lifted its holdings in shares of American Express by 28.6% during the second quarter. Bay Harbor Wealth Management LLC now owns 481 shares of the payment services company’s stock worth $46,000 after buying an additional 107 shares during the last quarter. Evolution Wealth Advisors LLC bought a new stake in shares of American Express in the second quarter valued at approximately $58,000. Finally, Keebeck Wealth Management LLC acquired a new stake in shares of American Express in the second quarter worth $59,000. 84.14% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Denise Pickett sold 2,864 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $96.62, for a total transaction of $276,719.68. Following the sale, the insider now directly owns 10,202 shares in the company, valued at approximately $985,717.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.
Shares of AXP traded down $0.42 during trading hours on Monday, hitting $102.12. The stock had a trading volume of 98,185 shares, compared to its average volume of 5,745,531. The stock has a market capitalization of $82.56 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 2.54 and a beta of 1.09. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.56 and a quick ratio of 1.56. The company’s fifty day moving average is $96.57 and its two-hundred day moving average is $97.55. American Express has a 52 week low of $67.00 and a 52 week high of $138.13.
American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 24th. The payment services company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.16. The firm had revenue of $7.68 billion for the quarter, compared to analyst estimates of $8.25 billion. American Express had a net margin of 10.02% and a return on equity of 24.08%. The company’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 earnings per share. Equities analysts predict that American Express will post 4.52 EPS for the current fiscal year.
Several equities analysts recently commented on the stock. UBS Group cut shares of American Express from a “neutral” rating to a “sell” rating and set a $92.00 target price for the company. in a research note on Monday, June 22nd. Royal Bank of Canada upped their price objective on shares of American Express from $85.00 to $105.00 and gave the company a “sector perform” rating in a research report on Thursday, June 4th. Jefferies Financial Group increased their target price on shares of American Express from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, June 10th. Compass Point boosted their price target on American Express from $78.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Finally, BMO Capital Markets upped their price target on American Express from $96.00 to $100.00 in a report on Monday, July 27th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $106.71.
About American Express
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.
See Also: What is the market perform rating?
Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades 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.
