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

Profund Advisors LLC raised its stake in American Express (NYSE:AXP) by 28.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 23,986 shares of the payment services company’s stock after purchasing an additional 5,350 shares during the quarter. Profund Advisors LLC’s holdings in American Express were worth $2,961,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Laurel Wealth Advisors Inc. grew its stake in American Express by 2.0% in the first quarter. Laurel Wealth Advisors Inc. now owns 4,192 shares of the payment services company’s stock worth $458,000 after purchasing an additional 84 shares during the period. Welch Group LLC grew its stake in American Express by 2.2% in the second quarter. Welch Group LLC now owns 3,855 shares of the payment services company’s stock worth $476,000 after purchasing an additional 84 shares during the period. Papp L Roy & Associates grew its stake in American Express by 1.3% in the first quarter. Papp L Roy & Associates now owns 6,750 shares of the payment services company’s stock worth $738,000 after purchasing an additional 86 shares during the period. Signaturefd LLC grew its stake in American Express by 2.0% in the second quarter. Signaturefd LLC now owns 4,492 shares of the payment services company’s stock worth $554,000 after purchasing an additional 88 shares during the period. Finally, Brandywine Oak Private Wealth LLC grew its stake in American Express by 3.8% in the first quarter. Brandywine Oak Private Wealth LLC now owns 2,654 shares of the payment services company’s stock worth $290,000 after purchasing an additional 97 shares during the period. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Several equities research analysts recently weighed in on AXP shares. JPMorgan Chase & Co. reduced their price target on American Express from $135.00 to $132.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada increased their target price on American Express from $120.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. ValuEngine cut American Express from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. BMO Capital Markets increased their target price on American Express to $119.00 and gave the stock a “market perform” rating in a research note on Monday, July 22nd. Finally, 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. 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 company’s stock. The stock presently has an average rating of “Hold” and an average target price of $124.49.

Shares of NYSE:AXP traded up $0.10 during midday trading on Friday, reaching $119.12. 176,159 shares of the company’s stock traded hands, compared to its average volume of 3,461,172. The company has a market cap of $98.75 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 1.32 and a beta of 1.06. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.84 and a current ratio of 1.84. American Express has a one year low of $89.05 and a one year high of $129.34. The stock has a 50 day moving average of $122.49 and a 200 day moving average of $118.37.

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

In other news, CEO Stephen J. Squeri sold 15,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $118.33, for a total transaction of $1,774,950.00. Following the transaction, the chief executive officer now directly owns 199,609 shares of the company’s stock, valued at $23,619,732.97. The sale 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 company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $127.06, for a total value 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 ninety days, insiders have sold 37,500 shares of company stock worth $4,618,653. Corporate insiders own 0.21% of the company’s stock.

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.

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

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