American Express Co. (AXP) Shares Sold by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC decreased its stake in American Express Co. (NYSE:AXP) by 24.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 79,195 shares of the payment services company’s stock after selling 25,092 shares during the period. Janney Montgomery Scott LLC’s holdings in American Express were worth $5,508,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Heritage Investors Management Corp increased its position in shares of American Express by 1.2% in the second quarter. Heritage Investors Management Corp now owns 291,315 shares of the payment services company’s stock valued at $17,700,000 after buying an additional 3,320 shares during the period. Renaissance Technologies LLC bought a new position in shares of American Express during the first quarter valued at about $66,459,000. Nordea Investment Management AB increased its position in shares of American Express by 1.4% in the second quarter. Nordea Investment Management AB now owns 856,480 shares of the payment services company’s stock valued at $52,040,000 after buying an additional 11,499 shares during the period. Kovitz Investment Group Partners LLC bought a new position in shares of American Express during the first quarter valued at about $50,879,000. Finally, Sigma Planning Corp increased its position in shares of American Express by 15.0% in the second quarter. Sigma Planning Corp now owns 5,647 shares of the payment services company’s stock valued at $343,000 after buying an additional 736 shares during the period. Institutional investors own 82.18% of the company’s stock.
American Express Co. (NYSE:AXP) traded down 0.79% on Friday, reaching $64.12. 3,030,648 shares of the company traded hands. American Express Co. has a 1-year low of $50.27 and a 1-year high of $77.85. The stock’s 50-day moving average is $65.08 and its 200-day moving average is $63.31. The stock has a market capitalization of $59.23 billion, a price-to-earnings ratio of 11.34 and a beta of 1.24.
American Express (NYSE:AXP) last posted its quarterly earnings data on Wednesday, July 20th. The payment services company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.95 by $0.15. American Express had a net margin of 16.73% and a return on equity of 28.00%. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.33 billion. During the same quarter in the previous year, the firm posted $1.42 earnings per share. American Express’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts expect that American Express Co. will post $5.52 EPS for the current year.
Several research analysts have recently issued reports on AXP shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $74.00 price target on shares of American Express in a report on Monday, September 12th. Credit Suisse Group AG reissued a “sell” rating and issued a $62.00 price objective on shares of American Express in a research note on Friday, September 16th. Piper Jaffray Cos. reissued a “hold” rating and issued a $71.00 price objective on shares of American Express in a research note on Wednesday, September 7th. JPMorgan Chase & Co. reissued a “hold” rating on shares of American Express in a research note on Thursday, June 30th. Finally, Vetr cut shares of American Express from a “strong-buy” rating to a “buy” rating and set a $67.47 price objective on the stock. in a research note on Monday, July 4th. Seven investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $69.13.
About American Express
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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