Bridgewater Associates LP lessened its holdings in American Express (NYSE:AXP) by 59.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,241 shares of the payment services company’s stock after selling 16,189 shares during the period. Bridgewater Associates LP’s holdings in American Express were worth $1,102,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of American Express by 1.4% in the 2nd quarter. BlackRock Inc. now owns 44,131,020 shares of the payment services company’s stock worth $4,324,840,000 after buying an additional 626,323 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of American Express by 3.7% in the 2nd quarter. Fisher Asset Management LLC now owns 10,110,872 shares of the payment services company’s stock worth $990,866,000 after buying an additional 360,596 shares during the last quarter. FMR LLC boosted its stake in shares of American Express by 969.9% in the 2nd quarter. FMR LLC now owns 9,585,669 shares of the payment services company’s stock worth $939,396,000 after buying an additional 8,689,714 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of American Express by 5.4% in the 2nd quarter. American Century Companies Inc. now owns 5,522,458 shares of the payment services company’s stock worth $541,201,000 after buying an additional 282,496 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its stake in shares of American Express by 3.7% in the 1st quarter. Artisan Partners Limited Partnership now owns 4,964,107 shares of the payment services company’s stock worth $463,052,000 after buying an additional 177,519 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

NYSE:AXP opened at $106.08 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 2.67. The company has a market capitalization of $90.76 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.42 and a beta of 1.17. American Express has a 12 month low of $84.02 and a 12 month high of $107.43.

American Express (NYSE:AXP) last issued its earnings results on Wednesday, July 18th. The payment services company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.01. American Express had a net margin of 9.23% and a return on equity of 30.08%. The business had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.05 billion. During the same quarter in the previous year, the firm posted $1.47 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. sell-side analysts expect that American Express will post 7.23 EPS for the current year.

American Express announced that its Board of Directors has initiated a share repurchase plan on Thursday, June 28th that allows the company to buyback $3.40 billion in outstanding shares. This buyback authorization allows the payment services company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other American Express news, CFO Jeffrey C. Campbell sold 9,000 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $99.73, for a total transaction of $897,570.00. Following the sale, the chief financial officer now owns 66,568 shares of the company’s stock, valued at approximately $6,638,826.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Scott Murcray bought 350,000 shares of the stock in a transaction on Monday, September 3rd. The shares were acquired at an average cost of $0.28 per share, for a total transaction of $98,000.00. The disclosure for this purchase can be found here. Insiders own 0.20% of the company’s stock.

A number of equities analysts have recently weighed in on AXP shares. Oppenheimer set a $113.00 target price on American Express and gave the stock a “buy” rating in a research note on Wednesday, July 18th. Jefferies Financial Group restated a “hold” rating and issued a $105.00 target price on shares of American Express in a research note on Monday, July 16th. Buckingham Research upgraded American Express from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $111.00 to $112.00 in a research note on Friday, June 29th. UBS Group upgraded American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Finally, Royal Bank of Canada reaffirmed a “sell” rating and issued a $87.00 price target on shares of American Express in a report on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $108.83.

American Express Profile

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 four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

Read More: Discover Your Risk Tolerance

Institutional Ownership by Quarter 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.