Round Hill Asset Management Trims Stock Position in American Express (NYSE:AXP)
Round Hill Asset Management cut its stake in American Express (NYSE:AXP) by 5.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,615 shares of the payment services company’s stock after selling 140 shares during the period. Round Hill Asset Management’s holdings in American Express were worth $323,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. HMS Capital Management LLC purchased a new stake in American Express in the second quarter valued at $37,000. Edge Wealth Management LLC raised its holdings in shares of American Express by 140.3% in the second quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock valued at $46,000 after buying an additional 216 shares during the last quarter. Manchester Financial Inc. purchased a new stake in shares of American Express in the second quarter valued at about $59,000. Coastal Capital Group Inc. purchased a new stake in shares of American Express in the second quarter valued at about $60,000. Finally, Westside Investment Management Inc. purchased a new stake in shares of American Express in the second quarter valued at about $60,000. 83.89% of the stock is owned by hedge funds and other institutional investors.
Shares of American Express stock traded up $1.02 on Thursday, reaching $119.02. 3,733,497 shares of the stock were exchanged, compared to its average volume of 3,397,888. American Express has a 1-year low of $89.05 and a 1-year high of $129.34. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.50. The business has a fifty day moving average price of $122.49 and a two-hundred day moving average price of $118.37. The firm has a market capitalization of $97.90 billion, a PE ratio of 16.24, a PEG ratio of 1.35 and a beta of 1.06.
In other news, CEO Stephen J. Squeri sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 in the company, valued at $23,619,732.97. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 15,455 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $127.06, for a total transaction of $1,963,712.30. Following the transaction, the insider now 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 quarter, insiders have sold 37,500 shares of company stock worth $4,618,653. Company insiders own 0.21% of the company’s stock.
A number of brokerages have recently commented on AXP. Wells Fargo & Co upped their target price on shares of American Express from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. Jefferies Financial Group set a $130.00 target price on shares of American Express and gave the company a “hold” rating in a report on Friday, July 19th. Bank of America began coverage on shares of American Express in a report on Wednesday, June 19th. They issued a “buy” rating and a $145.00 target price for the company. Morgan Stanley set a $142.00 target price on shares of American Express and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada upped their target price on shares of American Express from $120.00 to $125.00 and gave the company a “sector perform” rating in a report on Monday, July 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $124.49.
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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