FormulaFolio Investments LLC acquired a new stake in shares of American Express (NYSE:AXP) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,904 shares of the payment services company’s stock, valued at approximately $276,000.

Several other institutional investors have also recently made changes to their positions in the company. Griffin Asset Management Inc. increased its position in shares of American Express by 0.5% during the 2nd quarter. Griffin Asset Management Inc. now owns 63,981 shares of the payment services company’s stock valued at $6,091,000 after purchasing an additional 346 shares during the last quarter. Levin Capital Strategies L.P. increased its position in shares of American Express by 11.0% during the 2nd quarter. Levin Capital Strategies L.P. now owns 10,064 shares of the payment services company’s stock valued at $958,000 after purchasing an additional 1,000 shares during the last quarter. Northern Oak Wealth Management Inc. increased its position in shares of American Express by 1.7% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 51,410 shares of the payment services company’s stock valued at $4,894,000 after purchasing an additional 843 shares during the last quarter. Amussen Hunsaker Associates LLC increased its position in shares of American Express by 4.4% during the 2nd quarter. Amussen Hunsaker Associates LLC now owns 116,630 shares of the payment services company’s stock valued at $11,111,000 after purchasing an additional 4,880 shares during the last quarter. Finally, MidWestOne Financial Group Inc. bought a new position in shares of American Express during the 2nd quarter valued at about $212,000. Hedge funds and other institutional investors own 84.14% of the company’s stock.

Several brokerages have recently commented on AXP. Royal Bank of Canada increased their price objective on 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 raised their price target on American Express from $90.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, June 10th. Wolfe Research initiated coverage on American Express in a research report on Friday, July 31st. They set an “outperform” rating on the stock. JPMorgan Chase & Co. lowered American Express from a “neutral” rating to an “underweight” rating and set a $97.00 price target on the stock. in a research report on Wednesday, July 15th. Finally, UBS Group lowered American Express from a “neutral” rating to a “sell” rating and set a $92.00 price target on the stock. in a research report on Monday, June 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company. American Express presently has an average rating of “Hold” and an average price target of $106.75.

In other American Express news, insider Denise Pickett sold 2,864 shares of American Express stock in a transaction 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 completion of the transaction, the insider now owns 10,202 shares in the company, valued at $985,717.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Shares of AXP traded down $0.44 on Wednesday, reaching $106.24. The stock had a trading volume of 118,729 shares, compared to its average volume of 3,529,964. The firm has a market capitalization of $85.89 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 2.66 and a beta of 1.15. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.56 and a current ratio of 1.56. The company has a 50-day simple moving average of $99.86 and a 200-day simple moving average of $94.89. American Express has a 12-month low of $67.00 and a 12-month high of $138.13.

American Express (NYSE:AXP) last released its 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 company had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $8.25 billion. American Express had a return on equity of 24.08% and a net margin of 10.02%. The firm’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 EPS. On average, analysts expect that American Express will post 4.52 EPS for the current fiscal year.

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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