American Express (NYSE:AXP) Shares Bought by Institute for Wealth Management LLC.

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Institute for Wealth Management LLC. increased its stake in American Express (NYSE:AXP) by 10.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,460 shares of the payment services company’s stock after acquiring an additional 1,173 shares during the period. Institute for Wealth Management LLC.’s holdings in American Express were worth $1,538,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its position in American Express by 6.9% in the 1st quarter. FMR LLC now owns 26,274,516 shares of the payment services company’s stock worth $2,871,804,000 after buying an additional 1,690,676 shares in the last quarter. Egerton Capital UK LLP lifted its position in American Express by 18.4% in the 1st quarter. Egerton Capital UK LLP now owns 9,368,737 shares of the payment services company’s stock worth $1,024,003,000 after buying an additional 1,452,890 shares in the last quarter. Findlay Park Partners LLP lifted its position in American Express by 24.8% in the 1st quarter. Findlay Park Partners LLP now owns 3,367,074 shares of the payment services company’s stock worth $368,021,000 after buying an additional 669,053 shares in the last quarter. Capital Wealth Planning LLC lifted its position in American Express by 3,750.4% in the 2nd quarter. Capital Wealth Planning LLC now owns 494,394 shares of the payment services company’s stock worth $61,028,000 after buying an additional 481,554 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in American Express by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 8,486,121 shares of the payment services company’s stock worth $807,358,000 after buying an additional 459,983 shares in the last quarter. Institutional investors and hedge funds own 84.26% of the company’s stock.

AXP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of American Express from $135.00 to $132.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. ValuEngine downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. UBS Group downgraded shares of American Express from a “buy” rating to a “neutral” rating and set a $117.60 price target on the stock. in a report on Monday, April 29th. Morgan Stanley set a $142.00 price target on shares of American Express and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada raised their price target 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 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 currently has a consensus rating of “Hold” and a consensus price target of $124.49.

In related news, insider Laureen Seeger sold 44,584 shares of American Express stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $119.25, for a total value of $5,316,642.00. Following the transaction, the insider now owns 80,375 shares in the company, valued at approximately $9,584,718.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Stephen J. Squeri sold 15,000 shares of American Express stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $114.69, for a total transaction of $1,720,350.00. Following the completion of the transaction, the chairman now owns 214,815 shares in the company, valued at approximately $24,637,132.35. The disclosure for this sale can be found here. Insiders sold a total of 190,548 shares of company stock worth $22,910,322 in the last quarter. Insiders own 0.21% of the company’s stock.

Shares of American Express stock traded up $2.25 during midday trading on Friday, reaching $124.63. 2,211,100 shares of the company’s stock traded hands, compared to its average volume of 3,702,424. The company has a market cap of $101.54 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05. The company’s 50 day simple moving average is $125.56 and its 200 day simple moving average is $116.63. 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 52 week low of $89.05 and a 52 week high of $129.34.

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

American Express Company 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 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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