Miracle Mile Advisors LLC Decreases Stock Position in American Express (NYSE:AXP)

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Miracle Mile Advisors LLC lessened its holdings in shares of American Express (NYSE:AXP) by 2.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,000 shares of the payment services company’s stock after selling 1,000 shares during the period. Miracle Mile Advisors LLC’s holdings in American Express were worth $4,567,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Camarda Financial Advisors LLC purchased a new position in American Express during the 1st quarter valued at about $26,000. HMS Capital Management LLC bought a new stake in American Express during the 2nd quarter valued at approximately $37,000. Edge Wealth Management LLC boosted its position in American Express by 140.3% during the 2nd quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock valued at $46,000 after acquiring an additional 216 shares in the last quarter. Enterprise Financial Services Corp boosted its position in American Express by 24.8% during the 1st quarter. Enterprise Financial Services Corp now owns 473 shares of the payment services company’s stock valued at $51,000 after acquiring an additional 94 shares in the last quarter. Finally, Manchester Financial Inc. bought a new stake in American Express during the 2nd quarter valued at approximately $59,000. Institutional investors own 83.96% of the company’s stock.

Shares of AXP traded down $1.19 during mid-day trading on Tuesday, reaching $117.34. The company had a trading volume of 223,195 shares, compared to its average volume of 3,307,562. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a 50-day moving average price of $124.84 and a 200 day moving average price of $117.32. American Express has a 52 week low of $89.05 and a 52 week high of $129.34. The company has a market capitalization of $97.70 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.32 and a beta of 1.05.

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

In other news, CFO Jeffrey C. Campbell sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $122.93, for a total value of $799,045.00. Following the sale, the chief financial officer now directly owns 68,379 shares of the company’s stock, valued at approximately $8,405,830.47. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey C. Campbell sold 7,045 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $124.91, for a total value of $879,990.95. Following the completion of the sale, the chief financial officer now directly owns 59,620 shares in the company, valued at $7,447,134.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,000 shares of company stock worth $5,363,098. Insiders own 0.21% of the company’s stock.

Several analysts have weighed in on AXP shares. JPMorgan Chase & Co. cut their price objective on American Express from $135.00 to $132.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Morgan Stanley set a $142.00 price objective on American Express and gave the company a “buy” rating in a research report on Friday, August 9th. Royal Bank of Canada lifted their price objective on American Express from $120.00 to $125.00 and gave the company a “sector perform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. ValuEngine cut American Express from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets lifted their price objective on American Express to $119.00 and gave the company a “market perform” rating in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. American Express has an average rating of “Hold” and an average target price of $124.49.

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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