Point View Wealth Management Inc. Reduces Position in American Express (NYSE:AXP)

Point View Wealth Management Inc. lessened its stake in shares of American Express (NYSE:AXP) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,936 shares of the payment services company’s stock after selling 126 shares during the quarter. Point View Wealth Management Inc.’s holdings in American Express were worth $733,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Laurel Wealth Advisors Inc. lifted its stake in American Express by 2.0% in the first quarter. Laurel Wealth Advisors Inc. now owns 4,192 shares of the payment services company’s stock worth $458,000 after acquiring an additional 84 shares during the period. Welch Group LLC lifted its stake in American Express by 2.2% in the second quarter. Welch Group LLC now owns 3,855 shares of the payment services company’s stock worth $476,000 after acquiring an additional 84 shares during the period. Papp L Roy & Associates lifted its stake in American Express by 1.3% in the first quarter. Papp L Roy & Associates now owns 6,750 shares of the payment services company’s stock worth $738,000 after acquiring an additional 86 shares during the period. Enterprise Financial Services Corp lifted its stake in American Express by 24.8% in the first quarter. Enterprise Financial Services Corp now owns 473 shares of the payment services company’s stock worth $51,000 after acquiring an additional 94 shares during the period. Finally, Brandywine Oak Private Wealth LLC lifted its stake in American Express by 3.8% in the first quarter. Brandywine Oak Private Wealth LLC now owns 2,654 shares of the payment services company’s stock worth $290,000 after acquiring an additional 97 shares during the period. 84.02% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Jeffrey C. Campbell sold 6,500 shares of American Express stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $122.93, for a total value of $799,045.00. Following the completion of the sale, the chief financial officer now directly owns 68,379 shares in the company, valued at approximately $8,405,830.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Stephen J. Squeri sold 101,964 shares of American Express stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $119.95, for a total value of $12,230,581.80. Following the completion of the sale, the chairman now owns 258,948 shares of the company’s stock, valued at $31,060,812.60. The disclosure for this sale can be found here. Insiders have sold 190,548 shares of company stock valued at $22,910,322 over the last 90 days. Corporate insiders own 0.21% of the company’s stock.

AXP has been the subject of a number of research analyst reports. Bank of America initiated coverage on American Express in a research note on Wednesday, June 19th. They issued a “buy” rating and a $145.00 price target for the company. Royal Bank of Canada increased their price objective on American Express from $120.00 to $125.00 and gave the stock a “sector perform” rating in a report on Monday, July 22nd. They noted that the move was a valuation call. Wells Fargo & Co increased their price objective on American Express from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. ValuEngine downgraded American Express from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, UBS Group downgraded American Express from a “buy” rating to a “neutral” rating and set a $117.60 price objective for the company. in a report on Monday, April 29th. One equities 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’s stock. The company has a consensus rating of “Hold” and a consensus price target of $124.38.

Shares of NYSE:AXP traded up $0.74 on Friday, hitting $126.03. 1,127,923 shares of the company traded hands, compared to its average volume of 3,458,340. American Express has a 52 week low of $89.05 and a 52 week 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 50 day moving average price of $125.50. The company has a market capitalization of $101.68 billion, a P/E ratio of 17.19, a PEG ratio of 1.38 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 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $10.82 billion. During the same period last year, the company earned $1.84 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. On average, equities analysts anticipate that American Express will post 8.14 EPS for the current 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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