North American Management Corp Lowers Stock Holdings in American Express (NYSE:AXP)

North American Management Corp reduced its position in American Express (NYSE:AXP) by 1.1% during the second quarter, HoldingsChannel reports. The fund owned 150,739 shares of the payment services company’s stock after selling 1,676 shares during the quarter. American Express comprises 3.0% of North American Management Corp’s holdings, making the stock its 10th biggest position. North American Management Corp’s holdings in American Express were worth $18,607,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AXP. Camarda Financial Advisors LLC bought a new stake in shares of American Express during the first quarter valued at about $26,000. Creative Financial Designs Inc. ADV bought a new stake in shares of American Express during the first quarter valued at about $28,000. HMS Capital Management LLC bought a new stake in shares of American Express during the second quarter valued at about $37,000. Edge Wealth Management LLC increased its position in shares of American Express by 140.3% during 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 period. Finally, Enterprise Financial Services Corp grew its holdings in shares of American Express by 24.8% during the first quarter. Enterprise Financial Services Corp now owns 473 shares of the payment services company’s stock worth $51,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds own 84.02% of the company’s stock.

Several brokerages have recently commented on AXP. JPMorgan Chase & Co. cut their price objective on American Express from $135.00 to $132.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Bank of America began coverage on American Express in a report on Wednesday, June 19th. They set a “buy” rating and a $145.00 price objective for the company. Stephens set a $131.00 price objective on American Express and gave the stock a “buy” rating in a report on Monday, May 20th. Oppenheimer set a $119.00 price objective on American Express and gave the stock a “buy” rating in a report on Wednesday, April 17th. Finally, BMO Capital Markets boosted their price objective on American Express to $119.00 and gave the stock a “market perform” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. American Express presently has a consensus rating of “Hold” and an average target price of $124.38.

AXP traded up $0.88 during midday trading on Friday, hitting $126.17. The stock had a trading volume of 1,769,624 shares, compared to its average volume of 3,482,599. The stock has a market capitalization of $103.95 billion, a P/E ratio of 17.21, a P/E/G ratio of 1.41 and a beta of 1.05. The company’s fifty day moving average is $125.52. 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 1 year low of $89.05 and a 1 year high of $129.34.

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

In other American Express news, Chairman Stephen J. Squeri sold 101,964 shares of the company’s stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Laureen Seeger sold 44,584 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $119.25, for a total value of $5,316,642.00. Following the completion of the sale, the insider now directly owns 80,375 shares of the company’s stock, valued at approximately $9,584,718.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 190,548 shares of company stock valued at $22,910,322. 0.21% of the stock is owned by insiders.

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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