Midwest Professional Planners LTD. Invests $263,000 in American Express (NYSE:AXP)

Midwest Professional Planners LTD. purchased a new position in American Express (NYSE:AXP) in the second quarter, HoldingsChannel.com reports. The firm purchased 1,593 shares of the payment services company’s stock, valued at approximately $263,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cowen Prime Advisors LLC bought a new position in shares of American Express in the second quarter worth about $33,000. Geo Capital Gestora de Recursos Ltd lifted its stake in shares of American Express by 92.6% in the 1st quarter. Geo Capital Gestora de Recursos Ltd now owns 208 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Baldrige Asset Management LLC bought a new stake in shares of American Express in the 2nd quarter valued at approximately $39,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of American Express in the 1st quarter valued at approximately $35,000. Finally, Burleson & Company LLC purchased a new stake in shares of American Express in the first quarter worth approximately $37,000. Institutional investors and hedge funds own 84.62% of the company’s stock.

American Express stock traded up $2.01 during midday trading on Wednesday, reaching $161.49. 26,966 shares of the stock traded hands, compared to its average volume of 3,501,231. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.46. The firm has a fifty day moving average price of $166.75 and a two-hundred day moving average price of $158.29. The firm has a market cap of $128.29 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 0.90 and a beta of 1.28. American Express has a fifty-two week low of $89.11 and a fifty-two week high of $179.67.

American Express (NYSE:AXP) last issued its quarterly earnings results on Thursday, July 22nd. The payment services company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $1.16. American Express had a net margin of 18.72% and a return on equity of 26.15%. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.59 billion. During the same period in the prior year, the business posted $0.29 EPS. The business’s revenue for the quarter was up 33.5% compared to the same quarter last year. Analysts anticipate that American Express will post 8.82 earnings per share for the current year.

Several research analysts have commented on AXP shares. Deutsche Bank Aktiengesellschaft raised their price objective on American Express from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, July 26th. The Goldman Sachs Group raised American Express from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $185.00 to $225.00 in a research report on Tuesday, July 6th. Seaport Global Securities assumed coverage on American Express in a research report on Monday, August 30th. They set a “neutral” rating for the company. Royal Bank of Canada lifted their price objective on American Express from $174.00 to $185.00 and gave the company a “sector perform” rating in a research note on Monday, July 26th. Finally, DZ Bank lowered American Express from a “buy” rating to a “hold” rating and set a $170.00 price objective for the company. in a research note on Thursday, June 17th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $163.15.

In other American Express news, insider Laureen Seeger sold 20,625 shares of the company’s stock in a transaction that occurred on Thursday, June 17th. The shares were sold at an average price of $165.44, for a total value of $3,412,200.00. Following the transaction, the insider now owns 63,987 shares in the company, valued at approximately $10,586,009.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Marc D. Gordon sold 13,424 shares of the company’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $159.24, for a total transaction of $2,137,637.76. The disclosure for this sale can be found here. Insiders have sold 108,726 shares of company stock worth $18,280,773 in the last 90 days. 0.20% of the stock is owned by company insiders.

About American Express

American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services, and Corporate and Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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