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.
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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