Secure Asset Management LLC Increases Stock Position in American Express Company $AXP

Secure Asset Management LLC grew its holdings in shares of American Express Company (NYSE:AXP) by 92.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,386 shares of the payment services company’s stock after acquiring an additional 1,147 shares during the period. Secure Asset Management LLC’s holdings in American Express were worth $761,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AXP. Investment Management Corp VA ADV purchased a new position in American Express during the 4th quarter worth approximately $29,000. MorganRosel Wealth Management LLC bought a new stake in shares of American Express during the 1st quarter worth about $29,000. Nexus Investment Management ULC bought a new position in shares of American Express in the first quarter valued at approximately $34,000. Hughes Financial Services LLC bought a new stake in American Express during the first quarter valued at about $35,000. Finally, 1 North Wealth Services LLC acquired a new stake in American Express in the 1st quarter valued at approximately $37,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the transaction, the insider directly owned 123,613 shares of the company’s stock, valued at $40,343,574.81. The trade was a 15.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the sale, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 269,996 shares of company stock worth $85,261,270. Insiders own 0.20% of the company’s stock.

American Express Stock Performance

NYSE AXP opened at $341.90 on Friday. The firm has a market cap of $237.92 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 1.78 and a beta of 1.28. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. The company has a fifty day moving average price of $314.26 and a 200-day moving average price of $292.94. American Express Company has a 1 year low of $220.43 and a 1 year high of $342.47.

American Express (NYSE:AXP) last posted its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.86 by $0.22. The business had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. American Express’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.49 EPS. As a group, equities research analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AXP has been the topic of several recent analyst reports. Morgan Stanley boosted their price target on American Express from $250.00 to $311.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. DZ Bank lowered shares of American Express from a “hold” rating to a “sell” rating in a report on Monday, July 21st. Deutsche Bank Aktiengesellschaft upped their price target on American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, July 21st. BTIG Research set a $277.00 price objective on American Express and gave the stock a “sell” rating in a research note on Monday, July 14th. Finally, Barclays lifted their price target on shares of American Express from $249.00 to $297.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 8th. Eight analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, American Express has an average rating of “Hold” and an average price target of $315.20.

American Express Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.