Morse Asset Management Inc raised its holdings in American Express (NYSE:AXP) by 115.6% during the second quarter, Holdings Channel reports. The institutional investor owned 71,720 shares of the payment services company’s stock after buying an additional 38,450 shares during the period. American Express makes up about 2.6% of Morse Asset Management Inc’s holdings, making the stock its 7th largest position. Morse Asset Management Inc’s holdings in American Express were worth $8,853,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Laurel Wealth Advisors Inc. increased its position in shares of American Express by 2.0% during the first quarter. Laurel Wealth Advisors Inc. now owns 4,192 shares of the payment services company’s stock worth $458,000 after purchasing an additional 84 shares in the last quarter. Welch Group LLC increased its position in shares of American Express by 2.2% during the second quarter. Welch Group LLC now owns 3,855 shares of the payment services company’s stock worth $476,000 after purchasing an additional 84 shares in the last quarter. Papp L Roy & Associates increased its position in shares of American Express by 1.3% during the first quarter. Papp L Roy & Associates now owns 6,750 shares of the payment services company’s stock worth $738,000 after purchasing an additional 86 shares in the last quarter. Signaturefd LLC increased its position in shares of American Express by 2.0% during the second quarter. Signaturefd LLC now owns 4,492 shares of the payment services company’s stock worth $554,000 after purchasing an additional 88 shares in the last quarter. Finally, Enterprise Financial Services Corp increased its position 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 own 84.26% of the company’s stock.

In other American Express news, CFO Jeffrey C. Campbell sold 7,045 shares of American Express stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $124.91, for a total value of $879,990.95. Following the sale, the chief financial officer now owns 59,620 shares of the company’s stock, valued at approximately $7,447,134.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Stephen J. Squeri sold 101,964 shares of American Express stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $119.95, for a total transaction of $12,230,581.80. Following 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. In the last three months, insiders have sold 190,548 shares of company stock worth $22,910,322. Corporate insiders own 0.21% of the company’s stock.

Shares of NYSE AXP traded up $2.46 during midday trading on Tuesday, reaching $126.41. 237,072 shares of the company were exchanged, compared to its average volume of 3,507,544. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.50. American Express has a 1 year low of $89.05 and a 1 year high of $129.34. The company’s fifty day moving average is $125.56. The company has a market capitalization of $102.84 billion, a PE ratio of 17.24, a P/E/G ratio of 1.42 and a beta of 1.05.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter, compared to analyst estimates of $10.82 billion. During the same quarter last year, the company posted $1.84 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts predict that American Express will post 8.14 earnings per share for the current year.

A number of research firms have recently commented on AXP. ValuEngine cut American Express from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Tuesday, June 18th. Royal Bank of Canada lifted their target price on American Express from $120.00 to $125.00 and gave the stock a “sector perform” rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. Jefferies Financial Group set a $130.00 target price on American Express and gave the stock a “hold” rating in a research report on Friday, July 19th. Finally, BMO Capital Markets lifted their target price on American Express to $119.00 and gave the stock a “market perform” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $124.49.

American Express Company Profile

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.

Further Reading: 52-Week High/Low

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP).

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

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.