Sheaff Brock Investment Advisors LLC Trims Holdings in American Express (NYSE:AXP)
Sheaff Brock Investment Advisors LLC trimmed its position in American Express (NYSE:AXP) by 54.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,721 shares of the payment services company’s stock after selling 23,191 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in American Express were worth $2,434,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in AXP. Camarda Financial Advisors LLC bought a new position in American Express in the 1st quarter worth approximately $26,000. Creative Financial Designs Inc. ADV bought a new position in American Express in the 1st quarter worth approximately $28,000. HMS Capital Management LLC bought a new position in American Express in the 2nd quarter worth approximately $37,000. Edge Wealth Management LLC boosted its stake in American Express by 140.3% in the 2nd quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock worth $46,000 after purchasing an additional 216 shares during the period. Finally, Enterprise Financial Services Corp boosted its stake in American Express by 24.8% in the 1st 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 during the period. 84.26% of the stock is owned by institutional investors.
AXP stock traded up $2.10 during midday trading on Tuesday, reaching $126.05. The company’s stock had a trading volume of 168,096 shares, compared to its average volume of 3,507,544. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 2.50. The company’s fifty day moving average price is $125.56. American Express has a 1 year low of $89.05 and a 1 year high of $129.34. The stock has a market cap of $102.84 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05.
In related news, insider Laureen Seeger sold 44,584 shares of American Express stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $119.25, for a total transaction of $5,316,642.00. Following the completion of the sale, the insider now owns 80,375 shares of the company’s stock, valued at $9,584,718.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Stephen J. Squeri sold 101,964 shares of American Express stock in a transaction dated 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 sale, the chairman now directly owns 258,948 shares of the company’s stock, valued at approximately $31,060,812.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 190,548 shares of company stock worth $22,910,322. Insiders own 0.21% of the company’s stock.
Several research analysts have weighed in on AXP shares. ValuEngine downgraded American Express from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Morgan Stanley set a $142.00 target price on American Express and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. lowered their target price on American Express from $135.00 to $132.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. BMO Capital Markets increased their target price on American Express to $119.00 and gave the company a “market perform” rating in a research report on Monday, July 22nd. Finally, Jefferies Financial Group set a $130.00 target price on American Express and gave the company a “hold” rating in a research report on Friday, July 19th. 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 stock presently has a consensus rating of “Hold” and a consensus price target of $124.49.
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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