Sandy Spring Bank boosted its stake in shares of American Express (NYSE:AXP) by 0.8% in the second quarter, Holdings Channel reports. The firm owned 50,718 shares of the payment services company’s stock after acquiring an additional 424 shares during the period. Sandy Spring Bank’s holdings in American Express were worth $6,261,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in AXP. Laurel Wealth Advisors Inc. boosted its position in shares of American Express by 2.0% in the first quarter. Laurel Wealth Advisors Inc. now owns 4,192 shares of the payment services company’s stock valued at $458,000 after acquiring an additional 84 shares during the period. Welch Group LLC boosted its position in shares of American Express by 2.2% in the second quarter. Welch Group LLC now owns 3,855 shares of the payment services company’s stock valued at $476,000 after acquiring an additional 84 shares during the period. Papp L Roy & Associates boosted its position in shares of American Express by 1.3% in the first quarter. Papp L Roy & Associates now owns 6,750 shares of the payment services company’s stock valued at $738,000 after acquiring an additional 86 shares during the period. Signaturefd LLC boosted its position in shares of American Express by 2.0% in the second quarter. Signaturefd LLC now owns 4,492 shares of the payment services company’s stock valued at $554,000 after acquiring an additional 88 shares during the period. Finally, Enterprise Financial Services Corp boosted its position in shares of American Express by 24.8% in the first quarter. Enterprise Financial Services Corp now owns 473 shares of the payment services company’s stock valued at $51,000 after acquiring an additional 94 shares during the period. 84.26% of the stock is owned by hedge funds and other institutional investors.

AXP stock traded down $1.37 during midday trading on Wednesday, hitting $122.58. The stock had a trading volume of 1,400,373 shares, compared to its average volume of 3,363,736. The firm has a market capitalization of $104.80 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. American Express has a 52 week low of $89.05 and a 52 week high of $129.34. The stock’s 50-day simple moving average is $125.59. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 2.50.

American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $2.07 EPS for the quarter, topping the consensus estimate of $2.05 by $0.02. The firm had revenue of $10.84 billion during the quarter, compared to analysts’ expectations of $10.82 billion. American Express had a return on equity of 29.75% and a net margin of 16.60%. American Express’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $1.84 earnings per share. Equities analysts forecast that American Express will post 8.14 earnings per share for the current fiscal year.

In other American Express news, insider Laureen Seeger sold 44,584 shares of the stock in a transaction on 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 transaction, the insider now directly owns 80,375 shares in the company, valued at $9,584,718.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Stephen J. Squeri sold 15,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $114.69, for a total value of $1,720,350.00. Following the transaction, the chairman now owns 214,815 shares of the company’s stock, valued at $24,637,132.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 190,548 shares of company stock valued at $22,910,322. 0.21% of the stock is owned by company insiders.

Several equities research analysts have recently weighed in on the company. BMO Capital Markets increased their price objective on American Express to $119.00 and gave the company a “market perform” rating in a research report on Monday, July 22nd. Morgan Stanley set a $142.00 price objective on American Express and gave the company a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. reduced their price objective 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. ValuEngine cut American Express from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Oppenheimer set a $119.00 price objective on American Express and gave the company a “buy” rating in a research report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $124.49.

American Express 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.

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

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