American Express (NYSE:AXP) Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC lowered its holdings in American Express (NYSE:AXP) by 23.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,864 shares of the payment services company’s stock after selling 1,526 shares during the period. Townsquare Capital LLC’s holdings in American Express were worth $455,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AXP. Longview Partners Guernsey LTD grew its holdings in shares of American Express by 1,124.9% in the first quarter. Longview Partners Guernsey LTD now owns 9,465,339 shares of the payment services company’s stock valued at $810,328,000 after purchasing an additional 8,692,580 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of American Express by 28.8% in the first quarter. Wellington Management Group LLP now owns 36,189,848 shares of the payment services company’s stock valued at $3,098,213,000 after purchasing an additional 8,097,131 shares in the last quarter. Viking Global Investors LP grew its holdings in shares of American Express by 170.7% in the second quarter. Viking Global Investors LP now owns 10,497,498 shares of the payment services company’s stock valued at $999,362,000 after purchasing an additional 6,619,218 shares in the last quarter. APG Asset Management N.V. lifted its stake in American Express by 877.6% in the first quarter. APG Asset Management N.V. now owns 3,103,833 shares of the payment services company’s stock worth $302,132,000 after acquiring an additional 2,786,347 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in American Express by 95.8% in the second quarter. Nordea Investment Management AB now owns 5,559,726 shares of the payment services company’s stock worth $520,724,000 after acquiring an additional 2,719,850 shares during the last quarter. Hedge funds and other institutional investors own 84.14% of the company’s stock.

In other American Express news, insider Denise Pickett sold 2,864 shares of American Express stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $96.62, for a total value of $276,719.68. Following the completion of the transaction, the insider now directly owns 10,202 shares in the company, valued at $985,717.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by insiders.

NYSE:AXP traded down $0.07 on Tuesday, reaching $107.20. The stock had a trading volume of 11,803 shares, compared to its average volume of 5,678,435. The company has a market cap of $86.37 billion, a price-to-earnings ratio of 22.45, a P/E/G ratio of 2.56 and a beta of 1.15. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.56 and a quick ratio of 1.56. The firm’s fifty day moving average is $99.63 and its two-hundred day moving average is $94.96. American Express has a 12-month low of $67.00 and a 12-month high of $138.13.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 24th. The payment services company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.16. The business had revenue of $7.68 billion for the quarter, compared to analyst estimates of $8.25 billion. American Express had a net margin of 10.02% and a return on equity of 24.08%. The company’s revenue was down 29.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.07 EPS. As a group, research analysts forecast that American Express will post 4.52 earnings per share for the current fiscal year.

AXP has been the subject of a number of recent research reports. BMO Capital Markets lifted their price target on shares of American Express from $96.00 to $100.00 in a research note on Monday, July 27th. Morgan Stanley reiterated a “buy” rating and issued a $114.00 price target on shares of American Express in a research note on Tuesday, August 18th. Oppenheimer initiated coverage on shares of American Express in a research note on Monday, August 17th. They issued a “buy” rating and a $100.00 price target for the company. Deutsche Bank decreased their price target on shares of American Express from $108.00 to $106.00 and set a “buy” rating for the company in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. downgraded shares of American Express from a “neutral” rating to an “underweight” rating and set a $97.00 price target for the company. in a research note on Wednesday, July 15th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company’s stock. American Express has a consensus rating of “Hold” and an average price target of $106.71.

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.

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

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