American Express Company $AXP Shares Sold by Mn Services Vermogensbeheer B.V.

Key Points

• Mn Services Vermogensbeheer B.V. reduced its stake in American Express by 2.5%, now holding 209,712 shares valued at approximately $66.9 million.
• A variety of institutional investors increased their positions in American Express during the second quarter, with notable increases of 49.9% by Tompkins Financial Corp and 92.6% by Secure Asset Management LLC.
• American Express reported a net margin of 14.78% and earnings per share of $4.08 for the last quarter, exceeding analysts' expectations and showing a 9.3% increase in revenue year-over-year.

Mn Services Vermogensbeheer B.V. trimmed its holdings in American Express Company (NYSE:AXP - Free Report) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 209,712 shares of the payment services company's stock after selling 5,300 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in American Express were worth $66,894,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Wedmont Private Capital increased its holdings in shares of American Express by 4.2% in the 2nd quarter. Wedmont Private Capital now owns 12,040 shares of the payment services company's stock valued at $3,821,000 after acquiring an additional 490 shares during the period. Tompkins Financial Corp increased its holdings in shares of American Express by 49.9% in the 2nd quarter. Tompkins Financial Corp now owns 4,442 shares of the payment services company's stock valued at $1,417,000 after acquiring an additional 1,478 shares during the period. American Financial Advisors LLC acquired a new position in shares of American Express in the 2nd quarter valued at $224,000. Secure Asset Management LLC increased its holdings in shares of American Express by 92.6% in the 2nd quarter. Secure Asset Management LLC now owns 2,386 shares of the payment services company's stock valued at $761,000 after acquiring an additional 1,147 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of American Express by 4.6% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 347,147 shares of the payment services company's stock valued at $110,733,000 after acquiring an additional 15,298 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on AXP. William Blair reaffirmed an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. BTIG Research set a $277.00 price objective on shares of American Express and gave the company a "sell" rating in a research note on Monday, July 14th. Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a research note on Monday, July 14th. JPMorgan Chase & Co. boosted their price objective on shares of American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, Barclays boosted their price objective on shares of American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $315.20.

American Express Price Performance

American Express stock opened at $335.87 on Thursday. American Express Company has a 52 week low of $220.43 and a 52 week high of $337.50. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The firm's 50-day simple moving average is $313.93 and its 200 day simple moving average is $292.62. The firm has a market capitalization of $233.73 billion, a PE ratio of 23.57, a P/E/G ratio of 1.73 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same period in the previous year, the firm earned $3.49 EPS. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

Insider Buying and Selling

In other American Express news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the transaction, the insider directly owned 123,613 shares in the company, valued at approximately $40,343,574.81. This represents a 15.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laureen Seeger sold 61,721 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the completion of the transaction, the insider owned 9,001 shares in the company, valued at approximately $2,677,527.47. This trade represents a 87.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock worth $85,261,270 in the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

About American Express

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.

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