American Express Company $AXP Stake Raised by Tompkins Financial Corp

Key Points

• Tompkins Financial Corp has increased its stake in American Express by 49.9% during the second quarter, bringing their total holdings to 4,442 shares worth approximately $1.42 million.
• Insiders, including CEO Stephen J. Squeri, have sold significant amounts of American Express stock recently, with Squeri selling over 112,000 shares valued at approximately $37 million.
• Analysts have varied opinions on American Express with target prices ranging from $260 to $375, leading to a consensus rating of "Hold" with an average target price of $315.20.

Tompkins Financial Corp increased its holdings in American Express Company (NYSE:AXP) by 49.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,442 shares of the payment services company's stock after acquiring an additional 1,478 shares during the period. Tompkins Financial Corp's holdings in American Express were worth $1,417,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Capital Asset Advisory Services LLC lifted its stake in American Express by 2.8% in the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company's stock worth $384,000 after acquiring an additional 32 shares in the last quarter. DLK Investment Management LLC lifted its stake in American Express by 3.8% in the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company's stock worth $277,000 after acquiring an additional 32 shares in the last quarter. Financial Engines Advisors L.L.C. lifted its stake in American Express by 4.7% in the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock worth $208,000 after acquiring an additional 35 shares in the last quarter. Modern Wealth Management LLC lifted its stake in American Express by 0.7% in the 1st quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company's stock worth $1,324,000 after acquiring an additional 35 shares in the last quarter. Finally, Greenfield Savings Bank lifted its stake in American Express by 0.3% in the 2nd quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company's stock worth $4,184,000 after acquiring an additional 35 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Express

In other news, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the sale, the insider owned 20,311 shares of the company's stock, valued at approximately $6,312,049.47. This trade represents a 21.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the sale, the chief executive officer directly owned 92,810 shares in the company, valued at $30,614,306.60. The trade was a 54.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock worth $85,261,270 in the last three months. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AXP shares. JPMorgan Chase & Co. upped their target price on American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Morgan Stanley upped their target price on American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft upped their target price on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Monness Crespi & Hardt lowered American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $327.00 target price (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Eight investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $315.20.

American Express Price Performance

Shares of NYSE:AXP opened at $335.87 on Thursday. The business has a 50 day moving average price of $313.93 and a 200 day moving average price of $292.62. American Express Company has a twelve month low of $220.43 and a twelve month high of $337.50. The company has a market cap of $233.73 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 1.73 and a beta of 1.28. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80.

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

American Express Company Profile

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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