LaFleur & Godfrey LLC Has $11.52 Million Holdings in American Express Company $AXP

Key Points

• LaFleur & Godfrey LLC increased its stake in American Express by 83.8% during Q2, owning 36,121 shares valued at $11.52 million.
• American Express reported Q2 earnings of $4.08 per share, exceeding estimates, and achieved a net margin of 14.78% with revenues of $17.86 billion.
• CEO Stephen J. Squeri sold 112,272 shares of American Express; insiders collectively sold 269,996 shares totaling approximately $85.26 million in the last 90 days.

LaFleur & Godfrey LLC boosted its position in shares of American Express Company (NYSE:AXP - Free Report) by 83.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,121 shares of the payment services company's stock after acquiring an additional 16,472 shares during the quarter. American Express accounts for approximately 1.4% of LaFleur & Godfrey LLC's investment portfolio, making the stock its 24th biggest position. LaFleur & Godfrey LLC's holdings in American Express were worth $11,522,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of American Express by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock worth $12,334,299,000 after acquiring an additional 605,900 shares in the last quarter. Wellington Management Group LLP raised its holdings in American Express by 13.7% during the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock worth $4,849,777,000 after purchasing an additional 2,168,445 shares during the last quarter. Nuveen LLC acquired a new position in shares of American Express in the first quarter worth $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of American Express by 1.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company's stock valued at $1,370,489,000 after purchasing an additional 78,538 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company's stock valued at $1,278,711,000 after acquiring an additional 965,221 shares during the period. Institutional investors and hedge funds own 84.33% of the company's stock.

Insider Activity at American Express

In related news, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the sale, the chief executive officer owned 92,810 shares in the company, valued at approximately $30,614,306.60. This trade represents a 54.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Anna Marrs sold 5,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the sale, the insider owned 20,311 shares in the company, valued at $6,312,049.47. This represents a 21.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is currently owned by company insiders.

American Express Stock Performance

Shares of AXP stock traded up $0.61 on Monday, reaching $341.73. The stock had a trading volume of 3,327,074 shares, compared to its average volume of 2,638,350. The firm has a market capitalization of $237.80 billion, a price-to-earnings ratio of 23.98, a P/E/G ratio of 1.81 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 Company has a 12 month low of $220.43 and a 12 month high of $345.51. The firm's 50-day moving average is $315.10 and its two-hundred day moving average is $294.01.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating 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 firm had revenue of $17.86 billion for the quarter, compared to analysts' expectations of $17.70 billion. During the same period in the prior year, the firm earned $3.49 EPS. The business's revenue was up 9.3% on a year-over-year basis. On average, research analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a report on Friday, July 11th. Keefe, Bruyette & Woods increased their price objective on American Express from $360.00 to $371.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Morgan Stanley increased their target price on shares of American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a research report on Monday, July 14th. Finally, Wells Fargo & Company increased their target price on shares of American Express from $350.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, American Express presently has an average rating of "Hold" and a consensus price target of $315.20.

American Express 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.