GAMMA Investing LLC Buys 1,868 Shares of American Express Company $AXP

Key Points

• GAMMA Investing LLC has increased its stake in American Express Company by 23.2%, now holding stock valued at $3.16 million after acquiring additional shares during the second quarter.
• Several institutional investors have modified their positions in American Express, with Principal Financial Group growing its stake by 5.5% to own over $183 million in shares.
• Analysts have mixed ratings for the stock, with a consensus rating of “Hold” and an average price target of $315.20, while JPMorgan Chase recently raised their target price to $342.00.

GAMMA Investing LLC raised its position in shares of American Express Company (NYSE:AXP - Free Report) by 23.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,907 shares of the payment services company's stock after buying an additional 1,868 shares during the quarter. GAMMA Investing LLC's holdings in American Express were worth $3,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Strategic Planning Group LLC increased its stake in shares of American Express by 5.3% during the second quarter. Strategic Planning Group LLC now owns 12,358 shares of the payment services company's stock valued at $3,942,000 after buying an additional 622 shares during the period. Westend Capital Management LLC lifted its position in shares of American Express by 3.0% in the second quarter. Westend Capital Management LLC now owns 33,705 shares of the payment services company's stock valued at $10,751,000 after acquiring an additional 982 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in American Express by 2.4% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 8,995 shares of the payment services company's stock valued at $2,869,000 after acquiring an additional 208 shares during the last quarter. Narus Financial Partners LLC increased its stake in American Express by 20.1% during the second quarter. Narus Financial Partners LLC now owns 919 shares of the payment services company's stock worth $293,000 after acquiring an additional 154 shares during the last quarter. Finally, Rooted Wealth Advisors Inc. purchased a new position in shares of American Express during the second quarter worth $217,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Up 0.2%

American Express stock traded up $0.61 during mid-day trading on Monday, reaching $341.73. The company's stock had a trading volume of 3,327,074 shares, compared to its average volume of 2,638,350. American Express Company has a 12 month low of $220.43 and a 12 month high of $345.51. The company has a market capitalization of $237.80 billion, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. The business's 50 day simple moving average is $315.10 and its 200 day simple moving average is $294.01. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61.

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, beating the consensus estimate of $3.86 by $0.22. The firm had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The company's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.49 EPS. As a group, research analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

Insider Transactions at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the completion of the sale, the insider directly owned 123,613 shares in the company, valued at $40,343,574.81. This represents a 15.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Anna Marrs sold 5,500 shares of the company'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 value of $1,709,235.00. Following the completion of the transaction, the insider directly owned 20,311 shares in the company, valued at $6,312,049.47. This trade represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AXP shares. Monness Crespi & Hardt cut shares of American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods raised their price target on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. DZ Bank lowered shares of American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Barclays lifted their price target on shares of American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Finally, William Blair restated an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $315.20.

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.