Public Employees Retirement System of Ohio Cuts Stock Holdings in American Express Company $AXP

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in American Express Company by 4.1%, now holding 227,554 shares worth approximately $72.58 million.
• In the last quarter, several institutional investors, including MorganRosel Wealth Management and Nexus Investment Management, made new investments in American Express, indicating ongoing interest in the company's stock.
• American Express recently reported $4.08 earnings per share, exceeding analysts' estimates, with revenues for the quarter at $17.86 billion, a 9.3% increase year-over-year.

Public Employees Retirement System of Ohio lessened its position in American Express Company (NYSE:AXP) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 227,554 shares of the payment services company's stock after selling 9,726 shares during the quarter. Public Employees Retirement System of Ohio's holdings in American Express were worth $72,585,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new position in American Express in the 1st quarter valued at $29,000. Nexus Investment Management ULC acquired a new stake in shares of American Express in the first quarter valued at about $34,000. Hughes Financial Services LLC purchased a new position in shares of American Express in the first quarter worth about $35,000. 1 North Wealth Services LLC acquired a new position in American Express during the first quarter worth about $37,000. Finally, IAG Wealth Partners LLC purchased a new stake in American Express during the 1st quarter valued at about $40,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

Shares of AXP stock opened at $341.74 on Wednesday. The firm has a market cap of $237.81 billion, a P/E ratio of 23.98, a P/E/G ratio of 1.81 and a beta of 1.28. 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 Company has a one year low of $220.43 and a one year high of $349.19. The firm's 50 day moving average price is $315.72 and its 200-day moving average price is $294.34.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results 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 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 the consensus estimate of $17.70 billion. During the same period in the prior year, the firm earned $3.49 EPS. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities research analysts predict that American Express Company will post 15.33 EPS for the current year.

Insider Buying and Selling at American Express

In other American Express 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 value of $37,034,041.92. Following the sale, the chief executive officer directly owned 92,810 shares of the company's stock, valued at approximately $30,614,306.60. This represents a 54.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction 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 directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AXP. Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a research note on Monday, July 14th. Wells Fargo & Company lifted their price objective on American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Citigroup restated a "neutral" rating and issued a $327.00 target price (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Monness Crespi & Hardt lowered American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of American Express from $371.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, July 21st. Eight equities research 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $315.20.

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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