TCV Trust & Wealth Management Inc. Has $976,000 Holdings in American Express Company $AXP

Key Points

• TCV Trust & Wealth Management Inc. increased its holdings in American Express by 122.4% in Q2, owning 3,060 shares valued at $976,000 after purchasing an additional 1,684 shares.
• Insider sales included CEO Stephen J. Squeri selling 112,272 shares for approximately $37 million, representing a 54.74% decrease in his ownership.
• Analyst ratings show a consensus "Hold" with an average price target of $315.20, with several firms recently adjusting their target prices for American Express shares.

TCV Trust & Wealth Management Inc. increased its holdings in American Express Company (NYSE:AXP - Free Report) by 122.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,060 shares of the payment services company's stock after purchasing an additional 1,684 shares during the quarter. TCV Trust & Wealth Management Inc.'s holdings in American Express were worth $976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new stake in shares of American Express in the 4th quarter valued at approximately $29,000. MorganRosel Wealth Management LLC acquired a new position in shares of American Express in the 1st quarter valued at about $29,000. Nexus Investment Management ULC bought a new stake in shares of American Express in the first quarter valued at approximately $34,000. Hughes Financial Services LLC acquired a new position in American Express during the first quarter worth $35,000. Finally, 1 North Wealth Services LLC acquired a new position in shares of American Express during the 1st quarter worth about $37,000. Institutional investors own 84.33% of the company's stock.

Insider Transactions at American Express

In related news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the sale, the insider directly owned 123,613 shares in the company, valued at approximately $40,343,574.81. The trade was a 15.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of the business's 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 completion of the sale, the chief executive officer directly owned 92,810 shares in the company, valued at approximately $30,614,306.60. The trade was a 54.74% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 269,996 shares of company stock valued at $85,261,270. Insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AXP. Citigroup reiterated a "neutral" rating and set a $327.00 target price (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Morgan Stanley upped their price objective on American Express from $250.00 to $311.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. DZ Bank lowered American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Wells Fargo & Company boosted their price objective on shares of American Express from $350.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Finally, Barclays upped 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 analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $315.20.

American Express Stock Performance

AXP traded down $1.26 during trading on Friday, reaching $340.41. 8,629,534 shares of the company's stock were exchanged, compared to its average volume of 2,638,350. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $344.36. 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 business has a 50 day moving average price of $314.68 and a 200 day moving average price of $293.40. The company has a market capitalization of $236.88 billion, a P/E ratio of 23.94, a PEG ratio of 1.81 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, beating 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 during the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter in the prior year, the firm posted $3.49 EPS. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

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.