Insigneo Advisory Services LLC Has $2.85 Million Stake in American Express (NYSE:AXP)

Insigneo Advisory Services LLC decreased its position in shares of American Express (NYSE:AXP) by 10.6% in the second quarter, Holdings Channel reports. The fund owned 12,607 shares of the payment services company’s stock after selling 1,501 shares during the period. Insigneo Advisory Services LLC’s holdings in American Express were worth $2,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cetera Advisors LLC lifted its position in American Express by 119.6% during the 1st quarter. Cetera Advisors LLC now owns 39,497 shares of the payment services company’s stock worth $8,993,000 after acquiring an additional 21,508 shares during the last quarter. Empowered Funds LLC lifted its position in American Express by 102.9% during the 1st quarter. Empowered Funds LLC now owns 12,480 shares of the payment services company’s stock worth $2,842,000 after acquiring an additional 6,329 shares during the last quarter. Sciencast Management LP acquired a new position in shares of American Express during the first quarter valued at about $1,881,000. New Mexico Educational Retirement Board raised its position in shares of American Express by 15.5% during the first quarter. New Mexico Educational Retirement Board now owns 35,763 shares of the payment services company’s stock valued at $8,143,000 after buying an additional 4,800 shares during the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of American Express by 49.0% during the first quarter. Lord Abbett & CO. LLC now owns 279,106 shares of the payment services company’s stock valued at $63,550,000 after buying an additional 91,760 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AXP. JPMorgan Chase & Co. upped their price objective on shares of American Express from $240.00 to $268.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Jefferies Financial Group upped their price objective on shares of American Express from $225.00 to $235.00 and gave the company a “hold” rating in a research report on Tuesday, July 9th. Royal Bank of Canada upped their price objective on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Bank of America upped their price objective on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Finally, BTIG Research began coverage on shares of American Express in a research report on Friday, June 7th. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $230.78.

American Express Price Performance

Shares of American Express stock opened at $266.49 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $191.69 billion, a price-to-earnings ratio of 21.95, a P/E/G ratio of 1.42 and a beta of 1.21. American Express has a 1-year low of $140.91 and a 1-year high of $272.41. The firm’s 50-day moving average price is $249.90 and its two-hundred day moving average price is $237.85.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. During the same period in the prior year, the firm earned $2.89 earnings per share. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. On average, equities analysts predict that American Express will post 13.12 earnings per share for the current fiscal year.

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.