Employers Holdings Inc. Makes New Investment in American Express (NYSE:AXP)

Employers Holdings Inc. bought a new position in American Express (NYSE:AXP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,571 shares of the payment services company’s stock, valued at approximately $1,799,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in AXP. Capital Wealth Planning LLC boosted its holdings in shares of American Express by 3,750.4% during the second quarter. Capital Wealth Planning LLC now owns 494,394 shares of the payment services company’s stock worth $61,028,000 after purchasing an additional 481,554 shares during the period. Comerica Bank raised its position in American Express by 11.1% during the second quarter. Comerica Bank now owns 161,911 shares of the payment services company’s stock valued at $20,575,000 after acquiring an additional 16,178 shares in the last quarter. FinTrust Capital Advisors LLC raised its position in American Express by 21.4% during the second quarter. FinTrust Capital Advisors LLC now owns 3,015 shares of the payment services company’s stock valued at $372,000 after acquiring an additional 532 shares in the last quarter. Wright Investors Service Inc. raised its position in American Express by 0.6% during the second quarter. Wright Investors Service Inc. now owns 54,355 shares of the payment services company’s stock valued at $6,709,000 after acquiring an additional 334 shares in the last quarter. Finally, Sigma Planning Corp raised its position in American Express by 6.5% during the second quarter. Sigma Planning Corp now owns 12,213 shares of the payment services company’s stock valued at $1,508,000 after acquiring an additional 749 shares in the last quarter. Institutional investors own 84.26% of the company’s stock.

Shares of NYSE:AXP traded up $1.24 during trading on Friday, reaching $123.62. The stock had a trading volume of 520,690 shares, compared to its average volume of 3,558,387. American Express has a 52 week low of $89.05 and a 52 week high of $129.34. The firm has a market capitalization of $104.80 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 1.42 and a beta of 1.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 2.50. The stock has a fifty day simple moving average of $125.55 and a two-hundred day simple moving average of $116.59.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, July 19th. The payment services company reported $2.07 EPS for the quarter, beating the Zacks’ consensus estimate of $2.05 by $0.02. American Express had a net margin of 16.60% and a return on equity of 29.75%. The company had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.82 billion. During the same quarter last year, the firm posted $1.84 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, analysts forecast that American Express will post 8.13 EPS for the current year.

Several brokerages recently weighed in on AXP. Wells Fargo & Co raised their price objective on shares of American Express from $135.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. Deutsche Bank began coverage on shares of American Express in a research report on Monday, July 8th. They set a “buy” rating and a $142.00 price objective on the stock. Stephens set a $131.00 price objective on shares of American Express and gave the company a “buy” rating in a research report on Monday, May 20th. ValuEngine lowered shares of American Express from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group set a $130.00 price objective on shares of American Express and gave the company a “hold” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. American Express presently has an average rating of “Hold” and a consensus target price of $124.49.

In other news, CFO Jeffrey C. Campbell sold 6,500 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $122.93, for a total value of $799,045.00. Following the completion of the sale, the chief financial officer now directly owns 68,379 shares of the company’s stock, valued at approximately $8,405,830.47. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeffrey C. Campbell sold 7,045 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $124.91, for a total value of $879,990.95. Following the completion of the sale, the chief financial officer now directly owns 59,620 shares of the company’s stock, valued at $7,447,134.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 190,548 shares of company stock valued at $22,910,322. 0.21% of the stock is currently owned by company insiders.

American Express Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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