Integrated Investment Consultants LLC Sells 582 Shares of American Express (AXP)

Integrated Investment Consultants LLC cut its stake in shares of American Express (NYSE:AXP) by 20.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,311 shares of the payment services company’s stock after selling 582 shares during the period. Integrated Investment Consultants LLC’s holdings in American Express were worth $226,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Destination Wealth Management raised its stake in American Express by 165.4% in the second quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock valued at $104,000 after buying an additional 660 shares during the period. Archford Capital Strategies LLC bought a new stake in American Express in the first quarter valued at approximately $123,000. Private Ocean LLC raised its stake in American Express by 14,070.0% in the first quarter. Private Ocean LLC now owns 1,417 shares of the payment services company’s stock valued at $132,000 after buying an additional 1,407 shares during the period. Kiley Juergens Wealth Management LLC bought a new stake in American Express in the second quarter valued at approximately $148,000. Finally, Guidant Wealth Advisors raised its stake in American Express by 280.7% in the second quarter. Guidant Wealth Advisors now owns 807 shares of the payment services company’s stock valued at $150,000 after buying an additional 595 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

Several research firms have issued reports on AXP. BMO Capital Markets upped their price objective on American Express from $103.00 to $106.00 and gave the company a “market perform” rating in a research note on Thursday, July 19th. Oppenheimer set a $113.00 price objective on American Express and gave the company a “buy” rating in a research note on Wednesday, July 18th. Jefferies Financial Group restated a “hold” rating and issued a $105.00 price objective on shares of American Express in a research note on Monday, July 16th. DZ Bank upgraded American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Finally, UBS Group upgraded American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the company. American Express currently has a consensus rating of “Hold” and an average price target of $108.83.

In related news, insider Douglas E. Buckminster sold 3,804 shares of the stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $99.03, for a total transaction of $376,710.12. Following the sale, the insider now owns 19,514 shares of the company’s stock, valued at $1,932,471.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jeffrey C. Campbell sold 9,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $99.73, for a total value of $897,570.00. Following the sale, the chief financial officer now directly owns 66,568 shares in the company, valued at approximately $6,638,826.64. The disclosure for this sale can be found here. Insiders have sold 34,304 shares of company stock worth $3,410,015 in the last three months. 0.20% of the stock is currently owned by company insiders.

Shares of NYSE:AXP opened at $105.76 on Monday. The company has a market cap of $91.07 billion, a P/E ratio of 18.02, a P/E/G ratio of 1.43 and a beta of 1.15. American Express has a 1 year low of $84.02 and a 1 year high of $106.34. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.92 and a current ratio of 1.92.

American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, July 18th. The payment services company reported $1.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.83 by $0.01. The business had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.05 billion. American Express had a return on equity of 30.08% and a net margin of 9.23%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.47 earnings per share. analysts anticipate that American Express will post 7.23 EPS for the current fiscal year.

American Express announced that its Board of Directors has authorized a share buyback plan on Thursday, June 28th that allows the company to repurchase $3.40 billion in outstanding shares. This repurchase authorization allows the payment services company to buy up to 4.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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 four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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

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