Sky Investment Group LLC Has $15.35 Million Stock Position in American Express Company $AXP

Sky Investment Group LLC lessened its stake in shares of American Express Company (NYSE:AXP) by 1.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 48,105 shares of the payment services company’s stock after selling 597 shares during the period. American Express accounts for about 2.7% of Sky Investment Group LLC’s investment portfolio, making the stock its 4th biggest holding. Sky Investment Group LLC’s holdings in American Express were worth $15,345,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in shares of American Express by 5.5% during the 1st quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company’s stock valued at $183,037,000 after acquiring an additional 35,295 shares during the period. Pinnacle Financial Partners Inc boosted its position in shares of American Express by 1.4% in the first quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company’s stock worth $45,243,000 after purchasing an additional 2,259 shares during the period. R Squared Ltd bought a new position in shares of American Express in the first quarter worth approximately $509,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of American Express by 6.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company’s stock worth $25,088,000 after purchasing an additional 5,693 shares during the period. Finally, Navis Wealth Advisors LLC boosted its holdings in American Express by 368.7% in the 1st quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company’s stock worth $955,000 after buying an additional 2,791 shares during the period. Institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AXP. Truist Financial upped their target price on shares of American Express from $348.00 to $375.00 and gave the stock a “buy” rating in a report on Monday. Citigroup reaffirmed a “neutral” rating and issued a $327.00 price objective (up previously from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. William Blair restated an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. Morgan Stanley upped their price target on American Express from $250.00 to $311.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. Finally, Monness Crespi & Hardt downgraded American Express from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 15th. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $315.20.

American Express Stock Up 1.8%

NYSE AXP opened at $341.90 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The company has a market capitalization of $237.92 billion, a P/E ratio of 23.99, a P/E/G ratio of 1.78 and a beta of 1.28. American Express Company has a one year low of $220.43 and a one year high of $342.47. The stock has a 50 day moving average price of $314.26 and a 200-day moving average price of $292.94.

American Express (NYSE:AXP) 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 net margin of 14.78% and a return on equity of 32.87%. The business had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same quarter last year, the business earned $3.49 earnings per share. American Express’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

Insider Transactions at American Express

In other news, insider Anna Marrs sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the sale, the insider directly owned 20,311 shares of the company’s stock, valued at $6,312,049.47. This trade represents a 21.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Laureen Seeger sold 61,721 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total value of $18,360,145.87. Following the completion of the sale, the insider directly owned 9,001 shares of the company’s stock, valued at $2,677,527.47. The trade was a 87.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock worth $85,261,270 in the last quarter. Company insiders own 0.20% of the company’s stock.

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.