Beaton Management Co. Inc. Buys 2,747 Shares of American Express (NYSE:AXP)

Beaton Management Co. Inc. raised its position in shares of American Express (NYSE:AXP) by 61.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,203 shares of the payment services company’s stock after purchasing an additional 2,747 shares during the period. Beaton Management Co. Inc.’s holdings in American Express were worth $969,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Blair William & Co. IL boosted its position in shares of American Express by 1.1% in the 2nd quarter. Blair William & Co. IL now owns 588,895 shares of the payment services company’s stock worth $97,303,000 after purchasing an additional 6,495 shares in the last quarter. Kentucky Retirement Systems purchased a new position in American Express during the second quarter valued at approximately $6,261,000. Bank of Nova Scotia boosted its stake in shares of American Express by 17.9% during the 2nd quarter. Bank of Nova Scotia now owns 145,772 shares of the payment services company’s stock worth $24,085,000 after acquiring an additional 22,084 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of American Express by 39.2% in the 2nd quarter. Bank of Montreal Can now owns 1,810,297 shares of the payment services company’s stock valued at $298,718,000 after buying an additional 509,647 shares during the period. Finally, Davis R M Inc. grew its stake in American Express by 22.1% during the 2nd quarter. Davis R M Inc. now owns 1,897 shares of the payment services company’s stock worth $313,000 after purchasing an additional 343 shares in the last quarter. 84.62% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on AXP shares. Seaport Global Securities started coverage on American Express in a research note on Monday, August 30th. They set a “neutral” rating for the company. Credit Suisse Group reiterated an “underperform” rating and set a $173.92 target price (up previously from $135.00) on shares of American Express in a report on Monday, July 26th. Stephens reiterated an “equal weight” rating and set a $173.00 target price (up previously from $158.00) on shares of American Express in a report on Monday, July 26th. Seaport Res Ptn restated a “neutral” rating on shares of American Express in a report on Monday, August 30th. Finally, DZ Bank cut American Express from a “buy” rating to a “hold” rating and set a $170.00 price objective on the stock. in a report on Thursday, June 17th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average price target of $167.72.

In other news, insider Marc D. Gordon sold 13,424 shares of the business’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $159.24, for a total value of $2,137,637.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jeffrey C. Campbell sold 74,677 shares of American Express stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $170.48, for a total transaction of $12,730,934.96. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

NYSE:AXP traded up $0.93 on Monday, reaching $176.65. The stock had a trading volume of 91,633 shares, compared to its average volume of 3,523,979. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $140.34 billion, a P/E ratio of 20.43, a price-to-earnings-growth ratio of 0.90 and a beta of 1.28. American Express has a 1-year low of $89.11 and a 1-year high of $179.67. The stock has a fifty day moving average price of $165.88 and a 200-day moving average price of $159.53.

American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, July 22nd. The payment services company reported $2.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.64 by $1.16. American Express had a return on equity of 26.15% and a net margin of 18.72%. The firm had revenue of $10.24 billion during the quarter, compared to analysts’ expectations of $9.59 billion. During the same period last year, the firm posted $0.29 EPS. The business’s revenue was up 33.5% on a year-over-year basis. Sell-side analysts predict that American Express will post 8.82 earnings per share for the current fiscal year.

American Express Profile

American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services, and Corporate and Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.

Read More: Average Daily Trade Volume – ADTV

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

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