abrdn plc Sells 185,453 Shares of American Express (NYSE:AXP)

abrdn plc reduced its stake in shares of American Express (NYSE:AXP) by 10.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,524,691 shares of the payment services company’s stock after selling 185,453 shares during the period. abrdn plc’s holdings in American Express were worth $251,925,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Fisher Asset Management LLC raised its holdings in American Express by 1.2% during the second quarter. Fisher Asset Management LLC now owns 15,370,083 shares of the payment services company’s stock valued at $2,539,599,000 after buying an additional 185,909 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of American Express by 2.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,961,484 shares of the payment services company’s stock worth $1,833,273,000 after purchasing an additional 296,189 shares during the period. Geode Capital Management LLC increased its stake in shares of American Express by 2.1% in the first quarter. Geode Capital Management LLC now owns 9,454,238 shares of the payment services company’s stock worth $1,332,930,000 after purchasing an additional 194,116 shares during the period. Morgan Stanley increased its stake in shares of American Express by 6.3% in the first quarter. Morgan Stanley now owns 9,294,095 shares of the payment services company’s stock worth $1,314,558,000 after purchasing an additional 553,665 shares during the period. Finally, Artisan Partners Limited Partnership increased its stake in shares of American Express by 9.4% in the first quarter. Artisan Partners Limited Partnership now owns 5,855,179 shares of the payment services company’s stock worth $828,157,000 after purchasing an additional 504,547 shares during the period. Institutional investors own 84.62% of the company’s stock.

In other American Express news, CFO Jeffrey C. Campbell sold 74,677 shares of the company’s stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $170.48, for a total transaction of $12,730,934.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laureen Seeger sold 20,625 shares of the business’s stock in a transaction on Thursday, June 17th. The shares were sold at an average price of $165.44, for a total transaction of $3,412,200.00. Following the completion of the transaction, the insider now directly owns 63,987 shares of the company’s stock, valued at approximately $10,586,009.28. The disclosure for this sale can be found here. Insiders sold a total of 108,726 shares of company stock valued at $18,280,773 in the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

A number of equities analysts have recently commented on AXP shares. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $160.00 price objective on shares of American Express in a research note on Monday, June 7th. Barclays lifted their price objective on American Express from $155.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Monday, July 26th. Daiwa Capital Markets lowered American Express from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a research note on Thursday, August 12th. initiated coverage on American Express in a research note on Friday, July 9th. They issued a “hold” rating and a $183.00 price objective on the stock. Finally, Oppenheimer reissued a “buy” rating and set a $173.18 target price on shares of American Express in a research report on Sunday, July 25th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $163.15.

Shares of AXP traded up $1.70 on Wednesday, hitting $161.18. The company’s stock had a trading volume of 115,840 shares, compared to its average volume of 3,501,231. The company has a market capitalization of $128.05 billion, a PE ratio of 18.54, a PEG ratio of 0.90 and a beta of 1.28. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.58 and a quick ratio of 1.58. American Express has a fifty-two week low of $89.11 and a fifty-two week high of $179.67. The company has a 50 day moving average price of $166.75 and a 200 day moving average price of $158.29.

American Express (NYSE:AXP) last announced its earnings results on Thursday, July 22nd. The payment services company reported $2.80 EPS for the quarter, topping the 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 business had revenue of $10.24 billion for the quarter, compared to the consensus estimate of $9.59 billion. During the same period in the previous year, the business earned $0.29 EPS. American Express’s revenue was up 33.5% compared to the same quarter last year. On average, equities analysts forecast that American Express will post 8.82 EPS for the current 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.

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

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