Fulton Bank N.A. Increases Stock Position in American Express Company $AXP

Fulton Bank N.A. lifted its holdings in American Express Company (NYSE:AXP) by 8.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 8,750 shares of the payment services company’s stock after purchasing an additional 682 shares during the period. Fulton Bank N.A.’s holdings in American Express were worth $2,791,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of AXP. Capital Asset Advisory Services LLC raised its stake in shares of American Express by 2.8% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock worth $384,000 after acquiring an additional 32 shares in the last quarter. DLK Investment Management LLC raised its stake in shares of American Express by 3.8% during the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company’s stock worth $277,000 after acquiring an additional 32 shares in the last quarter. Financial Engines Advisors L.L.C. raised its stake in shares of American Express by 4.7% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company’s stock worth $208,000 after acquiring an additional 35 shares in the last quarter. Modern Wealth Management LLC raised its stake in shares of American Express by 0.7% during the 1st quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company’s stock worth $1,324,000 after acquiring an additional 35 shares in the last quarter. Finally, Greenfield Savings Bank raised its stake in shares of American Express by 0.3% during the 2nd quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company’s stock worth $4,184,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Up 2.7%

AXP stock opened at $335.87 on Thursday. The firm has a market cap of $233.73 billion, a PE ratio of 23.57, a P/E/G ratio of 1.73 and a beta of 1.28. 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 firm’s fifty day moving average is $313.93 and its 200 day moving average is $292.62. American Express Company has a one year low of $220.43 and a one year high of $337.50.

American Express (NYSE:AXP) last released its quarterly earnings results 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. The company had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $3.49 earnings per share. On average, research analysts forecast that American Express Company will post 15.33 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of American Express from $360.00 to $371.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, July 21st. Morgan Stanley boosted their price objective on shares of American Express from $250.00 to $311.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 10th. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Wednesday, July 2nd. Finally, Monness Crespi & Hardt lowered shares of American Express from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 15th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $315.20.

Insider Buying and Selling at American Express

In other American Express news, insider Laureen Seeger sold 61,721 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the transaction, the insider directly owned 9,001 shares of the company’s stock, valued at $2,677,527.47. This trade represents a 87.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the transaction, the chief executive officer directly owned 92,810 shares in the company, valued at approximately $30,614,306.60. The trade was a 54.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 269,996 shares of company stock valued at $85,261,270. 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.