Dundas Partners LLP Increases Stake in American Express (NYSE:AXP)

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Dundas Partners LLP increased its position in shares of American Express (NYSE:AXP) by 1.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,726 shares of the payment services company’s stock after buying an additional 1,731 shares during the period. American Express comprises approximately 3.4% of Dundas Partners LLP’s holdings, making the stock its 13th largest holding. Dundas Partners LLP’s holdings in American Express were worth $14,407,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AXP. Comerica Securities Inc. raised its stake in American Express by 5.3% during the 4th quarter. Comerica Securities Inc. now owns 5,582 shares of the payment services company’s stock valued at $532,000 after purchasing an additional 279 shares during the period. Geode Capital Management LLC boosted its holdings in American Express by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 8,486,121 shares of the payment services company’s stock worth $807,358,000 after purchasing an additional 459,983 shares in the last quarter. First Citizens Bank & Trust Co. boosted its holdings in American Express by 9.7% in the first quarter. First Citizens Bank & Trust Co. now owns 3,419 shares of the payment services company’s stock worth $374,000 after purchasing an additional 301 shares in the last quarter. Sciencast Management LP boosted its holdings in American Express by 245.3% in the first quarter. Sciencast Management LP now owns 22,100 shares of the payment services company’s stock worth $2,432,000 after purchasing an additional 15,700 shares in the last quarter. Finally, Ropes Wealth Advisors LLC boosted its holdings in American Express by 4.1% in the first quarter. Ropes Wealth Advisors LLC now owns 8,646 shares of the payment services company’s stock worth $945,000 after purchasing an additional 341 shares in the last quarter. Hedge funds and other institutional investors own 84.26% of the company’s stock.

In other American Express news, Chairman Stephen J. Squeri sold 101,964 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $119.95, for a total value of $12,230,581.80. Following the transaction, the chairman now directly owns 258,948 shares of the company’s stock, valued at $31,060,812.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Laureen Seeger sold 44,584 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $119.25, for a total transaction of $5,316,642.00. Following the completion of the transaction, the insider now directly owns 80,375 shares in the company, valued at $9,584,718.75. The disclosure for this sale can be found here. Insiders have sold 190,548 shares of company stock worth $22,910,322 over the last three months. 0.21% of the stock is owned by insiders.

A number of equities research analysts recently issued reports on the stock. William Blair reiterated an “outperform” rating on shares of American Express in a report on Tuesday, June 18th. JPMorgan Chase & Co. decreased their price target on shares of American Express from $135.00 to $132.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Stephens set a $131.00 price target on shares of American Express and gave the company a “buy” rating in a report on Monday, May 20th. Wells Fargo & Co upped their price target on shares of American Express from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Wednesday, July 10th. Finally, Deutsche Bank began coverage on shares of American Express in a report on Monday, July 8th. They set a “buy” rating and a $142.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. American Express currently has a consensus rating of “Hold” and a consensus price target of $124.49.

NYSE AXP opened at $126.32 on Wednesday. The firm has a market capitalization of $102.84 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The business’s 50 day moving average price is $125.59. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.50. American Express has a 1-year low of $89.05 and a 1-year high of $129.34.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, July 19th. The payment services company reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.02. American Express had a net margin of 16.60% and a return on equity of 29.75%. The company had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.82 billion. During the same quarter last year, the business posted $1.84 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. Research analysts expect that American Express will post 8.14 earnings per share for the current year.

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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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

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