Heritage Wealth Management LLC boosted its holdings in shares of American Express (NYSE:AXP) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,244 shares of the payment services company’s stock after acquiring an additional 495 shares during the period. American Express comprises 0.6% of Heritage Wealth Management LLC’s portfolio, making the stock its 27th largest holding. Heritage Wealth Management LLC’s holdings in American Express were worth $1,693,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cowen Prime Advisors LLC purchased a new stake in shares of American Express during the second quarter worth about $33,000. Mark Sheptoff Financial Planning LLC purchased a new stake in American Express in the first quarter valued at approximately $35,000. Burleson & Company LLC purchased a new stake in American Express in the first quarter valued at approximately $37,000. Baldrige Asset Management LLC purchased a new stake in American Express in the second quarter valued at approximately $39,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in American Express in the second quarter valued at approximately $50,000. Institutional investors own 84.62% of the company’s stock.
In other American Express news, insider Marc D. Gordon sold 13,424 shares of the firm’s stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $159.24, for a total transaction of $2,137,637.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey C. Campbell sold 74,677 shares of the firm’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $170.48, for a total value of $12,730,934.96. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.
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 Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $9.59 billion. During the same quarter in the previous year, the company earned $0.29 earnings per share. The firm’s quarterly revenue was up 33.5% compared to the same quarter last year. On average, analysts expect that American Express will post 8.82 EPS for the current fiscal year.
A number of research firms recently issued reports on AXP. BMO Capital Markets boosted their target price on shares of American Express from $135.00 to $151.00 and gave the company a “market perform” rating in a report on Monday, July 26th. They noted that the move was a valuation call. began coverage on shares of American Express in a research note on Friday, July 9th. They set a “neutral” rating and a $183.00 price objective for the company. Morgan Stanley decreased their price objective on shares of American Express from $200.00 to $195.00 and set an “overweight” rating for the company in a research note on Thursday, September 16th. Barclays boosted their price objective on shares of American Express from $155.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Monday, July 26th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $160.00 price objective on shares of American Express in a research note on Monday, June 7th. 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. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $167.72.
About American Express
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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