Zurich Insurance Group Ltd FI Raises Position in American Express (NYSE:AXP)

Zurich Insurance Group Ltd FI raised its holdings in shares of American Express (NYSE:AXP) by 61.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 199,046 shares of the payment services company’s stock after acquiring an additional 75,591 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in American Express were worth $24,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of AXP. Morgan Stanley lifted its stake in shares of American Express by 16.2% during the 2nd quarter. Morgan Stanley now owns 5,253,506 shares of the payment services company’s stock valued at $648,492,000 after buying an additional 731,450 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in American Express by 5.9% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 20,727 shares of the payment services company’s stock worth $2,559,000 after purchasing an additional 1,162 shares in the last quarter. AQR Capital Management LLC lifted its stake in American Express by 46.7% in the 2nd quarter. AQR Capital Management LLC now owns 517,740 shares of the payment services company’s stock worth $63,910,000 after purchasing an additional 164,864 shares in the last quarter. Paloma Partners Management Co lifted its stake in American Express by 153.1% in the 2nd quarter. Paloma Partners Management Co now owns 134,647 shares of the payment services company’s stock worth $16,621,000 after purchasing an additional 81,455 shares in the last quarter. Finally, Eminence Capital LP lifted its stake in American Express by 2.9% in the 2nd quarter. Eminence Capital LP now owns 296,515 shares of the payment services company’s stock worth $36,602,000 after purchasing an additional 8,294 shares in the last quarter. Institutional investors and hedge funds own 83.85% of the company’s stock.

AXP has been the topic of several research analyst reports. Royal Bank of Canada boosted their price target on shares of American Express from $120.00 to $125.00 and gave the stock a “sector perform” rating in a research note on Monday, July 22nd. They noted that the move was a valuation call. Morgan Stanley set a $142.00 price target on shares of American Express and gave the stock a “buy” rating in a research note on Friday, August 9th. Jefferies Financial Group set a $130.00 price target on shares of American Express and gave the stock a “hold” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. decreased their price target on shares of American Express from $135.00 to $132.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Finally, William Blair restated an “outperform” rating on shares of American Express in a report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $124.49.

NYSE:AXP traded down $0.78 during mid-day trading on Friday, hitting $117.01. 161,050 shares of the stock traded hands, compared to its average volume of 3,499,963. The stock has a market capitalization of $97.90 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.44 and a beta of 1.06. American Express has a 52 week low of $89.05 and a 52 week high of $129.34. The firm’s 50 day moving average is $121.32 and its two-hundred day moving average is $118.75. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 2.50.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $2.07 EPS for the quarter, beating the consensus estimate of $2.05 by $0.02. The company had revenue of $10.84 billion for the quarter, compared to the consensus estimate of $10.82 billion. American Express had a net margin of 16.60% and a return on equity of 29.75%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 EPS. As a group, research analysts predict that American Express will post 8.14 EPS for the current year.

In other American Express news, CEO Stephen J. Squeri sold 15,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.33, for a total value of $1,774,950.00. Following the completion of the sale, the chief executive officer now directly owns 199,609 shares of the company’s stock, valued at approximately $23,619,732.97. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 15,455 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $127.06, for a total transaction of $1,963,712.30. Following the completion of the sale, the insider now directly owns 35,931 shares of the company’s stock, valued at $4,565,392.86. The disclosure for this sale can be found here. Insiders have sold a total of 37,500 shares of company stock worth $4,618,653 over the last quarter. 0.21% of the stock is currently owned by insiders.

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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