Robecosam AG increased its holdings in American Express (NYSE:AXP) by 4.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,061 shares of the payment services company’s stock after purchasing an additional 3,520 shares during the quarter. Robecosam AG’s holdings in American Express were worth $7,376,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in AXP. Destination Wealth Management grew its position in American Express by 165.4% in the second quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock worth $104,000 after acquiring an additional 660 shares in the last quarter. Archford Capital Strategies LLC bought a new stake in American Express in the first quarter worth approximately $123,000. Private Ocean LLC lifted its stake in shares of American Express by 14,070.0% in the first quarter. Private Ocean LLC now owns 1,417 shares of the payment services company’s stock worth $132,000 after buying an additional 1,407 shares during the last quarter. Kiley Juergens Wealth Management LLC acquired a new stake in shares of American Express in the second quarter worth $148,000. Finally, Guidant Wealth Advisors lifted its stake in shares of American Express by 280.7% in the second quarter. Guidant Wealth Advisors now owns 807 shares of the payment services company’s stock worth $150,000 after buying an additional 595 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.
Shares of NYSE:AXP traded up $0.90 during mid-day trading on Friday, reaching $109.56. The stock had a trading volume of 2,988,941 shares, compared to its average volume of 2,556,955. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market capitalization of $92.89 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 1.49 and a beta of 1.17. American Express has a twelve month low of $86.07 and a twelve month high of $110.01.
American Express declared that its board has approved a share buyback program on Thursday, June 28th that authorizes the company to buyback $3.40 billion in shares. This buyback authorization authorizes the payment services company to purchase up to 4.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
In related news, CFO Jeffrey C. Campbell sold 9,000 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $99.73, for a total value of $897,570.00. Following the completion of the transaction, the chief financial officer now directly owns 66,568 shares of the company’s stock, valued at $6,638,826.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $99.73, for a total transaction of $1,246,625.00. Following the completion of the transaction, the chief executive officer now directly owns 191,971 shares of the company’s stock, valued at $19,145,267.83. The disclosure for this sale can be found here. Insiders have sold a total of 47,448 shares of company stock valued at $4,942,168 over the last ninety days. Company insiders own 0.20% of the company’s stock.
AXP has been the subject of a number of analyst reports. DZ Bank upgraded shares of American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. UBS Group upgraded shares of American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Buckingham Research upgraded shares of American Express from a “neutral” rating to a “buy” rating and upped their target price for the company from $111.00 to $112.00 in a research note on Friday, June 29th. Oppenheimer set a $113.00 target price on shares of American Express and gave the company a “buy” rating in a research note on Wednesday, July 18th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $105.00 price objective on shares of American Express in a research note on Monday, July 16th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $108.83.
American Express Company 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 four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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