Pinnacle Wealth Management Advisory Group LLC Has $1.09 Million Position in American Express Company (AXP)

Pinnacle Wealth Management Advisory Group LLC reduced its position in American Express Company (NYSE:AXP) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,800 shares of the payment services company’s stock after selling 390 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in American Express were worth $1,092,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. MCF Advisors LLC raised its position in American Express by 0.5% during the first quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock valued at $101,000 after purchasing an additional 6 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in American Express by 0.4% during the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,641 shares of the payment services company’s stock valued at $209,000 after purchasing an additional 10 shares during the period. Accredited Investors Inc. raised its position in American Express by 0.5% during the first quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock valued at $251,000 after purchasing an additional 15 shares during the period. Citizens Financial Group Inc. RI raised its position in American Express by 0.4% during the first quarter. Citizens Financial Group Inc. RI now owns 10,925 shares of the payment services company’s stock valued at $865,000 after purchasing an additional 42 shares during the period. Finally, Financial Architects Inc grew its stake in shares of American Express by 2.0% during the first quarter. Financial Architects Inc now owns 2,551 shares of the payment services company’s stock valued at $202,000 after buying an additional 50 shares during the last quarter. Institutional investors own 82.77% of the company’s stock.

Shares of American Express Company (NYSE AXP) opened at 88.40 on Friday. The stock’s 50 day moving average price is $85.80 and its 200-day moving average price is $81.62. American Express Company has a 52-week low of $59.50 and a 52-week high of $89.23. The firm has a market capitalization of $78.14 billion, a PE ratio of 18.13 and a beta of 1.18.

American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.03. The firm had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.20 billion. American Express had a net margin of 14.11% and a return on equity of 21.90%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $2.10 earnings per share. Equities research analysts anticipate that American Express Company will post $5.74 EPS for the current fiscal year.

American Express announced that its board has approved a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $4.40 billion in outstanding shares. This repurchase authorization allows the payment services company to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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A number of research firms have recently commented on AXP. BidaskClub raised American Express from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $96.00 target price on the stock in a research note on Tuesday, August 29th. Instinet reaffirmed an “underperform” rating and set a $80.00 target price on shares of American Express in a research note on Thursday, June 29th. Barclays PLC reissued a “buy” rating and issued a $83.00 price objective on shares of American Express in a research note on Thursday, July 20th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $84.00 price objective on shares of American Express in a research note on Thursday, June 1st. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company. American Express currently has a consensus rating of “Hold” and an average target price of $86.29.

In other American Express news, insider Susan Sobbott sold 6,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $84.39, for a total transaction of $506,340.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 5,981 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $85.88, for a total transaction of $513,648.28. The disclosure for this sale can be found here. Insiders have sold 949,387 shares of company stock valued at $80,451,099 over the last three months. 0.67% of the stock is currently owned by corporate insiders.

American Express Company Profile

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

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

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