Glenmede Trust Co. NA maintained its stake in shares of American Express Company (NYSE:AXP) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 511,239 shares of the payment services company’s stock at the close of the first quarter. Glenmede Trust Co. NA owned 0.06% of American Express worth $37,871,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Matthew Goff Investment Advisor LLC acquired a new stake in American Express during the first quarter worth about $2,543,000. Rothschild Asset Management Inc. raised its stake in American Express by 19.5% during the first quarter. Rothschild Asset Management Inc. now owns 641,409 shares of the payment services company’s stock worth $50,742,000 after acquiring an additional 104,647 shares during the period. Vanguard Group Inc. raised its stake in American Express by 1.5% during the first quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock worth $3,916,145,000 after acquiring an additional 722,235 shares during the period. Trust Co. of Vermont raised its stake in American Express by 5.0% during the first quarter. Trust Co. of Vermont now owns 17,289 shares of the payment services company’s stock worth $1,367,000 after acquiring an additional 819 shares during the period. Finally, Bronfman E.L. Rothschild L.P. raised its stake in American Express by 2.6% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,115 shares of the payment services company’s stock worth $405,000 after acquiring an additional 128 shares during the period. Hedge funds and other institutional investors own 82.80% of the company’s stock.
Shares of American Express Company (AXP) traded up 0.737% during mid-day trading on Friday, reaching $86.825. 2,944,563 shares of the company were exchanged. The stock has a market capitalization of $76.75 billion, a P/E ratio of 17.807 and a beta of 1.18. The firm has a 50-day moving average price of $85.52 and a 200 day moving average price of $81.45. American Express Company has a 12 month low of $59.50 and a 12 month high of $87.78.
American Express (NYSE:AXP) last released 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. American Express had a net margin of 14.11% and a return on equity of 21.90%. The firm had revenue of $8.31 billion during the quarter, compared to analyst estimates of $8.20 billion. During the same quarter last year, the business earned $2.10 EPS. The company’s revenue was up .9% compared to the same quarter last year. 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 authorized a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $4.40 billion in shares. This repurchase authorization authorizes the payment services company to buy up to 5.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
COPYRIGHT VIOLATION NOTICE: “American Express Company (NYSE:AXP) Stake Maintained by Glenmede Trust Co. NA” was originally published by BBNS and is the sole property of of BBNS. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and international copyright law. The correct version of this story can be accessed at https://baseballnewssource.com/markets/american-express-company-axp-stake-maintained-by-glenmede-trust-co-na/1605040.html.
In other American Express news, insider Paul D. Fabara sold 5,981 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $85.88, for a total transaction of $513,648.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Susan Sobbott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $84.39, for a total transaction of $506,340.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 949,387 shares of company stock valued at $80,451,099. Company insiders own 0.67% of the company’s stock.
Several equities research analysts recently weighed in on AXP shares. Wells Fargo & Company reiterated a “market perform” rating and set a $80.00 price objective on shares of American Express in a research note on Sunday, May 21st. BMO Capital Markets restated a “hold” rating and issued a $84.00 price target on shares of American Express in a research note on Thursday, June 1st. BidaskClub upgraded shares of American Express from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Stephens upgraded shares of American Express from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $70.00 to $82.00 in a research note on Tuesday, June 20th. Finally, Instinet restated an “underperform” rating and issued a $80.00 price target on shares of American Express in a research note on Thursday, June 29th. 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 has a consensus rating of “Hold” and an average target price of $86.29.
American Express 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).
Receive News & Ratings for American Express Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express Company and related companies with our FREE daily email newsletter.