First Quadrant L P CA reduced its position in American Express Company (NYSE:AXP) by 30.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,367 shares of the payment services company’s stock after selling 25,992 shares during the period. First Quadrant L P CA’s holdings in American Express were worth $5,085,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Rothschild Investment Corp IL increased its stake in shares of American Express by 2.3% in the first quarter. Rothschild Investment Corp IL now owns 5,297 shares of the payment services company’s stock worth $419,000 after buying an additional 120 shares in the last quarter. Trust Co. of Vermont boosted its position in American Express by 5.0% in the first quarter. Trust Co. of Vermont now owns 17,289 shares of the payment services company’s stock valued at $1,367,000 after buying an additional 819 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in American Express by 2.6% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,115 shares of the payment services company’s stock valued at $405,000 after buying an additional 128 shares during the period. Victory Capital Management Inc. boosted its position in American Express by 14.2% in the first quarter. Victory Capital Management Inc. now owns 31,949 shares of the payment services company’s stock valued at $2,527,000 after buying an additional 3,968 shares during the period. Finally, LS Investment Advisors LLC boosted its position in American Express by 0.8% in the first quarter. LS Investment Advisors LLC now owns 25,569 shares of the payment services company’s stock valued at $2,023,000 after buying an additional 206 shares during the period. Hedge funds and other institutional investors own 83.86% of the company’s stock.
Shares of American Express Company (NYSE:AXP) opened at 87.39 on Thursday. The firm has a market cap of $77.25 billion, a PE ratio of 17.92 and a beta of 1.18. American Express Company has a 52-week low of $59.50 and a 52-week high of $87.78. The firm has a 50-day moving average of $85.12 and a 200 day moving average of $80.45.
American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.03. The firm had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.20 billion. American Express had a return on equity of 21.90% and a net margin of 14.11%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the company posted $2.10 EPS. On average, equities analysts predict that American Express Company will post $5.74 earnings per share for the current year.
American Express declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $4.40 billion in outstanding shares. This repurchase authorization authorizes the payment services company to purchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
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Several research analysts have commented on AXP shares. Jefferies Group LLC restated a “hold” rating and issued a $85.00 target price on shares of American Express in a research report on Saturday, July 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $100.00 price target (up from $99.00) on shares of American Express in a research note on Saturday, July 22nd. Guggenheim raised shares of American Express from a “neutral” rating to a “buy” rating and upped their price target for the stock from $81.05 to $90.00 in a research note on Tuesday, April 25th. Credit Suisse Group reissued a “sell” rating on shares of American Express in a research note on Wednesday, July 19th. Finally, Nomura raised shares of American Express from a “reduce” rating to a “neutral” rating and increased their target price for the company from $63.00 to $78.00 in a research note on Thursday, April 27th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $84.77.
In related news, insider Anre D. Williams sold 53,111 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $85.24, for a total value of $4,527,181.64. Following the completion of the sale, the insider now owns 79,614 shares in the company, valued at approximately $6,786,297.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Stephen J. Squeri sold 94,792 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $85.41, for a total value of $8,096,184.72. Following the completion of the sale, the insider now owns 261,665 shares of the company’s stock, valued at approximately $22,348,807.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 948,287 shares of company stock valued at $80,321,961. Corporate insiders own 0.67% of the company’s stock.
About American Express
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).
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