Gofen & Glossberg LLC IL Acquires 1,349 Shares of American Express Company (AXP)

Gofen & Glossberg LLC IL raised its stake in American Express Company (NYSE:AXP) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 457,331 shares of the payment services company’s stock after buying an additional 1,349 shares during the period. American Express makes up about 1.4% of Gofen & Glossberg LLC IL’s investment portfolio, making the stock its 19th largest position. Gofen & Glossberg LLC IL’s holdings in American Express were worth $36,179,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AXP. MCF Advisors LLC increased its position in American Express by 0.5% in the first quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock valued at $101,000 after buying an additional 6 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in American Express by 0.4% in 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 buying an additional 10 shares during the last quarter. Accredited Investors Inc. increased its position in American Express by 0.5% in the first quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock valued at $251,000 after buying an additional 15 shares during the last quarter. Wagner Bowman Management Corp boosted its stake in shares of American Express by 0.3% in the first quarter. Wagner Bowman Management Corp now owns 7,775 shares of the payment services company’s stock valued at $615,000 after buying an additional 22 shares during the period. Finally, Financial Architects Inc boosted its stake in shares of American Express by 2.0% in 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 period. Hedge funds and other institutional investors own 83.86% of the company’s stock.

American Express Company (NYSE AXP) opened at 85.38 on Friday. The stock’s 50 day moving average price is $85.23 and its 200 day moving average price is $80.55. American Express Company has a one year low of $59.50 and a one year high of $87.78. The firm has a market capitalization of $75.47 billion, a PE ratio of 17.51 and a beta of 1.18.

American Express (NYSE:AXP) last issued its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $8.20 billion. During the same quarter in the prior year, the firm earned $2.10 EPS. The company’s revenue was up .9% on a year-over-year basis. Analysts expect that American Express Company will post $5.74 EPS for the current year.

American Express declared that its Board of Directors has initiated 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 buy up to 5.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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Several analysts have issued reports on the company. BidaskClub raised American Express from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $100.00 target price (up previously from $99.00) on shares of American Express in a research report on Saturday, July 22nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $85.00 target price on shares of American Express in a research report on Saturday, July 22nd. Guggenheim reaffirmed a “buy” rating and set a $95.00 target price (up previously from $90.00) on shares of American Express in a research report on Saturday, July 22nd. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $94.00 price objective (up previously from $87.00) on shares of American Express in a research report on Saturday, July 22nd. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $84.77.

In other news, EVP Marc D. Gordon sold 4,900 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $76.98, for a total value of $377,202.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 5,981 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were 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. In the last three months, insiders have sold 948,287 shares of company stock worth $80,321,961. 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).

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

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