QV Investors Inc. Trims Stake in American Express Company (NYSE:AXP)

QV Investors Inc. lowered its position in American Express Company (NYSE:AXP) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 736,389 shares of the payment services company’s stock after selling 11,760 shares during the period. American Express accounts for about 5.1% of QV Investors Inc.’s investment portfolio, making the stock its 5th largest holding. QV Investors Inc. owned about 0.08% of American Express worth $62,033,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AXP. Waldron LP bought a new position in American Express during the 1st quarter valued at approximately $246,000. Eqis Capital Management Inc. increased its position in American Express by 4.5% during the 1st quarter. Eqis Capital Management Inc. now owns 12,761 shares of the payment services company’s stock valued at $1,010,000 after buying an additional 553 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in American Express by 0.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,340,595 shares of the payment services company’s stock valued at $185,164,000 after buying an additional 15,258 shares in the last quarter. LSV Asset Management boosted its stake in American Express by 161.7% during the 1st quarter. LSV Asset Management now owns 36,900 shares of the payment services company’s stock valued at $2,919,000 after purchasing an additional 22,800 shares during the last quarter. Finally, Nwam LLC boosted its stake in American Express by 67.1% during the 1st quarter. Nwam LLC now owns 9,306 shares of the payment services company’s stock valued at $736,000 after purchasing an additional 3,737 shares during the last quarter. 82.77% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on the company. Credit Suisse Group restated a “sell” rating on shares of American Express in a research note on Wednesday, July 19th. Jefferies Group LLC restated a “hold” rating and issued a $85.00 price target on shares of American Express in a research note on Saturday, July 22nd. BidaskClub upgraded American Express from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Keefe, Bruyette & Woods set a $95.00 price target on American Express and gave the stock a “buy” rating in a research note on Saturday, August 19th. Finally, Wells Fargo & Company assumed coverage on American Express in a research report on Tuesday, October 10th. They set an “outperform” rating and a $105.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the stock. American Express has a consensus rating of “Hold” and an average target price of $87.69.

Shares of American Express Company (AXP) opened at 91.69 on Wednesday. The company has a 50 day moving average price of $88.38 and a 200-day moving average price of $83.14. American Express Company has a one year low of $59.78 and a one year high of $92.92. The stock has a market cap of $81.05 billion, a price-to-earnings ratio of 18.80 and a beta of 1.21.

American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, beating 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 company had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.20 billion. During the same quarter in the prior year, the firm earned $2.10 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts predict that American Express Company will post $5.74 earnings per share for the current fiscal year.

American Express declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $4.40 billion in shares. This buyback authorization authorizes the payment services company to buy up to 5.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Thursday, October 5th. This is an increase from American Express’s previous quarterly dividend of $0.32. American Express’s dividend payout ratio is 28.63%.

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In related news, insider James Peter Bush sold 10,230 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $90.55, for a total transaction of $926,326.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anre D. Williams sold 53,111 shares of the company’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 transaction of $4,527,181.64. Following the transaction, the insider now directly owns 79,614 shares of the company’s stock, valued at approximately $6,786,297.36. The disclosure for this sale can be found here. Insiders sold 959,617 shares of company stock worth $81,377,425 in the last ninety days. Insiders own 0.67% of the company’s stock.

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).

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

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