American Express Company (AXP) Shares Sold by Strategic Global Advisors LLC
Strategic Global Advisors LLC cut its stake in shares of American Express Company (NYSE:AXP) by 6.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 26,695 shares of the payment services company’s stock after selling 1,872 shares during the period. Strategic Global Advisors LLC’s holdings in American Express were worth $2,112,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. Rothschild Investment Corp IL boosted its position in 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 valued at $419,000 after buying an additional 120 shares during the period. 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. 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. Bronfman E.L. Rothschild L.P. raised its stake in shares of 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 worth $405,000 after buying an additional 128 shares in the last quarter. Finally, TNB Financial acquired a new stake in shares of American Express during the first quarter worth approximately $794,000. Institutional investors own 83.81% of the company’s stock.
Shares of American Express Company (NYSE:AXP) traded down 0.42% on Wednesday, reaching $85.58. 310,143 shares of the company were exchanged. The firm has a market capitalization of $75.65 billion, a PE ratio of 17.55 and a beta of 1.18. American Express Company has a 12-month low of $59.50 and a 12-month high of $86.33. The stock’s 50-day moving average is $84.33 and its 200 day moving average is $79.91.
American Express (NYSE:AXP) last issued its earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.03. The business had revenue of $8.31 billion during the quarter, compared to analyst estimates of $8.20 billion. American Express had a return on equity of 21.90% and a net margin of 14.11%. American Express’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.10 earnings per share. On average, analysts forecast that American Express Company will post $5.74 EPS for the current year.
American Express announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that permits the company to repurchase $4.40 billion in shares. This repurchase authorization permits the payment services company to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
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A number of analysts have recently commented on AXP shares. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $87.00 price objective on shares of American Express in a research report on Thursday, April 20th. Guggenheim raised shares of American Express from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $81.05 to $90.00 in a research report on Tuesday, April 25th. BidaskClub lowered shares of American Express from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. CIBC cut their price objective on shares of American Express from $97.00 to $93.00 and set an “outperform” rating on the stock in a research report on Monday, April 24th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $100.00 price objective (up previously from $99.00) 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 assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $84.77.
In other American Express news, EVP Marc D. Gordon sold 4,900 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was 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 Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 5,981 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $85.88, for a total value of $513,648.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 948,287 shares of company stock valued at $80,321,961. 0.67% of the stock is owned by insiders.
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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