Columbia Asset Management decreased its position in shares of American Express Company (NYSE:AXP) by 9.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 35,642 shares of the payment services company’s stock after selling 3,774 shares during the period. Columbia Asset Management’s holdings in American Express were worth $2,819,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in American Express by 21.7% in the first quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock worth $1,360,596,000 after buying an additional 3,071,573 shares in the last quarter. First Eagle Investment Management LLC boosted its position in American Express by 1.9% in the first quarter. First Eagle Investment Management LLC now owns 16,239,276 shares of the payment services company’s stock worth $1,284,689,000 after buying an additional 305,651 shares in the last quarter. Fisher Asset Management LLC boosted its position in American Express by 2.3% in the first quarter. Fisher Asset Management LLC now owns 10,879,001 shares of the payment services company’s stock worth $860,638,000 after buying an additional 248,731 shares in the last quarter. Bank of New York Mellon Corp boosted its position in American Express by 9.4% in the first quarter. Bank of New York Mellon Corp now owns 10,274,363 shares of the payment services company’s stock worth $812,804,000 after buying an additional 879,569 shares in the last quarter. Finally, Veritas Asset Management LLP boosted its position in American Express by 4.0% in the first quarter. Veritas Asset Management LLP now owns 8,944,727 shares of the payment services company’s stock worth $707,617,000 after buying an additional 344,300 shares in the last quarter. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Express Company (NYSE AXP) traded down 0.19% during mid-day trading on Wednesday, hitting $85.78. The stock had a trading volume of 573,588 shares. The firm has a market cap of $75.83 billion, a PE ratio of 17.59 and a beta of 1.18. The stock’s 50-day moving average is $84.33 and its 200 day moving average is $79.91. American Express Company has a 12 month low of $59.50 and a 12 month high of $86.33.

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

American Express announced that its Board of Directors has authorized a share 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 purchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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AXP has been the topic of a number of analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $85.00 target price on shares of American Express in a research note on Saturday, July 22nd. 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 note on Saturday, July 22nd. Guggenheim raised American Express from a “neutral” rating to a “buy” rating and upped their target price for the company from $81.05 to $90.00 in a research note on Tuesday, April 25th. Credit Suisse Group reaffirmed a “sell” rating on shares of American Express in a research note on Wednesday, July 19th. Finally, Nomura raised American Express from a “reduce” rating to a “neutral” rating and upped their target price for the company from $63.00 to $78.00 in a research note on Thursday, April 27th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $84.77.

In related news, Vice Chairman Stephen J. Squeri sold 94,792 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were 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 directly owns 261,665 shares of the company’s stock, valued at $22,348,807.65. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Anre D. Williams sold 53,111 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $85.24, for a total transaction of $4,527,181.64. Following the completion of the sale, the insider now directly owns 79,614 shares of the company’s stock, valued at $6,786,297.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 948,287 shares of company stock valued at $80,321,961. 0.67% of the stock is owned by corporate insiders.

American Express Company 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).

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

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