Oppenheimer & Co. Inc. raised its position in shares of American Express Company (NYSE:AXP) by 0.1% during the first quarter, Holdings Channel reports. The institutional investor owned 103,282 shares of the payment services company’s stock after buying an additional 69 shares during the period. Oppenheimer & Co. Inc.’s holdings in American Express were worth $8,171,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AXP. MCF Advisors LLC boosted its stake in shares of American Express by 0.5% in the first quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock worth $101,000 after buying an additional 6 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in shares of 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 worth $209,000 after buying an additional 10 shares in the last quarter. Accredited Investors Inc. boosted its stake in shares of American Express by 0.5% in the first quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock worth $251,000 after buying an additional 15 shares in 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 worth $615,000 after buying an additional 22 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its stake in shares of American Express by 0.4% in the first quarter. Citizens Financial Group Inc. RI now owns 10,925 shares of the payment services company’s stock worth $865,000 after buying an additional 42 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.

American Express Company (NYSE AXP) traded down 0.77% during trading on Thursday, reaching $85.03. 644,864 shares of the company’s stock traded hands. The company has a 50-day moving average price of $84.67 and a 200 day moving average price of $80.13. The firm has a market capitalization of $75.16 billion, a PE ratio of 17.44 and a beta of 1.18. American Express Company has a one year low of $59.50 and a one year high of $86.67.

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 the consensus estimate of $1.44 by $0.03. The firm had revenue of $8.31 billion for the quarter, compared to analysts’ expectations of $8.20 billion. American Express had a net margin of 15.80% and a return on equity of 24.96%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.10 EPS. On average, analysts anticipate 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 authorized a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $4.40 billion in outstanding shares. This buyback authorization permits the payment services company to buy up to 5.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

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A number of brokerages have commented on AXP. Nomura raised shares of 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 report on Thursday, April 27th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $93.00 price objective (down from $97.00) on shares of American Express in a research note on Friday, April 21st. BidaskClub raised shares of American Express from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. BMO Capital Markets reissued a “hold” rating and issued a $84.00 price objective on shares of American Express in a research note on Thursday, June 1st. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $80.00 price objective on shares of American Express in a research note on Sunday, May 21st. 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 stock presently has a consensus rating of “Hold” and an average target price of $84.77.

In other news, insider Paul D. Fabara sold 5,981 shares of the business’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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Marc D. Gordon sold 4,900 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $76.98, for a total transaction of $377,202.00. 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. Corporate insiders own 0.67% of the company’s stock.

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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