American Express Company (NYSE:AXP) Position Decreased by Two Sigma Securities LLC
Two Sigma Securities LLC cut its stake in shares of American Express Company (NYSE:AXP) by 25.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,862 shares of the payment services company’s stock after selling 986 shares during the period. Two Sigma Securities LLC’s holdings in American Express were worth $226,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Sheets Smith Wealth Management increased its position in American Express by 2.7% in the first quarter. Sheets Smith Wealth Management now owns 6,461 shares of the payment services company’s stock valued at $511,000 after buying an additional 167 shares during the last quarter. Quadrant Capital Group LLC increased its position in American Express by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 43,094 shares of the payment services company’s stock valued at $3,400,000 after buying an additional 183 shares during the last quarter. Country Club Trust Company n.a. purchased a new position in American Express during the first quarter valued at $525,000. Carroll Financial Associates Inc. increased its position in American Express by 1,160.0% in the first quarter. Carroll Financial Associates Inc. now owns 47,312 shares of the payment services company’s stock valued at $3,742,000 after buying an additional 43,557 shares during the last quarter. Finally, Pennsylvania Trust Co increased its position in American Express by 5.5% in the first quarter. Pennsylvania Trust Co now owns 55,668 shares of the payment services company’s stock valued at $4,404,000 after buying an additional 2,895 shares during the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.
Shares of American Express Company (AXP) traded down 0.20% during mid-day trading on Friday, hitting $84.39. The stock had a trading volume of 1,134,173 shares. American Express Company has a one year low of $59.50 and a one year high of $86.67. The firm’s 50 day moving average price is $84.73 and its 200-day moving average price is $80.16. The company has a market cap of $74.60 billion, a PE ratio of 17.31 and a beta of 1.18.
American Express (NYSE:AXP) last posted its quarterly 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. 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 analyst estimates of $8.20 billion. During the same quarter in the prior year, the business posted $2.10 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts anticipate that American Express Company will post $5.74 earnings per share for the current fiscal year.
American Express announced that its board has authorized a stock buyback program on Wednesday, June 28th that permits the company to buyback $4.40 billion in shares. This buyback authorization permits the payment services company to reacquire up to 5.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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Several equities analysts recently weighed in on the company. BidaskClub raised American Express from a “sell” rating to a “hold” rating in a research note on Tuesday. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $100.00 price objective (up from $99.00) on shares of American Express in a research note on Saturday, July 22nd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $85.00 price objective on shares of American Express in a research note on Saturday, July 22nd. Guggenheim reaffirmed a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of American Express in a research note on Saturday, July 22nd. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $94.00 price objective (up from $87.00) on shares of American Express in a research note on Saturday, July 22nd. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have given a buy rating to the stock. American Express presently has a consensus rating of “Hold” and an average target price of $84.77.
In related news, EVP Marc D. Gordon sold 4,900 shares of the 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 transaction 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 stock in a transaction dated 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 completion of 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 948,287 shares of company stock valued at $80,321,961 in the last three months. Company 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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