Schwab Charles Investment Management Inc. raised its position in shares of American Express Company (NYSE:AXP) by 3.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 2,619,553 shares of the payment services company’s stock after buying an additional 85,833 shares during the period. Schwab Charles Investment Management Inc.’s holdings in American Express were worth $207,233,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AXP. MCF Advisors LLC boosted its stake in 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 during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in 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 during the period. Accredited Investors Inc. boosted its stake in 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 during the period. Wagner Bowman Management Corp boosted its stake in 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 during the period. Finally, Citizens Financial Group Inc. RI boosted its stake in 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 during the period. Institutional investors and hedge funds own 83.81% of the company’s stock.

Shares of American Express Company (NYSE AXP) traded down 0.32% during mid-day trading on Friday, hitting $84.29. The stock had a trading volume of 3,078,650 shares. The stock has a market cap of $74.51 billion, a P/E ratio of 17.29 and a beta of 1.18. American Express Company has a 12 month low of $59.50 and a 12 month high of $86.67. The firm has a 50 day moving average price of $84.79 and a 200-day moving average price of $80.22.

American Express (NYSE:AXP) last announced its earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. The business had revenue of $8.31 billion for 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%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.10 EPS. On average, equities research analysts forecast that American Express Company will post $5.74 EPS for the current year.

American Express declared that its Board of Directors has approved 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 repurchase up to 5.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

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A number of research firms recently weighed in on AXP. Nomura upgraded American Express from a “reduce” rating to a “neutral” rating and increased their price target for the company from $63.00 to $78.00 in a research note on Thursday, April 27th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $93.00 price target (down previously from $97.00) on shares of American Express in a research note on Friday, April 21st. BidaskClub upgraded American Express from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. BMO Capital Markets reiterated a “hold” rating and set a $84.00 price objective on shares of American Express in a research report on Thursday, June 1st. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $80.00 price objective on shares of American Express in a research report on Sunday, May 21st. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have issued a buy rating to the stock. The stock 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 dated 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 SEC, which can be accessed through this link. Also, Vice Chairman Stephen J. Squeri sold 94,792 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $85.41, for a total value of $8,096,184.72. Following the completion of the transaction, the insider now owns 261,665 shares in the company, valued at $22,348,807.65. The disclosure for this sale can be found here. Insiders sold a total of 948,287 shares of company stock worth $80,321,961 over the last 90 days. 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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