American Express Company (NYSE:AXP) Shares Bought by Stellar Capital Management LLC
Stellar Capital Management LLC increased its position in American Express Company (NYSE:AXP) by 0.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,790 shares of the payment services company’s stock after buying an additional 1 shares during the period. Stellar Capital Management LLC’s holdings in American Express were worth $458,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of AXP. SeaBridge Investment Advisors LLC bought a new position in American Express during the first quarter worth $100,000. MCF Advisors LLC boosted its position 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 last quarter. SpiderRock Advisors LLC bought a new position in American Express during the first quarter worth $112,000. SRS Capital Advisors Inc. boosted its position in American Express by 10.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after buying an additional 138 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its position in American Express by 36.7% in the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after buying an additional 410 shares during the last quarter. 83.81% of the stock is owned by hedge funds and other institutional investors.
Shares of American Express Company (NYSE AXP) traded down 0.32% on Friday, reaching $84.29. 3,078,650 shares of the company’s stock traded hands. The stock has a market capitalization of $74.51 billion, a PE ratio of 17.29 and a beta of 1.18. American Express Company has a 52 week low of $59.50 and a 52 week high of $86.67. The company has a 50 day moving average of $84.79 and a 200-day moving average of $80.22.
American Express (NYSE:AXP) last issued its earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.03. The company had revenue of $8.31 billion for the quarter, compared to analysts’ expectations of $8.20 billion. American Express had a net margin of 14.11% and a return on equity of 21.90%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.10 earnings per share. Equities research analysts forecast that American Express Company will post $5.74 earnings per share for the current year.
American Express announced that its board has authorized a share buyback program on Wednesday, June 28th that permits the company to repurchase $4.40 billion in outstanding 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 generally an indication that the company’s leadership believes its shares are undervalued.
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A number of research firms recently weighed in on AXP. BidaskClub raised shares of American Express from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $94.00 price target (up previously from $87.00) on shares of American Express in a research report on Saturday, July 22nd. Instinet reissued an “underperform” rating and issued a $80.00 price target on shares of American Express in a research report on Thursday, June 29th. Jefferies Group LLC reissued a “hold” rating and issued a $85.00 price target on shares of American Express in a research report on Saturday, July 22nd. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $100.00 price target (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 assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. American Express has a consensus rating of “Hold” and a consensus target price of $84.77.
In other American Express news, EVP Marc D. Gordon sold 4,900 shares of the stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $76.98, for a total transaction of $377,202.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Kenneth I. Chenault sold 789,503 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $84.62, for a total transaction of $66,807,743.86. Following the sale, the chief executive officer now directly owns 889,836 shares in the company, valued at $75,297,922.32. The disclosure for this sale can be found here. Insiders have sold 948,287 shares of company stock worth $80,321,961 over the last three months. 0.67% of the stock is owned by corporate 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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