Investment House LLC Has $743,000 Position in American Express Company (NYSE:AXP)
Investment House LLC continued to hold its stake in shares of American Express Company (NYSE:AXP) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,825 shares of the payment services company’s stock at the end of the second quarter. Investment House LLC’s holdings in American Express were worth $743,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. SeaBridge Investment Advisors LLC bought a new stake in shares of American Express during the first quarter worth about $100,000. MCF Advisors LLC raised 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. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after buying an additional 300 shares during the period. SpiderRock Advisors LLC acquired a new stake in American Express during the first quarter worth $112,000. Finally, SRS Capital Advisors Inc. raised its stake 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 period. 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% during trading on Friday, reaching $84.29. 3,078,650 shares of the company traded hands. The company has a market capitalization of $74.51 billion, a price-to-earnings ratio of 17.29 and a beta of 1.18. The stock’s 50 day moving average is $84.79 and its 200 day moving average is $80.22. American Express Company has a 1-year low of $59.50 and a 1-year high of $86.67.
American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.44 by $0.03. The company 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 firm’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 earnings per share. On average, analysts forecast that American Express Company will post $5.74 EPS for the current year.
American Express declared that its board has approved a stock repurchase program 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 programs are typically an indication that the company’s leadership believes its stock is undervalued.
A number of analysts recently weighed in on the stock. Credit Suisse Group reaffirmed a “sell” rating on shares of American Express in a research note on Wednesday, July 19th. Barclays PLC reaffirmed a “buy” rating and issued a $83.00 price objective on shares of American Express in a research note on Thursday, July 20th. BidaskClub raised shares of American Express from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. 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. Finally, 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. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have given a buy rating to the stock. American Express presently has a consensus rating of “Hold” and a consensus price target of $84.77.
In other American Express news, EVP Marc D. Gordon sold 4,900 shares of American Express stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $76.98, for a total transaction of $377,202.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anre D. Williams sold 53,111 shares of American Express stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $85.24, for a total value of $4,527,181.64. Following the transaction, the insider now directly owns 79,614 shares in the company, valued at approximately $6,786,297.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 948,287 shares of company stock worth $80,321,961. 0.67% of the stock is currently 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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