Excalibur Management Corp Sells 1,006 Shares of American Express Company (AXP)
Excalibur Management Corp lowered its stake in shares of American Express Company (NYSE:AXP) by 11.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,679 shares of the payment services company’s stock after selling 1,006 shares during the period. Excalibur Management Corp’s holdings in American Express were worth $647,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. SeaBridge Investment Advisors LLC acquired a new stake in American Express during the first quarter valued at approximately $100,000. MCF Advisors LLC increased 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 valued at $101,000 after buying an additional 6 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA increased 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 valued at $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 valued at approximately $112,000. Finally, SRS Capital Advisors Inc. increased 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 valued at $116,000 after buying an additional 138 shares during the period. 83.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of American Express Company (NYSE:AXP) traded down 0.82% on Friday, reaching $85.38. 4,271,186 shares of the company’s stock were exchanged. American Express Company has a one year low of $59.50 and a one year high of $87.78. The company has a 50 day moving average price of $85.23 and a 200 day moving average price of $80.55. The firm has a market cap of $75.47 billion, a PE ratio of 17.51 and a beta of 1.18.
American Express (NYSE:AXP) last issued its quarterly earnings data 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. The business had revenue of $8.31 billion for the quarter, compared to analysts’ expectations of $8.20 billion. American Express had a return on equity of 21.90% and a net margin of 14.11%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 EPS. Analysts expect that American Express Company will post $5.74 EPS for the current fiscal year.
American Express announced that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $4.40 billion in outstanding shares. This buyback authorization authorizes the payment services company to reacquire up to 5.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
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Several research firms have commented on AXP. BidaskClub raised shares of American Express from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Instinet reissued an “underperform” rating and issued a $80.00 price target on shares of American Express in a report on Thursday, June 29th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $94.00 price target (up from $87.00) on shares of American Express in a report on Saturday, July 22nd. Wells Fargo & Company reissued a “market perform” rating and issued a $80.00 price target on shares of American Express in a report on Sunday, May 21st. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $100.00 price target (up from $99.00) on shares of American Express in a report on Saturday, July 22nd. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $84.77.
In related news, insider Anre D. Williams sold 53,111 shares of the stock in a transaction on 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 sale, the insider now owns 79,614 shares in the company, valued at approximately $6,786,297.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $377,202.00. The disclosure for this sale can be found here. Insiders have sold a total of 948,287 shares of company stock worth $80,321,961 over the last ninety days. 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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