Robinson Value Management Ltd. grew its position in shares of American Express Company (NYSE:AXP) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,770 shares of the payment services company’s stock after acquiring an additional 766 shares during the quarter. American Express comprises 2.1% of Robinson Value Management Ltd.’s portfolio, making the stock its 15th biggest position. Robinson Value Management Ltd.’s holdings in American Express were worth $2,255,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. MCF Advisors LLC increased its stake in American Express by 0.5% during the first quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock worth $101,000 after acquiring an additional 6 shares during the last quarter. SpiderRock Advisors LLC acquired a new stake in American Express during the first quarter worth about $112,000. SRS Capital Advisors Inc. increased its stake in American Express by 10.3% during the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after acquiring an additional 138 shares during the last quarter. Westside Investment Management Inc. increased its stake in American Express by 36.7% during the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after acquiring an additional 410 shares during the last quarter. Finally, Clean Yield Group acquired a new stake in American Express during the first quarter worth about $175,000. Institutional investors own 82.80% of the company’s stock.

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In other news, CEO Kenneth I. Chenault sold 789,503 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $84.62, for a total value of $66,807,743.86. Following the transaction, the chief executive officer now directly owns 889,836 shares of the company’s stock, valued at approximately $75,297,922.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Stephen J. Squeri sold 94,792 shares of the business’s stock in a transaction that occurred on 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 directly owns 261,665 shares in the company, valued at $22,348,807.65. The disclosure for this sale can be found here. Insiders have sold 949,387 shares of company stock worth $80,451,099 over the last ninety days. Company insiders own 0.67% of the company’s stock.

Several equities research analysts have commented on AXP shares. Morgan Stanley dropped their price target on American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a research note on Friday, September 8th. BidaskClub lowered American Express from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Sanford C. Bernstein restated an “outperform” rating and set a $100.00 price target (up from $99.00) on shares of American Express in a research note on Saturday, July 22nd. Finally, Guggenheim restated a “buy” rating and set a $95.00 price target (up from $90.00) on shares of American Express in a research note on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $86.29.

Shares of American Express Company (AXP) remained flat at $86.55 during mid-day trading on Wednesday. The company had a trading volume of 1,015,840 shares. The stock’s 50 day moving average price is $85.46 and its 200 day moving average price is $81.37. The company has a market capitalization of $76.51 billion, a PE ratio of 17.75 and a beta of 1.18. American Express Company has a 1-year low of $59.50 and a 1-year high of $87.78.

American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.03. The company had revenue of $8.31 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $2.10 earnings per share. Equities research analysts predict that American Express Company will post $5.74 earnings per share for the current year.

American Express declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $4.40 billion in outstanding shares. This repurchase authorization allows the payment services company to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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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