Boltwood Capital Management cut its stake in shares of American Express Company (NYSE:AXP) by 7.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 23,891 shares of the payment services company’s stock after selling 1,925 shares during the period. American Express accounts for approximately 1.4% of Boltwood Capital Management’s holdings, making the stock its 16th biggest holding. Boltwood Capital Management’s holdings in American Express were worth $2,012,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MCF Advisors LLC grew its stake in shares of American Express by 0.5% during the 1st 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. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its holdings in shares of American Express by 0.4% during the 1st quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,641 shares of the payment services company’s stock valued at $209,000 after acquiring an additional 10 shares in the last quarter. Bath Savings Trust Co lifted its holdings in shares of American Express by 0.3% during the 2nd quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock valued at $369,000 after acquiring an additional 14 shares in the last quarter. Accredited Investors Inc. lifted its holdings in shares of American Express by 0.5% during the 1st quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock valued at $251,000 after acquiring an additional 15 shares in the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of American Express by 0.4% during the 1st quarter. Citizens Financial Group Inc. RI now owns 10,925 shares of the payment services company’s stock valued at $865,000 after acquiring an additional 42 shares in the last quarter. 82.80% of the stock is owned by institutional investors.

In other American Express news, CEO Kenneth I. Chenault sold 789,503 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $84.62, for a total value of $66,807,743.86. Following the completion of the sale, the chief executive officer now owns 889,836 shares in the company, valued at approximately $75,297,922.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 5,981 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $85.88, for a total transaction of $513,648.28. The disclosure for this sale can be found here. Insiders sold a total of 949,387 shares of company stock valued at $80,451,099 in the last 90 days. Corporate insiders own 0.67% of the company’s stock.

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

American Express Company (NYSE AXP) traded down 0.25% on Thursday, hitting $86.42. 1,012,108 shares of the stock traded hands. The stock has a 50-day moving average price of $85.46 and a 200 day moving average price of $81.37. The stock has a market cap of $76.39 billion, a P/E ratio of 17.72 and a beta of 1.18. American Express Company has a 12-month low of $59.50 and a 12-month high of $87.78.

American Express (NYSE:AXP) last posted its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.03. The firm had revenue of $8.31 billion during 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 company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $2.10 EPS. On average, equities 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 repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $4.40 billion in shares. This repurchase authorization authorizes the payment services company to reacquire up to 5.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is 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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