American Express Company (AXP) Stake Decreased by Charter Trust Co.
Charter Trust Co. cut its stake in shares of American Express Company (NYSE:AXP) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,522 shares of the payment services company’s stock after selling 1,358 shares during the quarter. Charter Trust Co.’s holdings in American Express were worth $1,813,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of 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 worth $101,000 after purchasing an additional 6 shares during the period. SpiderRock Advisors LLC acquired a new position in shares of American Express during the 1st quarter worth $112,000. SRS Capital Advisors Inc. grew its stake in shares of American Express by 10.3% during the 1st quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after purchasing an additional 138 shares during the period. Westside Investment Management Inc. grew its stake in shares of American Express by 36.7% during the 1st quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after purchasing an additional 410 shares during the period. Finally, Clean Yield Group acquired a new position in shares of American Express during the 1st quarter worth $175,000. 82.80% of the stock is currently owned by institutional investors and hedge funds.
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In other news, Vice Chairman Stephen J. Squeri sold 94,792 shares of American Express stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $85.41, for a total transaction of $8,096,184.72. Following the completion of the sale, the insider now directly owns 261,665 shares in the company, valued at approximately $22,348,807.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 5,981 shares of American Express stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $85.88, for a total value of $513,648.28. The disclosure for this sale can be found here. Insiders have sold a total of 949,387 shares of company stock valued at $80,451,099 over the last 90 days. Corporate insiders own 0.67% of the company’s stock.
A number of equities analysts have recently weighed in on the stock. BidaskClub raised shares of American Express from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research note on Tuesday, August 29th. Instinet reaffirmed an “underperform” rating and set a $80.00 price target on shares of American Express in a research note on Thursday, June 29th. Barclays PLC reaffirmed a “buy” rating and set a $83.00 price target on shares of American Express in a research note on Thursday, July 20th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $84.00 price target on shares of American Express in a research note on Thursday, June 1st. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $86.29.
Shares of American Express Company (NYSE AXP) traded up 0.93% on Friday, hitting $86.99. 7,791,555 shares of the stock traded hands. American Express Company has a one year low of $59.50 and a one year high of $87.78. The stock has a market cap of $76.90 billion, a price-to-earnings ratio of 17.84 and a beta of 1.18. The company’s 50 day moving average is $85.61 and its 200 day moving average is $81.49.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.03. American Express had a return on equity of 21.90% and a net margin of 14.11%. The firm had revenue of $8.31 billion during the quarter, compared to analyst estimates of $8.20 billion. During the same period last year, the company posted $2.10 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts forecast that American Express Company will post $5.74 EPS for the current year.
American Express announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that permits the company to buyback $4.40 billion in shares. This buyback authorization permits the payment services company to repurchase up to 5.9% of its stock through open market purchases. Stock buyback plans are often an indication 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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