American Express Company (AXP) Holdings Decreased by Waverton Investment Management Ltd
Waverton Investment Management Ltd reduced its position in American Express Company (NYSE:AXP) by 41.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,573 shares of the payment services company’s stock after selling 147,567 shares during the quarter. American Express makes up about 1.1% of Waverton Investment Management Ltd’s investment portfolio, making the stock its 23rd largest holding. Waverton Investment Management Ltd’s holdings in American Express were worth $17,570,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. MCF Advisors LLC boosted its position in shares of 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 purchasing an additional 6 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in shares of American Express by 0.4% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,641 shares of the payment services company’s stock worth $209,000 after purchasing an additional 10 shares during the period. Bath Savings Trust Co boosted its position in shares of American Express by 0.3% in the second quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock worth $369,000 after purchasing an additional 14 shares during the period. Accredited Investors Inc. boosted its position in shares of American Express by 0.5% in the first quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock worth $251,000 after purchasing an additional 15 shares during the period. Finally, City Holding Co. boosted its position in shares of American Express by 2.7% in the second quarter. City Holding Co. now owns 1,572 shares of the payment services company’s stock worth $132,000 after purchasing an additional 41 shares during the period. Institutional investors and hedge funds own 82.80% of the company’s stock.
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A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of American Express from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Morgan Stanley dropped their price target on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a research report on Friday, September 8th. Keefe, Bruyette & Woods set a $95.00 price target on shares of American Express and gave the stock a “buy” rating in a research report on Saturday, August 19th. BidaskClub upgraded shares of American Express from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $100.00 price target (up from $99.00) on shares of American Express in a research report on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $86.29.
Shares of American Express Company (NYSE:AXP) traded up 0.93% during midday trading on Friday, hitting $86.99. 7,791,555 shares of the stock traded hands. 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 price is $85.61 and its 200-day moving average price is $81.49. 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 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. American Express had a return on equity of 21.90% and a net margin of 14.11%. The business had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same quarter in the previous year, the firm earned $2.10 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts expect 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 repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $4.40 billion in outstanding shares. This repurchase authorization authorizes the payment services company to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In other news, insider Paul D. Fabara sold 5,981 shares of American Express stock in a transaction on Friday, July 21st. The stock was sold at an average price of $85.88, for a total transaction of $513,648.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Susan Sobbott sold 6,000 shares of American Express stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $84.39, for a total value of $506,340.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 949,387 shares of company stock worth $80,451,099. 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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