American Express Company (AXP) Holdings Lifted by Tompkins Financial Corp
Tompkins Financial Corp raised its holdings in American Express Company (NYSE:AXP) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,212 shares of the payment services company’s stock after acquiring an additional 30 shares during the period. Tompkins Financial Corp’s holdings in American Express were worth $439,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC grew its position 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 acquiring an additional 6 shares during the last quarter. SpiderRock Advisors LLC bought a new position in American Express in the first quarter valued at about $112,000. SRS Capital Advisors Inc. grew its position 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 acquiring an additional 138 shares during the last quarter. Westside Investment Management Inc. grew its position in American Express by 36.7% in the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after acquiring an additional 410 shares during the last quarter. Finally, City Holding Co. grew its position in American Express by 2.7% in the second quarter. City Holding Co. now owns 1,572 shares of the payment services company’s stock valued at $132,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 82.77% of the company’s stock.
AXP has been the topic of a number of recent analyst reports. Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Morgan Stanley decreased their target price on American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Friday, September 8th. Jefferies Group LLC reiterated a “hold” rating and issued a $85.00 target price on shares of American Express in a research report on Saturday, July 22nd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $100.00 target price (up previously from $99.00) on shares of American Express in a research report on Saturday, July 22nd. Finally, Guggenheim reiterated a “buy” rating and issued a $95.00 target price (up previously from $90.00) 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 given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $86.29.
In other American Express news, CEO Kenneth I. Chenault sold 789,503 shares of the 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 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 document filed with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 5,981 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was 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. In the last quarter, insiders sold 949,387 shares of company stock valued at $80,451,099. Company insiders own 0.67% of the company’s stock.
Shares of American Express Company (NYSE:AXP) traded up 0.57% during trading on Monday, reaching $87.49. The company’s stock had a trading volume of 1,695,858 shares. American Express Company has a 52-week low of $59.50 and a 52-week high of $87.78. The stock’s 50 day moving average price is $85.61 and its 200-day moving average price is $81.49. The stock has a market cap of $77.34 billion, a price-to-earnings ratio of 17.94 and a beta of 1.18.
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, 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 during the quarter, compared to analysts’ expectations of $8.20 billion. During the same quarter last year, the business posted $2.10 EPS. The business’s revenue was up .9% on a year-over-year basis. Equities analysts anticipate that American Express Company will post $5.74 EPS for the current year.
American Express announced that its board has authorized a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $4.40 billion in shares. This repurchase authorization allows the payment services company to reacquire up to 5.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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American Express 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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