Dumont & Blake Investment Advisors LLC Takes $211,000 Position in American Express Company (AXP)
Dumont & Blake Investment Advisors LLC purchased a new stake in shares of American Express Company (NYSE:AXP) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,510 shares of the payment services company’s stock, valued at approximately $211,000.
Other institutional investors and hedge funds have also modified their holdings of the company. MCF Advisors LLC increased 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 worth $101,000 after buying an additional 6 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in shares of American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after acquiring an additional 300 shares during the period. SpiderRock Advisors LLC bought a new position in shares of American Express in the first quarter worth $112,000. SRS Capital Advisors Inc. boosted its holdings in shares of 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 worth $116,000 after acquiring an additional 138 shares during the period. Finally, Westside Investment Management Inc. boosted its holdings in shares of 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 worth $119,000 after acquiring an additional 410 shares during the period. 82.77% of the stock is owned by institutional investors.
In related news, insider Paul D. Fabara sold 5,981 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Susan Sobbott sold 6,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $84.39, for a total transaction of $506,340.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 949,387 shares of company stock valued at $80,451,099. 0.67% of the stock is owned by insiders.
A number of equities analysts have recently commented on AXP shares. Guggenheim reaffirmed a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of American Express in a report on Saturday, July 22nd. Barclays PLC reaffirmed a “buy” rating and issued a $83.00 price target on shares of American Express in a report on Thursday, July 20th. BidaskClub raised American Express from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Keefe, Bruyette & Woods set a $95.00 price target on American Express and gave the stock a “buy” rating in a report on Saturday, August 19th. Finally, Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a report on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $86.29.
American Express Company (AXP) opened at 88.21 on Tuesday. American Express Company has a 12-month low of $59.50 and a 12-month high of $89.38. The stock has a 50 day moving average price of $85.80 and a 200 day moving average price of $81.62. The stock has a market cap of $77.98 billion, a P/E ratio of 18.09 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 EPS for the quarter, beating the consensus estimate of $1.44 by $0.03. American Express had a net margin of 14.11% and a return on equity of 21.90%. The business had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.20 billion. During the same quarter in the prior year, the firm earned $2.10 EPS. The business’s revenue was up .9% on a year-over-year basis. On average, analysts forecast that American Express Company will post $5.74 earnings per share for the current fiscal year.
American Express declared that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that allows the company to repurchase $4.40 billion in shares. This repurchase authorization allows the payment services company to buy up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
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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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