American Express Company (AXP) Shares Bought by Donaldson Capital Management LLC
Donaldson Capital Management LLC grew its position in shares of American Express Company (NYSE:AXP) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,228 shares of the payment services company’s stock after purchasing an additional 50 shares during the period. Donaldson Capital Management LLC’s holdings in American Express were worth $272,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of AXP. BlackRock Inc. lifted its stake in American Express by 2,686.0% during the first quarter. BlackRock Inc. now owns 44,177,867 shares of the payment services company’s stock worth $3,494,913,000 after purchasing an additional 42,592,136 shares during the last quarter. Wellington Management Group LLP lifted its stake in American Express by 21.7% during the first quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock worth $1,360,596,000 after purchasing an additional 3,071,573 shares during the last quarter. Tesco Pension Investment Ltd bought a new stake in American Express during the first quarter worth about $137,325,000. Canada Pension Plan Investment Board lifted its stake in American Express by 944,765.8% during the second quarter. Canada Pension Plan Investment Board now owns 1,077,147 shares of the payment services company’s stock worth $90,739,000 after purchasing an additional 1,077,033 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in American Express by 40.1% during the first quarter. OppenheimerFunds Inc. now owns 3,627,184 shares of the payment services company’s stock worth $286,946,000 after purchasing an additional 1,038,328 shares during the last quarter. 82.78% of the stock is owned by hedge funds and other 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 of the company’s stock, valued at $75,297,922.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 5,981 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was 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. In the last three months, insiders sold 959,617 shares of company stock valued at $81,377,425. 0.67% of the stock is owned by insiders.
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Several equities research analysts have issued reports on AXP shares. Guggenheim reaffirmed a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of American Express in a research note on Saturday, July 22nd. 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. BidaskClub raised American Express from a “hold” rating to a “buy” rating in a research note 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 research note 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 research note on Tuesday, August 29th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $86.48.
American Express Company (NYSE AXP) opened at 91.55 on Monday. The firm’s 50-day moving average price is $87.34 and its 200-day moving average price is $82.57. The company has a market cap of $80.93 billion, a price-to-earnings ratio of 18.78 and a beta of 1.21. American Express Company has a 52-week low of $59.50 and a 52-week high of $91.64.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.03. The business had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.20 billion. American Express had a net margin of 14.11% and a return on equity of 21.90%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.10 earnings per share. On average, equities analysts anticipate that American Express Company will post $5.74 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.40 annualized dividend and a yield of 1.53%. This is an increase from American Express’s previous quarterly dividend of $0.32. American Express’s dividend payout ratio (DPR) is presently 28.63%.
American Express announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that permits the company to repurchase $4.40 billion in shares. This repurchase authorization permits the payment services company to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
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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