Affinity Investment Advisors LLC cut its position in shares of American Express (NYSE:AXP) by 14.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 92,604 shares of the payment services company’s stock after selling 15,665 shares during the quarter. Affinity Investment Advisors LLC’s holdings in American Express were worth $9,075,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of American Express by 1.0% during the first quarter. BlackRock Inc. now owns 43,504,697 shares of the payment services company’s stock worth $4,058,115,000 after buying an additional 414,196 shares in the last quarter. Veritas Asset Management LLP grew its holdings in shares of American Express by 9.0% during the first quarter. Veritas Asset Management LLP now owns 11,996,953 shares of the payment services company’s stock worth $1,119,076,000 after buying an additional 992,800 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of American Express by 3.7% during the second quarter. Fisher Asset Management LLC now owns 10,110,872 shares of the payment services company’s stock worth $990,866,000 after buying an additional 360,596 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of American Express by 11.5% during the first quarter. American Century Companies Inc. now owns 5,239,962 shares of the payment services company’s stock worth $488,784,000 after buying an additional 539,681 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in shares of American Express by 3.7% during the first quarter. Artisan Partners Limited Partnership now owns 4,964,107 shares of the payment services company’s stock worth $463,052,000 after buying an additional 177,519 shares in the last quarter. Institutional investors and hedge funds own 82.66% of the company’s stock.

In other news, CEO Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $99.73, for a total value of $1,246,625.00. Following the completion of the sale, the chief executive officer now directly owns 191,971 shares of the company’s stock, valued at $19,145,267.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Richard Petrino sold 9,880 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $102.89, for a total value of $1,016,553.20. Following the completion of the sale, the executive vice president now directly owns 16,198 shares of the company’s stock, valued at $1,666,612.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,184 shares of company stock valued at $4,426,568. Insiders own 0.20% of the company’s stock.

A number of research analysts recently issued reports on the company. DZ Bank upgraded American Express from a “hold” rating to a “buy” rating in a report on Friday, July 20th. UBS Group raised American Express from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Royal Bank of Canada reissued a “sell” rating and set a $87.00 price target on shares of American Express in a research report on Thursday, July 19th. Oppenheimer set a $113.00 price target on American Express and gave the company a “buy” rating in a research report on Wednesday, July 18th. Finally, BMO Capital Markets increased their price target on American Express from $103.00 to $106.00 and gave the company a “market perform” rating in a research report on Thursday, July 19th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $108.83.

AXP opened at $101.58 on Monday. American Express has a 12-month low of $83.97 and a 12-month high of $104.24. The company has a market capitalization of $88.68 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 1.38 and a beta of 1.15. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 2.67.

American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, July 18th. The payment services company reported $1.84 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.83 by $0.01. American Express had a return on equity of 30.08% and a net margin of 9.23%. The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.05 billion. During the same period last year, the firm posted $1.47 earnings per share. The business’s revenue was up 9.0% on a year-over-year basis. equities research analysts anticipate that American Express will post 7.27 earnings per share for the current fiscal year.

American Express announced that its board has initiated a share buyback plan on Thursday, June 28th that allows the company to repurchase $3.40 billion in shares. This repurchase authorization allows the payment services company to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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