S&CO Inc. held its position in shares of American Express Company (NYSE:AXP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,400 shares of the payment services company’s stock at the close of the 2nd quarter. S&CO Inc.’s holdings in American Express were worth $455,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC boosted 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 purchasing an additional 6 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in 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 purchasing an additional 300 shares during the last quarter. SpiderRock Advisors LLC purchased a new position in American Express in the first quarter worth about $112,000. SRS Capital Advisors Inc. boosted 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 worth $116,000 after purchasing an additional 138 shares during the last quarter. Finally, Westside Investment Management Inc. boosted 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 worth $119,000 after purchasing an additional 410 shares during the last quarter. Institutional investors own 82.77% of the company’s stock.
Shares of American Express Company (NYSE AXP) opened at 88.42 on Friday. American Express Company has a 1-year low of $59.50 and a 1-year high of $89.23. The firm has a 50-day moving average price of $85.80 and a 200-day moving average price of $81.62. The company has a market cap of $78.16 billion, a P/E ratio of 18.13 and a beta of 1.18.
American Express (NYSE:AXP) last released its earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.03. The business had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.20 billion. American Express had a return on equity of 21.90% and a net margin of 14.11%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $2.10 earnings per share. On average, equities analysts expect that American Express Company will post $5.74 EPS for the current year.
American Express declared that its board has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $4.40 billion in outstanding shares. This repurchase authorization permits the payment services company to buy up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
AXP has been the topic of several research reports. BMO Capital Markets reissued a “hold” rating and issued a $84.00 target price on shares of American Express in a research report on Thursday, June 1st. BidaskClub raised American Express from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Stephens raised American Express from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $70.00 to $82.00 in a research report on Tuesday, June 20th. Instinet reissued an “underperform” rating and issued a $80.00 target price on shares of American Express in a research report on Thursday, June 29th. Finally, Credit Suisse Group reissued an “underperform” rating and issued a $80.00 target price on shares of American Express in a research report on Wednesday, July 5th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the stock. American Express presently has an average rating of “Hold” and a consensus price target of $86.29.
In other news, insider Paul D. Fabara sold 5,981 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Susan Sobbott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were 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 90 days, insiders sold 949,387 shares of company stock worth $80,451,099. Company insiders own 0.67% of the company’s stock.
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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