National Pension Service increased its position in shares of American Express Company (NYSE:AXP) by 9.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 616,290 shares of the payment services company’s stock after buying an additional 55,067 shares during the period. National Pension Service owned 0.07% of American Express worth $51,540,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Matthew Goff Investment Advisor LLC bought a new stake in shares of American Express during the 1st quarter worth $2,543,000. Vanguard Group Inc. boosted its holdings in shares of American Express by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock worth $3,916,145,000 after buying an additional 722,235 shares during the period. Rothschild Asset Management Inc. boosted its holdings in shares of American Express by 19.5% during the 1st quarter. Rothschild Asset Management Inc. now owns 641,409 shares of the payment services company’s stock worth $50,742,000 after buying an additional 104,647 shares during the period. Trust Co. of Vermont boosted its holdings in shares of American Express by 5.0% during the 1st quarter. Trust Co. of Vermont now owns 17,289 shares of the payment services company’s stock worth $1,367,000 after buying an additional 819 shares during the period. Finally, Bronfman E.L. Rothschild L.P. boosted its holdings in shares of American Express by 2.6% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 5,115 shares of the payment services company’s stock worth $405,000 after buying an additional 128 shares during the period. 82.77% of the stock is owned by institutional investors and hedge funds.
In related news, insider Susan Sobbott sold 6,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $84.39, for a total value of $506,340.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 5,981 shares of the business’s 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 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.
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Several research firms recently commented on AXP. Credit Suisse Group reiterated a “sell” rating on shares of American Express in a research note on Wednesday, July 19th. BidaskClub upgraded shares of American Express from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. BMO Capital Markets reiterated a “hold” rating and set a $84.00 target price on shares of American Express in a research note on Thursday, June 1st. Jefferies Group LLC reiterated a “hold” rating and set a $85.00 target price on shares of American Express in a research note on Saturday, July 22nd. Finally, Keefe, Bruyette & Woods set a $95.00 target price on shares of American Express and gave the company a “buy” rating in a research note on Saturday, August 19th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $86.29.
Shares of American Express Company (NYSE AXP) traded down 0.02% during midday trading on Friday, hitting $88.40. 2,770,085 shares of the company were exchanged. The company has a market capitalization of $78.14 billion, a P/E ratio of 18.13 and a beta of 1.18. American Express Company has a one year low of $59.50 and a one year high of $89.23. The company has a 50-day moving average of $85.80 and a 200 day moving average of $81.62.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, beating the Zacks’ 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 return on equity of 21.90% and a net margin of 14.11%. American Express’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.10 earnings per share. On average, equities research analysts expect 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 stock buyback program on Wednesday, June 28th that allows the company to buyback $4.40 billion in shares. This buyback authorization allows the payment services company to reacquire up to 5.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
About American Express
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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