LLBH Private Wealth Management LLC Has $675,000 Stake in American Express Company (AXP)

LLBH Private Wealth Management LLC decreased its stake in American Express Company (NYSE:AXP) by 94.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,011 shares of the payment services company’s stock after selling 142,564 shares during the period. LLBH Private Wealth Management LLC’s holdings in American Express were worth $675,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MCF Advisors LLC grew its holdings in American Express by 0.5% during 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 period. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in American Express by 30.4% during 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 period. SpiderRock Advisors LLC bought a new position in American Express during the first quarter worth about $112,000. SRS Capital Advisors Inc. grew its holdings in American Express by 10.3% during 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 period. Finally, Westside Investment Management Inc. grew its holdings in American Express by 36.7% during 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 period. Institutional investors own 82.78% of the company’s stock.

Shares of American Express Company (NYSE:AXP) opened at 91.89 on Wednesday. The stock has a 50 day moving average of $87.71 and a 200-day moving average of $82.84. American Express Company has a 52-week low of $59.50 and a 52-week high of $92.34. The firm has a market capitalization of $81.23 billion, a P/E ratio of 18.85 and a beta of 1.21.

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 Zacks’ 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 firm had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.20 billion. During the same period in the prior year, the firm earned $2.10 EPS. The company’s revenue was up .9% compared to the same quarter last year. Equities analysts expect that American Express Company will post $5.74 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be issued a $0.35 dividend. The ex-dividend date is Thursday, October 5th. This is an increase from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.52%. American Express’s dividend payout ratio (DPR) is 28.63%.

American Express declared that its board has approved a stock buyback program on Wednesday, June 28th that allows the company to repurchase $4.40 billion in shares. This repurchase authorization allows the payment services company to purchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

ILLEGAL ACTIVITY WARNING: “LLBH Private Wealth Management LLC Has $675,000 Stake in American Express Company (AXP)” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another site, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/11/llbh-private-wealth-management-llc-has-675000-stake-in-american-express-company-axp.html.

AXP has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a report on Friday, September 8th. Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Credit Suisse Group reiterated a “sell” rating on shares of American Express in a report on Wednesday, July 19th. BidaskClub cut American Express from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Guggenheim reiterated a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of American Express in a report on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $86.65.

In related news, Vice Chairman Stephen J. Squeri sold 94,792 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $85.41, for a total value of $8,096,184.72. Following the completion of the transaction, the insider now directly owns 261,665 shares of the company’s stock, valued at approximately $22,348,807.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Susan Sobbott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursd

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MCF Advisors LLC grew its holdings in American Express by 0.5% during 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 period. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in American Express by 30.4% during 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 period. SpiderRock Advisors LLC bought a new position in American Express during the first quarter worth about $112,000. SRS Capital Advisors Inc. grew its holdings in American Express by 10.3% during 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 period. Finally, Westside Investment Management Inc. grew its holdings in American Express by 36.7% during 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 period. Institutional investors own 82.78% of the company’s stock.

Shares of American Express Company (NYSE:AXP) opened at 91.89 on Wednesday. The stock has a 50 day moving average of $87.71 and a 200-day moving average of $82.84. American Express Company has a 52-week low of $59.50 and a 52-week high of $92.34. The firm has a market capitalization of $81.23 billion, a P/E ratio of 18.85 and a beta of 1.21.

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 Zacks’ 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 firm had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.20 billion. During the same period in the prior year, the firm earned $2.10 EPS. The company’s revenue was up .9% compared to the same quarter last year. Equities analysts expect that American Express Company will post $5.74 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be issued a $0.35 dividend. The ex-dividend date is Thursday, October 5th. This is an increase from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.52%. American Express’s dividend payout ratio (DPR) is 28.63%.

American Express declared that its board has approved a stock buyback program on Wednesday, June 28th that allows the company to repurchase $4.40 billion in shares. This repurchase authorization allows the payment services company to purchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

ILLEGAL ACTIVITY WARNING: “LLBH Private Wealth Management LLC Has $675,000 Stake in American Express Company (AXP)” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another site, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The correct version of this article can be viewed at https://ledgergazette.com/2017/10/11/llbh-private-wealth-management-llc-has-675000-stake-in-american-express-company-axp.html.

AXP has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target on American Express from $90.00 to $89.00 and set an “equal weight” rating for the company in a report on Friday, September 8th. Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Credit Suisse Group reiterated a “sell” rating on shares of American Express in a report on Wednesday, July 19th. BidaskClub cut American Express from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Guggenheim reiterated a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of American Express in a report on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $86.65.

In related news, Vice Chairman Stephen J. Squeri sold 94,792 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $85.41, for a total value of $8,096,184.72. Following the completion of the transaction, the insider now directly owns 261,665 shares of the company’s stock, valued at approximately $22,348,807.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Susan Sobbott sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was 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. Over the last ninety days, insiders sold 959,617 shares of company stock valued at $81,377,425. 0.67% of the stock is owned by insiders.

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).

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

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