Dynamic Capital Management Ltd lowered its position in shares of American Express Company (NYSE:AXP) by 39.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 33,806 shares of the payment services company’s stock after selling 22,098 shares during the period. Dynamic Capital Management Ltd’s holdings in American Express were worth $2,674,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in American Express by 1.5% in the first 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. BlackRock Inc. raised its position in American Express by 2,686.0% in the first quarter. BlackRock Inc. now owns 44,177,867 shares of the payment services company’s stock worth $3,494,913,000 after buying an additional 42,592,136 shares during the period. Wellington Management Group LLP raised its position in American Express by 21.7% in 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 buying an additional 3,071,573 shares during the period. First Eagle Investment Management LLC raised its position in American Express by 1.9% in the first quarter. First Eagle Investment Management LLC now owns 16,239,276 shares of the payment services company’s stock worth $1,284,689,000 after buying an additional 305,651 shares during the period. Finally, Fisher Asset Management LLC raised its position in American Express by 2.3% in the first quarter. Fisher Asset Management LLC now owns 10,879,001 shares of the payment services company’s stock worth $860,638,000 after buying an additional 248,731 shares during the period. 83.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of American Express Company (AXP) traded down 0.58% during trading on Thursday, hitting $85.19. 203,658 shares of the stock traded hands. The firm’s 50-day moving average price is $84.67 and its 200-day moving average price is $80.13. The stock has a market cap of $75.31 billion, a PE ratio of 17.47 and a beta of 1.18. American Express Company has a 12 month low of $59.50 and a 12 month high of $86.67.
American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. American Express had a net margin of 15.80% and a return on equity of 24.96%. The firm had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.20 billion. During the same period in the previous year, the company earned $2.10 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts anticipate that American Express Company will post $5.74 EPS for the current year.
American Express declared that its board has approved a share repurchase program on Wednesday, June 28th that permits the company to buyback $4.40 billion in shares. This buyback authorization permits the payment services company to purchase up to 5.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
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A number of research analysts have recently commented on AXP shares. Jefferies Group LLC restated a “hold” rating and set a $85.00 price target on shares of American Express in a research report on Saturday, July 22nd. Sanford C. Bernstein restated an “outperform” rating and set a $100.00 price target (up from $99.00) on shares of American Express in a research report on Saturday, July 22nd. Guggenheim upgraded shares of American Express from a “neutral” rating to a “buy” rating and boosted their price target for the company from $81.05 to $90.00 in a research report on Tuesday, April 25th. Credit Suisse Group restated a “sell” rating on shares of American Express in a research report on Wednesday, July 19th. Finally, Nomura upgraded shares of American Express from a “reduce” rating to a “neutral” rating and boosted their price target for the company from $63.00 to $78.00 in a research report on Thursday, April 27th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $84.77.
In related news, Vice Chairman Stephen J. Squeri sold 94,792 shares of American Express stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $85.41, for a total transaction 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 filing with the SEC, which is available through the SEC website. Also, insider Anre D. Williams sold 53,111 shares of American Express stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $85.24, for a total transaction of $4,527,181.64. Following the transaction, the insider now directly owns 79,614 shares of the company’s stock, valued at $6,786,297.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 948,287 shares of company stock valued at $80,321,961. 0.67% of the stock is owned by corporate 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).
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