Allen Investment Management LLC Raises Position in American Express Company (AXP)

Allen Investment Management LLC boosted its position in shares of American Express Company (NYSE:AXP) by 6.1% during the first quarter, Holdings Channel reports. The fund owned 50,688 shares of the payment services company’s stock after buying an additional 2,899 shares during the period. Allen Investment Management LLC’s holdings in American Express were worth $4,010,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AXP. Rothschild Investment Corp IL raised its position in shares of American Express by 2.3% in the first quarter. Rothschild Investment Corp IL now owns 5,297 shares of the payment services company’s stock worth $419,000 after buying an additional 120 shares during the last quarter. Trust Co. of Vermont raised its position in shares of American Express by 5.0% in the first 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 last quarter. LS Investment Advisors LLC raised its position in shares of American Express by 0.8% in the first quarter. LS Investment Advisors LLC now owns 25,569 shares of the payment services company’s stock worth $2,023,000 after buying an additional 206 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of American Express by 2.6% in the first 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 last quarter. Finally, TNB Financial purchased a new position in shares of American Express during the first quarter worth $794,000. Institutional investors own 83.81% of the company’s stock.

American Express Company (NYSE AXP) traded down 0.9296% during trading on Thursday, reaching $84.8934. The company’s stock had a trading volume of 492,372 shares. The company’s 50-day moving average is $84.67 and its 200-day moving average is $80.13. American Express Company has a 1-year low of $59.50 and a 1-year high of $86.67. The company has a market capitalization of $75.04 billion, a P/E ratio of 17.4105 and a beta of 1.18.

American Express (NYSE:AXP) last released its quarterly earnings data 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. The company 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 24.96% and a net margin of 15.80%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the business posted $2.10 EPS. Equities 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 repurchase $4.40 billion in outstanding shares. This repurchase authorization permits the payment services company to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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AXP has been the topic of a number of research reports. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $87.00 price objective on shares of American Express in a report on Thursday, April 20th. Guggenheim upgraded American Express from a “neutral” rating to a “buy” rating and raised their price objective for the company from $81.05 to $90.00 in a report on Tuesday, April 25th. BidaskClub lowered American Express from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. CIBC decreased their price objective on American Express from $97.00 to $93.00 and set an “outperform” rating on the stock in a report on Monday, April 24th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $100.00 price objective (up previously from $99.00) on shares of American Express in a report on Saturday, July 22nd. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. American Express has an average rating of “Hold” and a consensus price target of $84.77.

In other news, Vice Chairman Stephen J. Squeri sold 94,792 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $85.41, for a total value of $8,096,184.72. Following the transaction, the insider now directly owns 261,665 shares in the company, valued at approximately $22,348,807.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Anre D. Williams sold 53,111 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $85.24, for a total value of $4,527,181.64. Following the completion of the transaction, the insider now owns 79,614 shares in the company, valued at $6,786,297.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 948,287 shares of company stock worth $80,321,961. Company insiders own 0.67% of the company’s stock.

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

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