Mitsubishi UFJ Trust & Banking Corp reduced its position in shares of American Express Company (NYSE:AXP) by 0.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 1,974,668 shares of the payment services company’s stock after selling 13,125 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in American Express were worth $156,216,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXP. SeaBridge Investment Advisors LLC bought a new position in shares of American Express during the first quarter worth about $100,000. MCF Advisors LLC raised its stake 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 buying an additional 6 shares in the last quarter. SpiderRock Advisors LLC purchased a new stake in American Express during the first quarter worth $112,000. Capital Guardian Trust Co. raised its stake in American Express by 23.6% in the fourth quarter. Capital Guardian Trust Co. now owns 1,717 shares of the payment services company’s stock worth $127,000 after buying an additional 328 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new stake in American Express during the fourth quarter worth $128,000. 83.81% of the stock is currently owned by institutional investors and hedge funds.
American Express Company (NYSE AXP) traded up 0.10% during midday trading on Tuesday, reaching $85.94. 2,920,126 shares of the company were exchanged. American Express Company has a 52 week low of $59.50 and a 52 week high of $86.67. The company has a market capitalization of $75.97 billion, a PE ratio of 17.63 and a beta of 1.18. The firm has a 50-day moving average price of $84.33 and a 200-day moving average price of $79.91.
American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. American Express had a net margin of 14.11% and a return on equity of 21.90%. The company had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.20 billion. During the same quarter in the previous year, the firm earned $2.10 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that American Express Company will post $5.74 earnings per share for the current fiscal year.
American Express announced that its board has approved a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $4.40 billion in shares. This repurchase authorization allows the payment services company to reacquire up to 5.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
A number of analysts have recently weighed in on AXP shares. BMO Capital Markets reiterated a “hold” rating and set a $84.00 target price on shares of American Express in a report on Thursday, June 1st. Credit Suisse Group restated a “sell” rating on shares of American Express in a report on Wednesday, July 19th. Instinet upgraded shares of American Express from a “reduce” rating to a “neutral” rating and raised their price objective for the stock from $63.00 to $78.00 in a report on Thursday, April 27th. 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. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $75.00 target price on shares of American Express in a report on Saturday, April 22nd. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $84.77.
In other news, insider Anre D. Williams sold 53,111 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $85.24, for a total transaction of $4,527,181.64. Following the completion of the sale, the insider now owns 79,614 shares in the company, valued at approximately $6,786,297.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Marc D. Gordon sold 4,900 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $76.98, for a total transaction of $377,202.00. The disclosure for this sale can be found here. Insiders sold 948,287 shares of company stock valued at $80,321,961 in the last quarter. 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).
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