American Express Company (AXP) Holdings Increased by McQueen Ball & Associates Inc.

McQueen Ball & Associates Inc. grew its holdings in American Express Company (NYSE:AXP) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,379 shares of the payment services company’s stock after purchasing an additional 490 shares during the period. McQueen Ball & Associates Inc.’s holdings in American Express were worth $1,885,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Matthew Goff Investment Advisor LLC purchased a new stake in American Express in the first quarter worth $2,543,000. Rothschild Asset Management Inc. increased its stake in shares of American Express by 19.5% during the first quarter. Rothschild Asset Management Inc. now owns 641,409 shares of the payment services company’s stock valued at $50,742,000 after buying an additional 104,647 shares during the period. Vanguard Group Inc. increased its stake in shares of American Express by 1.5% during the first quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock valued at $3,916,145,000 after buying an additional 722,235 shares during the period. Trust Co. of Vermont increased its stake in shares of American Express by 5.0% during the first quarter. Trust Co. of Vermont now owns 17,289 shares of the payment services company’s stock valued at $1,367,000 after buying an additional 819 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its stake in shares of American Express by 2.6% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,115 shares of the payment services company’s stock valued at $405,000 after buying an additional 128 shares during the period. Institutional investors and hedge funds own 82.80% of the company’s stock.

Several equities analysts have recently commented on AXP shares. Wells Fargo & Company restated a “market perform” rating and set a $80.00 price target on shares of American Express in a research note on Sunday, May 21st. BMO Capital Markets restated a “hold” rating and set a $84.00 price target on shares of American Express in a research note on Thursday, June 1st. BidaskClub upgraded American Express from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Stephens upgraded American Express from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $70.00 to $82.00 in a research note on Tuesday, June 20th. Finally, Instinet restated an “underperform” rating and set a $80.00 price target on shares of American Express in a research note on Thursday, June 29th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $86.37.

American Express Company (NYSE AXP) traded up 1.97% during mid-day trading on Monday, hitting $85.91. The stock had a trading volume of 1,552,269 shares. The firm has a market cap of $75.94 billion, a P/E ratio of 17.62 and a beta of 1.18. The stock has a 50-day moving average price of $85.40 and a 200 day moving average price of $81.28. American Express Company has a 12-month low of $59.50 and a 12-month high of $87.78.

American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.03. The company 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 was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $2.10 earnings per share. Equities analysts anticipate that American Express Company will post $5.74 EPS for the current fiscal year.

American Express announced that its board has initiated a stock repurchase program on Wednesday, June 28th that allows the company to buyback $4.40 billion in outstanding shares. This buyback authorization allows the payment services company to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

In other news, CEO Kenneth I. Chenault sold 789,503 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $84.62, for a total transaction of $66,807,743.86. Following the sale, the chief executive officer now owns 889,836 shares in the company, valued at $75,297,922.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anre D. Williams sold 53,111 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 79,614 shares in the company, valued at approximately $6,786,297.36. The disclosure for this sale can be found here. Insiders have sold 943,387 shares of company stock valued at $79,944,759 in the last three months. 0.67% of the stock is currently owned by company insiders.

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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).

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

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