Motley Fool Asset Management LLC Raises Position in American Express (AXP)

Motley Fool Asset Management LLC increased its position in American Express (NYSE:AXP) by 16.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,314 shares of the payment services company’s stock after purchasing an additional 1,307 shares during the period. Motley Fool Asset Management LLC’s holdings in American Express were worth $913,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in American Express by 1.4% in the 2nd quarter. BlackRock Inc. now owns 44,131,020 shares of the payment services company’s stock worth $4,324,840,000 after purchasing an additional 626,323 shares during the period. Veritas Asset Management LLP boosted its stake in American Express by 9.0% in the 1st quarter. Veritas Asset Management LLP now owns 11,996,953 shares of the payment services company’s stock worth $1,119,076,000 after purchasing an additional 992,800 shares during the period. Fisher Asset Management LLC boosted its stake in American Express by 3.7% in the 2nd quarter. Fisher Asset Management LLC now owns 10,110,872 shares of the payment services company’s stock worth $990,866,000 after purchasing an additional 360,596 shares during the period. American Century Companies Inc. boosted its stake in American Express by 5.4% in the 2nd quarter. American Century Companies Inc. now owns 5,522,458 shares of the payment services company’s stock worth $541,201,000 after purchasing an additional 282,496 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in American Express by 3.7% in the 1st quarter. Artisan Partners Limited Partnership now owns 4,964,107 shares of the payment services company’s stock worth $463,052,000 after purchasing an additional 177,519 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

Shares of AXP opened at $105.76 on Monday. The firm has a market capitalization of $91.07 billion, a P/E ratio of 18.02, a PEG ratio of 1.43 and a beta of 1.15. American Express has a one year low of $84.02 and a one year high of $106.34. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 2.67.

American Express (NYSE:AXP) last announced its earnings results on Wednesday, July 18th. The payment services company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.83 by $0.01. The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.05 billion. American Express had a net margin of 9.23% and a return on equity of 30.08%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 EPS. research analysts expect that American Express will post 7.23 EPS for the current fiscal year.

American Express announced that its board has initiated a stock repurchase program on Thursday, June 28th that authorizes the company to repurchase $3.40 billion in outstanding shares. This repurchase authorization authorizes the payment services company to purchase up to 4.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have issued reports on AXP shares. Oppenheimer set a $113.00 target price on shares of American Express and gave the stock a “buy” rating in a research report on Wednesday, July 18th. UBS Group upgraded shares of American Express from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. DZ Bank upgraded shares of American Express from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Royal Bank of Canada restated a “sell” rating and set a $87.00 price target on shares of American Express in a report on Thursday, July 19th. Finally, Buckingham Research upgraded shares of American Express from a “neutral” rating to a “buy” rating and raised their price target for the company from $111.00 to $112.00 in a report on Friday, June 29th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $108.83.

In other American Express news, CEO Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $99.73, for a total value of $1,246,625.00. Following the sale, the chief executive officer now directly owns 191,971 shares in the company, valued at approximately $19,145,267.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas E. Buckminster sold 3,804 shares of the firm’s stock in a transaction on Wednesday, May 30th. The stock was sold at an average price of $99.03, for a total transaction of $376,710.12. Following the completion of the sale, the insider now owns 19,514 shares in the company, valued at $1,932,471.42. The disclosure for this sale can be found here. Insiders sold a total of 34,304 shares of company stock worth $3,410,015 over the last 90 days. Company insiders own 0.20% of the company’s stock.

American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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

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