American Express Company (NYSE:AXP) Position Increased by United Services Automobile Association

United Services Automobile Association raised its stake in shares of American Express Company (NYSE:AXP) by 9.3% during the first quarter, Holdings Channel reports. The firm owned 1,393,925 shares of the payment services company’s stock after buying an additional 118,340 shares during the period. United Services Automobile Association’s holdings in American Express were worth $110,273,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of AXP. Fulton Bank N.A. raised its position in American Express by 13.5% in the first quarter. Fulton Bank N.A. now owns 5,333 shares of the payment services company’s stock valued at $422,000 after buying an additional 636 shares during the period. Sheets Smith Wealth Management raised its position in American Express by 2.7% in the first quarter. Sheets Smith Wealth Management now owns 6,461 shares of the payment services company’s stock valued at $511,000 after buying an additional 167 shares during the period. Chesley Taft & Associates LLC raised its position in American Express by 1.7% in the first quarter. Chesley Taft & Associates LLC now owns 96,893 shares of the payment services company’s stock valued at $7,665,000 after buying an additional 1,590 shares during the period. Gulf International Bank UK Ltd raised its position in American Express by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 241,916 shares of the payment services company’s stock valued at $19,137,000 after buying an additional 3,100 shares during the period. Finally, Union Bankshares Corp raised its position in American Express by 1.5% in the first quarter. Union Bankshares Corp now owns 51,703 shares of the payment services company’s stock valued at $4,090,000 after buying an additional 753 shares during the period. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American Express Company (AXP) opened at 85.85 on Tuesday. American Express Company has a 12 month low of $59.50 and a 12 month high of $86.28. The firm has a market cap of $75.89 billion, a P/E ratio of 17.61 and a beta of 1.18. The company has a 50-day moving average of $83.91 and a 200-day moving average of $79.79.

American Express (NYSE:AXP) last posted its earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.03. The firm had revenue of $8.31 billion during the quarter, compared to analyst estimates of $8.20 billion. American Express had a net margin of 14.11% and a return on equity of 21.90%. American Express’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business posted $2.10 EPS. Equities analysts forecast that American Express Company will post $5.74 EPS for the current fiscal year.

American Express declared that its board has initiated a share repurchase plan 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 plans are generally a sign that the company’s leadership believes its stock is undervalued.

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Several equities analysts recently commented on AXP shares. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $91.00 target price on shares of American Express in a report on Monday, April 10th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $87.00 target price on shares of American Express in a report on Thursday, April 20th. Jefferies Group LLC reissued a “hold” rating and issued a $75.00 target price on shares of American Express in a report on Saturday, April 22nd. Piper Jaffray Companies reissued a “neutral” rating and issued a $83.00 target price (up previously from $82.00) on shares of American Express in a report on Saturday, April 22nd. Finally, DA Davidson reissued a “neutral” rating and issued a $85.00 target price (up previously from $84.00) on shares of American Express in a report on Saturday, April 22nd. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $84.77.

In other American Express news, insider Anre D. Williams sold 53,111 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 79,614 shares of the company’s stock, valued at approximately $6,786,297.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 5,981 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $85.88, for a total transaction of $513,648.28. The disclosure for this sale can be found here. Insiders have sold a total of 948,287 shares of company stock valued at $80,321,961 over the last three months. 0.67% of the stock is currently owned by company 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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Institutional Ownership by Quarter for American Express (NYSE:AXP)




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