American Express Company (NYSE:AXP) Shares Bought by United Services Automobile Association

United Services Automobile Association raised its stake in American Express Company (NYSE:AXP) by 9.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AXP. MCF Advisors LLC increased its position 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 valued at $101,000 after buying an additional 6 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in American Express by 0.4% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,641 shares of the payment services company’s stock valued at $209,000 after buying an additional 10 shares during the last quarter. Accredited Investors Inc. increased its position in American Express by 0.5% in the first quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock valued at $251,000 after buying an additional 15 shares during the last quarter. Wagner Bowman Management Corp increased its position in American Express by 0.3% in the first quarter. Wagner Bowman Management Corp now owns 7,775 shares of the payment services company’s stock valued at $615,000 after buying an additional 22 shares during the last quarter. Finally, Financial Architects Inc increased its position in American Express by 2.0% in the first quarter. Financial Architects Inc now owns 2,551 shares of the payment services company’s stock valued at $202,000 after buying an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 83.86% of the company’s stock.

American Express Company (NYSE AXP) opened at 85.38 on Friday. American Express Company has a one year low of $59.50 and a one year high of $87.78. The stock’s 50 day moving average price is $85.23 and its 200 day moving average price is $80.55. The firm has a market capitalization of $75.47 billion, a PE ratio of 17.51 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 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.03. American Express had a net margin of 14.11% and a return on equity of 21.90%. The business had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same quarter last year, the firm earned $2.10 EPS. American Express’s quarterly revenue was up .9% compared to the same quarter last year. Analysts expect that American Express Company will post $5.74 EPS for the current year.

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

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Several analysts have issued reports on the company. BidaskClub raised American Express from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $100.00 target price (up previously from $99.00) on shares of American Express in a research report on Saturday, July 22nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $85.00 target price on shares of American Express in a research report on Saturday, July 22nd. Guggenheim reaffirmed a “buy” rating and set a $95.00 target price (up previously from $90.00) on shares of American Express in a research report on Saturday, July 22nd. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $94.00 target price (up previously from $87.00) on shares of American Express in a research report on Saturday, July 22nd. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $84.77.

In other news, CEO Kenneth I. Chenault sold 789,503 shares of American Express stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $84.62, for a total value of $66,807,743.86. Following the sale, the chief executive officer now directly owns 889,836 shares in the company, valued at $75,297,922.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Stephen J. Squeri sold 94,792 shares of American Express stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $85.41, for a total transaction of $8,096,184.72. Following the completion of the sale, the insider now owns 261,665 shares in the company, valued at $22,348,807.65. The disclosure for this sale can be found here. Insiders have sold a total of 948,287 shares of company stock worth $80,321,961 in the last three months. 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).

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




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