American Express Company (NYSE:AXP) Position Cut by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. lowered its stake in American Express Company (NYSE:AXP) by 9.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,294,567 shares of the payment services company’s stock after selling 129,880 shares during the period. Asset Management One Co. Ltd.’s holdings in American Express were worth $102,423,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Beacon Financial Group raised its position in American Express by 12.2% in the first quarter. Beacon Financial Group now owns 14,512 shares of the payment services company’s stock valued at $1,149,000 after buying an additional 1,583 shares during the last quarter. Franklin Street Advisors Inc. NC raised its position in American Express by 16.0% in the first quarter. Franklin Street Advisors Inc. NC now owns 105,392 shares of the payment services company’s stock valued at $8,338,000 after buying an additional 14,525 shares during the last quarter. Private Asset Management Inc. raised its position in American Express by 9.1% in the first quarter. Private Asset Management Inc. now owns 18,000 shares of the payment services company’s stock valued at $1,424,000 after buying an additional 1,500 shares during the last quarter. McQueen Ball & Associates Inc. raised its position in American Express by 2.4% in the first quarter. McQueen Ball & Associates Inc. now owns 21,889 shares of the payment services company’s stock valued at $1,732,000 after buying an additional 510 shares during the last quarter. Finally, Triangle Securities Wealth Management raised its position in American Express by 18.5% in the first quarter. Triangle Securities Wealth Management now owns 3,407 shares of the payment services company’s stock valued at $270,000 after buying an additional 531 shares during the last quarter. Institutional investors own 83.81% of the company’s stock.

Shares of American Express Company (NYSE AXP) opened at 84.29 on Friday. The company has a market capitalization of $74.51 billion, a P/E ratio of 17.29 and a beta of 1.18. The company’s 50 day moving average price is $84.79 and its 200 day moving average price is $80.22. American Express Company has a 12 month low of $59.50 and a 12 month high of $86.67.

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

American Express announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that permits the company to buyback $4.40 billion in shares. This buyback authorization permits the payment services company to reacquire up to 5.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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AXP has been the subject of several analyst reports. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $87.00 target price on shares of American Express in a research report on Thursday, April 20th. Jefferies Group LLC reiterated a “hold” rating and set a $75.00 price objective on shares of American Express in a report on Saturday, April 22nd. Piper Jaffray Companies reiterated a “neutral” rating and set a $83.00 price objective (up previously from $82.00) on shares of American Express in a report on Saturday, April 22nd. DA Davidson restated a “neutral” rating and issued a $85.00 target price (up previously from $84.00) on shares of American Express in a research note on Saturday, April 22nd. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $93.00 target price (down previously from $97.00) on shares of American Express in a research note on Friday, April 21st. Four 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 company presently has an average rating of “Hold” and a consensus price target of $84.77.

In related news, insider Paul D. Fabara sold 5,981 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $85.88, for a total transaction of $513,648.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marc D. Gordon sold 4,900 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $76.98, for a total value of $377,202.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 948,287 shares of company stock valued at $80,321,961. 0.67% of the stock is owned by company insiders.

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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