Financial Architects Inc Has $206,000 Position in American Express Company (AXP)
Financial Architects Inc reduced its position in shares of American Express Company (NYSE:AXP) by 3.9% during the second quarter, Holdings Channel reports. The fund owned 2,451 shares of the payment services company’s stock after selling 100 shares during the period. Financial Architects Inc’s holdings in American Express were worth $206,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of AXP. SeaBridge Investment Advisors LLC acquired a new stake in American Express during the first quarter worth $100,000. MCF Advisors LLC boosted its stake 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 worth $101,000 after buying an additional 6 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after buying an additional 300 shares during the last quarter. SpiderRock Advisors LLC acquired a new stake in American Express during the first quarter worth $112,000. Finally, SRS Capital Advisors Inc. boosted its stake in American Express by 10.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after buying an additional 138 shares during the last quarter. 83.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of American Express Company (AXP) traded up 1.433% on Tuesday, hitting $86.695. 1,461,754 shares of the stock were exchanged. American Express Company has a 1-year low of $59.50 and a 1-year high of $86.75. The stock’s 50-day moving average is $84.88 and its 200-day moving average is $80.33. The stock has a market cap of $76.64 billion, a price-to-earnings ratio of 17.780 and a beta of 1.18.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.03. The company 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%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.10 earnings per share. Analysts forecast that American Express Company will post $5.74 earnings per share for the current year.
American Express declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $4.40 billion in shares. This buyback authorization authorizes the payment services company to reacquire up to 5.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
A number of research firms recently weighed in on AXP. BidaskClub raised shares of American Express from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $94.00 price objective (up from $87.00) on shares of American Express in a research note on Saturday, July 22nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $85.00 price objective on shares of American Express in a research note on Saturday, July 22nd. Instinet reaffirmed an “underperform” rating and set a $80.00 price objective on shares of American Express in a research note on Thursday, June 29th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $100.00 price objective (up from $99.00) on shares of American Express in a research note on Saturday, July 22nd. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $84.77.
In related news, insider Anre D. Williams sold 53,111 shares of the 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 owns 79,614 shares in the company, valued at $6,786,297.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kenneth I. Chenault sold 789,503 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $84.62, for a total transaction of $66,807,743.86. Following the transaction, the chief executive officer now owns 889,836 shares of the company’s stock, valued at approximately $75,297,922.32. The disclosure for this sale can be found here. In 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).
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