Cpcm LLC decreased its position in American Express Company (NYSE:AXP) by 20.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,269 shares of the payment services company’s stock after selling 859 shares during the period. Cpcm LLC’s holdings in American Express were worth $259,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AXP. Rothschild Investment Corp IL increased its position in shares of American Express by 2.3% in the first quarter. Rothschild Investment Corp IL now owns 5,297 shares of the payment services company’s stock worth $419,000 after buying an additional 120 shares in the last quarter. Ledyard National Bank increased its position in shares of American Express by 301.7% in the first quarter. Ledyard National Bank now owns 5,073 shares of the payment services company’s stock worth $402,000 after buying an additional 3,810 shares in the last quarter. Mount Vernon Associates Inc. MD increased its position in shares of American Express by 6.5% in the first quarter. Mount Vernon Associates Inc. MD now owns 18,075 shares of the payment services company’s stock worth $1,430,000 after buying an additional 1,100 shares in the last quarter. Quantitative Systematic Strategies LLC increased its position in shares of American Express by 14.0% in the first quarter. Quantitative Systematic Strategies LLC now owns 11,218 shares of the payment services company’s stock worth $887,000 after buying an additional 1,374 shares in the last quarter. Finally, Boston Advisors LLC increased its position in shares of American Express by 13.4% in the first quarter. Boston Advisors LLC now owns 3,216 shares of the payment services company’s stock worth $254,000 after buying an additional 380 shares in the last quarter. 83.86% of the stock is owned by institutional investors and hedge funds.

American Express Company (AXP) traded down 0.49% on Friday, hitting $85.67. 1,606,883 shares of the company were exchanged. American Express Company has a 52 week low of $59.50 and a 52 week high of $87.78. The stock has a market capitalization of $75.73 billion, a P/E ratio of 17.57 and a beta of 1.18. The company has a 50 day moving average price of $85.18 and a 200-day moving average price of $80.49.

American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.20 billion. During the same period in the prior year, the firm posted $2.10 EPS. American Express’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts expect that American Express Company will post $5.74 earnings per share for the current fiscal year.

American Express announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that permits the company to buyback $4.40 billion in outstanding 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 board believes its stock is undervalued.

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A number of research firms have commented on AXP. Credit Suisse Group restated a “sell” rating on shares of American Express in a report on Wednesday, July 19th. Barclays PLC restated a “buy” rating and issued a $83.00 price target on shares of American Express in a report on Thursday, July 20th. BidaskClub upgraded shares of American Express from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $94.00 price target (up from $87.00) on shares of American Express in a report on Saturday, July 22nd. Finally, Guggenheim restated a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of American Express in a report on Saturday, July 22nd. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $84.77.

In related news, 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 sale, the chief executive officer now directly owns 889,836 shares of the company’s stock, valued at approximately $75,297,922.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marc D. Gordon sold 4,900 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $76.98, for a total transaction of $377,202.00. 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 over the last three months. 0.67% of the stock is currently 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).

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

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