MCF Advisors LLC increased its position in shares of American Express Company (NYSE:AXP) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,286 shares of the payment services company’s stock after buying an additional 4 shares during the period. MCF Advisors LLC’s holdings in American Express were worth $108,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Appleton Partners Inc. MA increased its position in shares of American Express by 0.3% in the second quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock worth $224,000 after buying an additional 8 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of 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 worth $209,000 after buying an additional 10 shares during the period. Bath Savings Trust Co increased its position in shares of American Express by 0.3% in the second quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock worth $369,000 after buying an additional 14 shares during the period. Accredited Investors Inc. increased its position in shares of American Express by 0.5% in the first quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock worth $251,000 after buying an additional 15 shares during the period. Finally, North Star Investment Management Corp. increased its position in shares of American Express by 0.7% in the second quarter. North Star Investment Management Corp. now owns 2,947 shares of the payment services company’s stock worth $248,000 after buying an additional 20 shares during the period. Institutional investors own 82.78% of the company’s stock.

American Express Company (NYSE AXP) traded up 0.30% during trading on Wednesday, reaching $85.68. 870,913 shares of the company traded hands. The firm has a 50-day moving average price of $85.32 and a 200-day moving average price of $80.84. The company has a market capitalization of $75.74 billion, a P/E ratio of 17.57 and a beta of 1.18. American Express Company has a 52 week low of $59.50 and a 52 week high of $87.78.

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

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

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A number of brokerages recently weighed in on AXP. Keefe, Bruyette & Woods set a $95.00 price objective on shares of American Express and gave the company a “buy” rating in a research report on Saturday, August 19th. Zacks Investment Research downgraded shares of American Express from a “buy” rating to a “hold” rating in a research report on Wednesday. Credit Suisse Group restated a “sell” rating on shares of American Express in a research report on Wednesday, July 19th. BidaskClub upgraded shares of American Express from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, BMO Capital Markets restated a “hold” rating and set a $84.00 price objective on shares of American Express in a research report on Thursday, June 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have issued a buy rating to the company. American Express presently has an average rating of “Hold” and a consensus price target of $85.20.

In related news, 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 value of $513,648.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kenneth I. Chenault sold 789,503 shares of the business’s 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 completion of the transaction, the chief executive officer now directly 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. Insiders sold a total of 943,387 shares of company stock valued at $79,944,759 in the last three months. 0.67% of the stock is currently owned by corporate 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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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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