Vanguard Group Inc. boosted its holdings in American Express Company (NYSE:AXP) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,502,529 shares of the payment services company’s stock after purchasing an additional 722,235 shares during the period. Vanguard Group Inc.’s holdings in American Express were worth $3,916,145,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in American Express by 21.7% during the 1st quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock worth $1,360,596,000 after purchasing an additional 3,071,573 shares in the last quarter. Tesco Pension Investment Ltd purchased a new stake in American Express during the 1st quarter worth about $137,325,000. OppenheimerFunds Inc. lifted its holdings in American Express by 40.1% during the 1st quarter. OppenheimerFunds Inc. now owns 3,627,184 shares of the payment services company’s stock worth $286,946,000 after purchasing an additional 1,038,328 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in American Express by 9.4% during the 1st quarter. Bank of New York Mellon Corp now owns 10,274,363 shares of the payment services company’s stock worth $812,804,000 after purchasing an additional 879,569 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in American Express by 592.2% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 895,790 shares of the payment services company’s stock worth $70,866,000 after purchasing an additional 766,381 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.

American Express Company (NYSE:AXP) traded up 0.05% on Friday, reaching $86.14. The company had a trading volume of 2,262,735 shares. American Express Company has a 52 week low of $59.50 and a 52 week high of $87.78. The stock’s 50-day moving average is $85.48 and its 200-day moving average is $81.11. The company has a market capitalization of $76.15 billion, a P/E ratio of 17.67 and a beta of 1.18.

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

American Express announced that its board has authorized a share repurchase program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.

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A number of equities analysts have weighed in on AXP shares. BidaskClub lowered American Express from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Sanford C. Bernstein restated an “outperform” rating and issued a $100.00 target price (up from $99.00) on shares of American Express in a research note on Saturday, July 22nd. Guggenheim restated a “buy” rating and issued a $95.00 target price (up from $90.00) on shares of American Express in a research note on Saturday, July 22nd. Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Instinet restated an “underperform” rating and issued a $80.00 target price on shares of American Express in a research note on Thursday, June 29th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $85.20.

In other American Express news, Vice Chairman Stephen J. Squeri sold 94,792 shares of the company’s stock in a transaction on Tuesday, July 25th. The stock was 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Anre D. Williams sold 53,111 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $85.24, for a total value of $4,527,181.64. Following the sale, the insider now owns 79,614 shares of the company’s stock, valued at approximately $6,786,297.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 943,387 shares of company stock valued at $79,944,759. 0.67% of the stock is owned by company 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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