American Express Company (AXP) Shares Bought by Lourd Capital LLC
Lourd Capital LLC increased its stake in shares of American Express Company (NYSE:AXP) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,697 shares of the payment services company’s stock after acquiring an additional 217 shares during the period. American Express comprises about 0.2% of Lourd Capital LLC’s portfolio, making the stock its 22nd largest position. Lourd Capital LLC’s holdings in American Express were worth $1,659,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently modified their holdings of the stock. Coronation Fund Managers Ltd. raised its holdings in shares of American Express by 6.4% during the second quarter. Coronation Fund Managers Ltd. now owns 317,055 shares of the payment services company’s stock worth $26,709,000 after acquiring an additional 19,188 shares during the period. Stonebridge Capital Management Inc. acquired a new stake in shares of American Express during the second quarter worth $358,000. Warren Averett Asset Management LLC raised its holdings in shares of American Express by 5.4% during the second quarter. Warren Averett Asset Management LLC now owns 20,217 shares of the payment services company’s stock worth $1,703,000 after acquiring an additional 1,038 shares during the period. Klingenstein Fields & Co. LLC raised its holdings in shares of American Express by 0.4% during the second quarter. Klingenstein Fields & Co. LLC now owns 373,603 shares of the payment services company’s stock worth $31,472,000 after acquiring an additional 1,304 shares during the period. Finally, Investment Counsel Inc. raised its holdings in shares of American Express by 9.8% during the second quarter. Investment Counsel Inc. now owns 13,486 shares of the payment services company’s stock worth $1,136,000 after acquiring an additional 1,200 shares during the period. Institutional investors and hedge funds own 82.80% of the company’s stock.
Shares of American Express Company (NYSE AXP) opened at 86.99 on Friday. The company has a market cap of $76.90 billion, a P/E ratio of 17.84 and a beta of 1.18. The company’s 50 day moving average is $85.61 and its 200 day moving average is $81.49. American Express Company has a one year low of $59.50 and a one year high of $87.78.
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. On average, equities analysts predict 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.
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 completion of the transaction, the chief executive officer now owns 889,836 shares in the company, valued at $75,297,922.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Susan Sobbott sold 6,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $84.39, for a total transaction of $506,340.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 949,387 shares of company stock valued at $80,451,099. 0.67% of the stock is owned by company insiders.
A number of equities research analysts recently commented on AXP shares. Barclays PLC restated a “buy” rating and set a $83.00 price objective on shares of American Express in a report on Thursday, July 20th. Guggenheim restated a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of American Express in a report on Saturday, July 22nd. BidaskClub upgraded shares of American Express from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Keefe, Bruyette & Woods set a $95.00 price objective on shares of American Express and gave the stock a “buy” rating in a report on Saturday, August 19th. Finally, Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a report on Tuesday, August 29th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $86.29.
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).
Receive News & Stock Ratings for American Express Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express Company and related stocks with our FREE daily email newsletter.