Capstone Asset Management Co. decreased its position in shares of American Express Company (NYSE:AXP) by 4.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,110 shares of the payment services company’s stock after selling 2,591 shares during the quarter. Capstone Asset Management Co.’s holdings in American Express were worth $5,064,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BKD Wealth Advisors LLC boosted its holdings in shares of American Express by 7.8% during the 2nd quarter. BKD Wealth Advisors LLC now owns 22,770 shares of the payment services company’s stock valued at $1,918,000 after acquiring an additional 1,657 shares in the last quarter. First Command Bank boosted its holdings in shares of American Express by 4.7% during the 2nd quarter. First Command Bank now owns 2,849 shares of the payment services company’s stock valued at $240,000 after acquiring an additional 127 shares in the last quarter. Beacon Financial Group boosted its holdings in shares of American Express by 8.6% during the 2nd quarter. Beacon Financial Group now owns 15,757 shares of the payment services company’s stock valued at $1,318,000 after acquiring an additional 1,245 shares in the last quarter. Robinson Value Management Ltd. boosted its holdings in shares of American Express by 2.9% during the 2nd quarter. Robinson Value Management Ltd. now owns 26,770 shares of the payment services company’s stock valued at $2,255,000 after acquiring an additional 766 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in shares of American Express by 30.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 150,000 shares of the payment services company’s stock valued at $12,636,000 after acquiring an additional 35,000 shares in the last quarter. 82.80% of the stock is currently owned by institutional investors.

In related news, insider Susan Sobbott sold 6,000 shares of American Express stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $84.39, for a total transaction of $506,340.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 5,981 shares of American Express stock in a transaction on Friday, July 21st. The shares were sold at an average price of $85.88, for a total transaction of $513,648.28. The disclosure for this sale can be found here. Insiders have sold a total of 949,387 shares of company stock worth $80,451,099 in the last quarter. Corporate insiders own 0.67% of the company’s stock.

Several equities research analysts recently weighed in on AXP shares. Zacks Investment Research downgraded American Express from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Morgan Stanley cut their target price on American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a report on Friday, September 8th. Jefferies Group LLC reaffirmed a “hold” rating and set a $85.00 target price on shares of American Express in a report on Saturday, July 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $100.00 target price (up from $99.00) on shares of American Express in a report on Saturday, July 22nd. Finally, Guggenheim reaffirmed a “buy” rating and set a $95.00 target price (up from $90.00) on shares of American Express in a report on Saturday, July 22nd. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company. American Express currently has an average rating of “Hold” and an average target price of $86.29.

American Express Company (AXP) traded up 0.93% during midday trading on Friday, hitting $86.99. The company’s stock had a trading volume of 7,791,555 shares. The company’s 50 day moving average price is $85.61 and its 200 day moving average price is $81.49. The firm has a market cap of $76.90 billion, a P/E ratio of 17.84 and a beta of 1.18. American Express Company has a 12 month low of $59.50 and a 12 month high of $87.78.

American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.03. The business had revenue of $8.31 billion for the quarter, compared to analysts’ expectations of $8.20 billion. American Express had a net margin of 14.11% and a return on equity of 21.90%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $2.10 EPS. Analysts expect that American Express Company will post $5.74 EPS for the current year.

American Express declared that its board has authorized a share repurchase 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 buy up to 5.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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American Express 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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