Nwam LLC Decreases Holdings in American Express Company (AXP)
Nwam LLC reduced its stake in American Express Company (NYSE:AXP) by 61.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,602 shares of the payment services company’s stock after selling 5,704 shares during the period. Nwam LLC’s holdings in American Express were worth $303,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in AXP. MCF Advisors LLC grew its stake in shares of American Express by 0.5% in the first quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock valued at $101,000 after acquiring an additional 6 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in shares of American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after acquiring an additional 300 shares in the last quarter. SpiderRock Advisors LLC acquired a new position in shares of American Express in the first quarter valued at about $112,000. SRS Capital Advisors Inc. grew its stake in shares of American Express by 10.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock valued at $116,000 after acquiring an additional 138 shares in the last quarter. Finally, Westside Investment Management Inc. grew its stake in shares of American Express by 36.7% in the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after acquiring an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 82.80% of the company’s stock.
American Express Company (NYSE AXP) opened at 86.99 on Friday. American Express Company has a 1-year low of $59.50 and a 1-year high of $87.78. The stock has a 50 day moving average price of $85.61 and a 200 day moving average price of $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 (NYSE:AXP) last released its earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.03. The company had revenue of $8.31 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.10 EPS. On average, analysts anticipate that American Express Company will post $5.74 EPS for the current year.
American Express announced that its board has authorized a share buyback program on Wednesday, June 28th that permits the company to repurchase $4.40 billion in shares. This repurchase authorization permits the payment services company to buy up to 5.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several equities analysts recently commented on AXP shares. Wells Fargo & Company restated a “market perform” rating and issued a $80.00 price target on shares of American Express in a research note on Sunday, May 21st. BMO Capital Markets restated a “hold” rating and issued a $84.00 price target on shares of American Express in a research note on Thursday, June 1st. BidaskClub upgraded shares of American Express from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Stephens upgraded shares of American Express from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $70.00 to $82.00 in a research note on Tuesday, June 20th. Finally, Instinet restated an “underperform” rating and issued a $80.00 price target on shares of American Express in a research note on Thursday, June 29th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $86.29.
In related news, insider Susan Sobbott sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $84.39, for a total value of $506,340.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Stephen J. Squeri sold 94,792 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $85.41, for a total value of $8,096,184.72. Following the completion of the sale, the insider now owns 261,665 shares of the company’s stock, valued at approximately $22,348,807.65. The disclosure for this sale can be found here. Insiders sold a total of 949,387 shares of company stock valued at $80,451,099 in the last 90 days. 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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