American Express Company (AXP) Position Trimmed by Family Capital Trust Co
Family Capital Trust Co decreased its position in shares of American Express Company (NYSE:AXP) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,104 shares of the payment services company’s stock after selling 825 shares during the quarter. American Express comprises approximately 2.4% of Family Capital Trust Co’s investment portfolio, making the stock its 13th biggest holding. Family Capital Trust Co’s holdings in American Express were worth $4,642,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC boosted its stake in American Express by 0.5% during the 1st quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock worth $101,000 after acquiring an additional 6 shares during the last quarter. SpiderRock Advisors LLC bought a new position in American Express during the 1st quarter worth approximately $112,000. SRS Capital Advisors Inc. boosted its stake in American Express by 10.3% during the 1st quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after acquiring an additional 138 shares during the last quarter. Westside Investment Management Inc. boosted its stake in American Express by 36.7% during the 1st quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after acquiring an additional 410 shares during the last quarter. Finally, City Holding Co. boosted its stake in American Express by 2.7% during the 2nd quarter. City Holding Co. now owns 1,572 shares of the payment services company’s stock worth $132,000 after acquiring an additional 41 shares during the last quarter. 82.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of American Express Company (NYSE AXP) traded down 0.02% during trading on Friday, reaching $88.40. 2,770,085 shares of the company were exchanged. American Express Company has a one year low of $59.50 and a one year high of $89.23. The company has a market capitalization of $78.14 billion, a PE ratio of 18.13 and a beta of 1.18. The firm’s 50 day moving average price is $85.80 and its 200 day moving average price is $81.62.
American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.03. The business 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.10 EPS. Equities research 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 share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $4.40 billion in shares. This repurchase authorization authorizes the payment services company to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.
Several research firms recently weighed in on AXP. Zacks Investment Research lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Morgan Stanley dropped their target price on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a report on Friday, September 8th. Keefe, Bruyette & Woods set a $95.00 target price on shares of American Express and gave the stock a “buy” rating in a report on Saturday, August 19th. BidaskClub upgraded shares of American Express from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Sanford C. Bernstein restated 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. 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 stock. The company currently has a consensus rating of “Hold” and an average target price of $86.29.
In related news, insider Paul D. Fabara sold 5,981 shares of the stock in a transaction on Friday, July 21st. The stock was sold at an average price of $85.88, for a total value of $513,648.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan Sobbott sold 6,000 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $84.39, for a total value of $506,340.00. 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 over the last three months. 0.67% of the stock is currently owned by 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).
Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express Company (NYSE:AXP).
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.