American Express Company (AXP) Stake Lifted by Franklin Street Advisors Inc. NC
Franklin Street Advisors Inc. NC lifted its position in shares of American Express Company (NYSE:AXP) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,887 shares of the payment services company’s stock after purchasing an additional 495 shares during the period. American Express accounts for 1.5% of Franklin Street Advisors Inc. NC’s portfolio, making the stock its 22nd largest holding. Franklin Street Advisors Inc. NC’s holdings in American Express were worth $8,920,000 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 increased its stake in shares of 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 purchasing an additional 6 shares during the last quarter. SpiderRock Advisors LLC acquired a new position in shares of American Express during the 1st quarter worth about $112,000. SRS Capital Advisors Inc. increased its stake in shares of 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 purchasing an additional 138 shares during the last quarter. Westside Investment Management Inc. increased its stake in shares of 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 purchasing an additional 410 shares during the last quarter. Finally, City Holding Co. increased its stake in shares of 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 purchasing an additional 41 shares during the last quarter. Institutional investors own 82.77% of the company’s stock.
Shares of American Express Company (NYSE:AXP) traded down 0.31% during mid-day trading on Monday, hitting $88.13. 1,227,680 shares of the stock were exchanged. The stock’s 50-day moving average is $85.80 and its 200-day moving average is $81.62. The stock has a market capitalization of $77.91 billion, a price-to-earnings ratio of 18.07 and a beta of 1.18. American Express Company has a 52 week low of $59.50 and a 52 week high of $89.38.
American Express (NYSE:AXP) last issued its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.44 by $0.03. The company had revenue of $8.31 billion during 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%. American Express’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.10 earnings per share. Analysts forecast that American Express Company will post $5.74 earnings per share for the current fiscal year.
American Express declared that its Board of Directors has approved a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $4.40 billion in shares. This buyback authorization permits the payment services company to reacquire up to 5.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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Several research analysts have recently weighed in on the stock. Credit Suisse Group restated a “sell” rating on shares of American Express in a research note on Wednesday, July 19th. BidaskClub upgraded shares of American Express from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. BMO Capital Markets restated a “hold” rating and set a $84.00 price objective on shares of American Express in a research note on Thursday, June 1st. Jefferies Group LLC restated a “hold” rating and set a $85.00 price objective on shares of American Express in a research note on Saturday, July 22nd. Finally, Keefe, Bruyette & Woods set a $95.00 price objective on shares of American Express and gave the stock a “buy” rating in a research note on Saturday, August 19th. Three investment 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. American Express has an average rating of “Hold” and a consensus 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 shares were sold at an average price of $84.39, for a total transaction of $506,340.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kenneth I. Chenault sold 789,503 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 889,836 shares of the company’s stock, valued at approximately $75,297,922.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 949,387 shares of company stock valued at $80,451,099. 0.67% of the stock is owned by corporate insiders.
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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