American Express Company (AXP) Position Increased by Telemus Capital LLC
Telemus Capital LLC raised its position in American Express Company (NYSE:AXP) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,734 shares of the payment services company’s stock after purchasing an additional 85 shares during the quarter. Telemus Capital LLC’s holdings in American Express were worth $567,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of AXP. Waldron LP purchased a new stake in American Express in the 1st quarter worth about $246,000. Adams Diversified Equity Fund Inc. raised its position in American Express by 91.8% in the 1st quarter. Adams Diversified Equity Fund Inc. now owns 302,400 shares of the payment services company’s stock worth $23,923,000 after purchasing an additional 144,700 shares during the period. Brookstone Capital Management raised its position in American Express by 18.2% in the 1st quarter. Brookstone Capital Management now owns 4,024 shares of the payment services company’s stock worth $318,000 after purchasing an additional 620 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in American Express by 0.4% in the 1st quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,641 shares of the payment services company’s stock worth $209,000 after purchasing an additional 10 shares during the period. Finally, Arcadia Investment Management Corp MI raised its position in American Express by 12.8% in the 1st quarter. Arcadia Investment Management Corp MI now owns 19,907 shares of the payment services company’s stock worth $1,575,000 after purchasing an additional 2,265 shares during the period. 82.77% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on AXP shares. Guggenheim reissued a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of American Express in a research report on Saturday, July 22nd. Barclays PLC reissued a “buy” rating and issued a $83.00 price objective on shares of American Express in a research report on Thursday, July 20th. BidaskClub raised shares of American Express from a “hold” rating to a “buy” rating in a research 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 research report on Saturday, August 19th. Finally, Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research report on Tuesday, August 29th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $86.29.
Shares of American Express Company (AXP) opened at 89.49 on Thursday. American Express Company has a 52 week low of $59.50 and a 52 week high of $89.74. The firm has a 50-day moving average of $85.80 and a 200 day moving average of $81.62. The firm has a market capitalization of $79.11 billion, a P/E ratio of 18.35 and a beta of 1.18.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.03. American Express had a net margin of 14.11% and a return on equity of 21.90%. The company had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.20 billion. During the same period in the prior year, the firm posted $2.10 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities research analysts expect that American Express Company will post $5.74 EPS for the current fiscal year.
American Express announced that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that permits the company to repurchase $4.40 billion in outstanding shares. This repurchase authorization permits the payment services company to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be given a $0.35 dividend. The ex-dividend date is Thursday, October 5th. This is an increase from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.58%. American Express’s dividend payout ratio is currently 26.18%.
In other American Express news, insider Paul D. Fabara sold 5,981 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $85.88, for a total value of $513,648.28. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Susan Sobbott sold 6,000 shares of the 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 disclosure for this sale can be found here. Over the last three months, insiders sold 949,387 shares of company stock worth $80,451,099. Insiders own 0.67% of the company’s stock.
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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