American Express Company (AXP) Holdings Held by Cottage Street Advisors LLC
Cottage Street Advisors LLC maintained its position in American Express Company (NYSE:AXP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,400 shares of the payment services company’s stock at the close of the 2nd quarter. Cottage Street Advisors LLC’s holdings in American Express were worth $286,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. MCF Advisors LLC increased its position 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 purchasing an additional 6 shares in the last quarter. Appleton Partners Inc. MA boosted its stake in American Express by 0.3% in the 2nd quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock worth $224,000 after buying an additional 8 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake 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 buying an additional 10 shares during the last quarter. Bath Savings Trust Co boosted its stake in American Express by 0.3% in the 2nd quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock worth $369,000 after buying an additional 14 shares during the last quarter. Finally, Accredited Investors Inc. boosted its stake in American Express by 0.5% in the 1st quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock worth $251,000 after buying an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 82.77% of the company’s stock.
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American Express Company (NYSE:AXP) traded down 0.02% during midday trading on Friday, reaching $88.40. The company’s stock had a trading volume of 2,770,085 shares. The stock has a 50 day moving average of $85.80 and a 200 day moving average of $81.62. American Express Company has a 52 week low of $59.50 and a 52 week high of $89.23. The firm has a market capitalization of $78.14 billion, a PE ratio of 18.13 and a beta of 1.18.
American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, topping the 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%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.10 EPS. On average, equities research analysts predict that American Express Company will post $5.74 earnings per share for the current fiscal year.
American Express announced that its board has initiated a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $4.40 billion in shares. This buyback authorization authorizes the payment services company to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.
A number of brokerages have issued reports on AXP. BidaskClub raised American Express from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research note on Tuesday, August 29th. Instinet reissued an “underperform” rating and issued a $80.00 price target on shares of American Express in a research note on Thursday, June 29th. Barclays PLC reissued a “buy” rating and issued a $83.00 price target on shares of American Express in a research note on Thursday, July 20th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $84.00 price target on shares of American Express in a research note on Thursday, June 1st. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $86.29.
In other news, insider Susan Sobbott sold 6,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $84.39, for a total transaction of $506,340.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anre D. Williams sold 53,111 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $85.24, for a total value of $4,527,181.64. Following the sale, the insider now owns 79,614 shares of the company’s stock, valued at approximately $6,786,297.36. The disclosure for this sale can be found here. In the last quarter, insiders have sold 949,387 shares of company stock valued at $80,451,099. 0.67% of the stock is currently owned by corporate insiders.
American Express Company 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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