American Express Company (AXP) Shares Bought by Adams Diversified Equity Fund Inc.
Adams Diversified Equity Fund Inc. boosted its stake in shares of American Express Company (NYSE:AXP) by 25.1% during the second quarter, Holdings Channel reports. The institutional investor owned 378,300 shares of the payment services company’s stock after buying an additional 75,900 shares during the period. American Express accounts for about 1.8% of Adams Diversified Equity Fund Inc.’s investment portfolio, making the stock its 11th largest position. Adams Diversified Equity Fund Inc.’s holdings in American Express were worth $31,868,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. SeaBridge Investment Advisors LLC purchased a new stake in American Express during the first quarter valued at about $100,000. MCF Advisors LLC increased its stake in 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 buying an additional 6 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in 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 buying an additional 300 shares in the last quarter. SpiderRock Advisors LLC purchased a new stake in American Express during the first quarter valued at about $112,000. Finally, SRS Capital Advisors Inc. increased its stake in 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 buying an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 83.86% of the company’s stock.
American Express Company (NYSE AXP) traded down 0.624% during mid-day trading on Thursday, reaching $86.845. The company’s stock had a trading volume of 1,555,505 shares. The stock’s 50-day moving average is $85.12 and its 200-day moving average is $80.45. The firm has a market capitalization of $76.77 billion, a PE ratio of 17.811 and a beta of 1.18. American Express Company has a 12 month low of $59.50 and a 12 month high of $87.78.
American Express (NYSE:AXP) last issued its earnings results 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 return on equity of 21.90% and a net margin of 14.11%. The company had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.20 billion. During the same period in the previous year, the firm posted $2.10 earnings per share. American Express’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts anticipate that American Express Company will post $5.74 EPS for the current year.
American Express declared that its Board of Directors has approved a share buyback 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 purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
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Several research firms recently issued reports on AXP. Piper Jaffray Companies reiterated a “neutral” rating and issued a $83.00 price objective (up previously from $82.00) on shares of American Express in a report on Saturday, April 22nd. BidaskClub raised American Express from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Instinet reissued an “underperform” rating and set a $80.00 target price on shares of American Express in a research note on Thursday, June 29th. Barclays PLC reissued a “buy” rating and set a $83.00 target price on shares of American Express in a research note on Thursday, July 20th. Finally, BMO Capital Markets reissued a “hold” rating and set a $84.00 target price on shares of American Express in a research note on Thursday, June 1st. Four equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have given a buy rating to the company. American Express presently has a consensus rating of “Hold” and an average target price of $84.77.
In other American Express news, insider Paul D. Fabara sold 5,981 shares of American Express stock in a transaction that occurred on Friday, July 21st. The stock was 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marc D. Gordon sold 4,900 shares of American Express stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $76.98, for a total value of $377,202.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 948,287 shares of company stock valued at $80,321,961. 0.67% of the stock is currently owned by 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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