American Express Company (AXP) Shares Bought by OLD Dominion Capital Management Inc.
OLD Dominion Capital Management Inc. boosted its holdings in American Express Company (NYSE:AXP) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,910 shares of the payment services company’s stock after buying an additional 215 shares during the quarter. American Express makes up 0.9% of OLD Dominion Capital Management Inc.’s holdings, making the stock its 29th biggest holding. OLD Dominion Capital Management Inc.’s holdings in American Express were worth $835,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in AXP. MCF Advisors LLC boosted 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 boosted its stake in shares of American Express by 30.4% during 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 purchasing an additional 300 shares in the last quarter. SpiderRock Advisors LLC acquired a new stake in shares of American Express during the first quarter valued at about $112,000. SRS Capital Advisors Inc. boosted its stake in shares of American Express by 10.3% during the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock valued at $116,000 after purchasing an additional 138 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its stake in shares of American Express by 36.7% during the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after purchasing an additional 410 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. Credit Suisse Group AG reissued a “sell” rating and set a $79.00 price target on shares of American Express in a research note on Wednesday. Buckingham Research assumed coverage on American Express in a research note on Monday. They set a “neutral” rating and a $92.00 price target on the stock. Barclays PLC reissued a “buy” rating and set a $83.00 price target on shares of American Express in a research note on Thursday, July 20th. BidaskClub raised American Express from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Zacks Investment Research lowered American Express from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have given a buy rating to the company’s stock. American Express has an average rating of “Hold” and a consensus target price of $86.48.
Shares of American Express Company (NYSE:AXP) opened at 91.16 on Friday. The firm has a market cap of $80.58 billion, a PE ratio of 18.70 and a beta of 1.21. American Express Company has a 52 week low of $59.50 and a 52 week high of $91.64. The firm has a 50-day moving average price of $87.18 and a 200-day moving average price of $82.47.
American Express (NYSE:AXP) last announced its 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. American Express had a return on equity of 21.90% and a net margin of 14.11%. The firm had revenue of $8.31 billion during the quarter, compared to analyst estimates of $8.20 billion. During the same quarter in the prior year, the company earned $2.10 EPS. The business’s revenue was up .9% compared to the same quarter last year. On average, equities research analysts predict that American Express Company will post $5.74 earnings per share for the current year.
American Express declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $4.40 billion in shares. This repurchase authorization permits the payment services company to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be given a $0.35 dividend. The ex-dividend date is Thursday, October 5th. This represents a $1.40 annualized dividend and a dividend yield of 1.54%. This is a positive change from American Express’s previous quarterly dividend of $0.32. American Express’s dividend payout ratio is currently 26.18%.
In other news, insider Susan Sobbott sold 6,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $84.39, for a total value of $506,340.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anre D. Williams sold 53,111 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly 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. Insiders sold a total of 959,617 shares of company stock valued at $81,377,425 in the last three months. Corporate insiders own 0.67% of the company’s stock.
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).
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