American Express Company (AXP) Stake Maintained by Westwood Management Corp IL
Westwood Management Corp IL held its position in shares of American Express Company (NYSE:AXP) during the second quarter, Holdings Channel reports. The institutional investor owned 3,800 shares of the payment services company’s stock at the end of the second quarter. Westwood Management Corp IL’s holdings in American Express were worth $320,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of AXP. SeaBridge Investment Advisors LLC bought a new position in shares of American Express during the first quarter valued at $100,000. MCF Advisors LLC raised its position in shares of 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 during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its position in shares of 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 during the last quarter. SpiderRock Advisors LLC bought a new position in shares of American Express during the first quarter valued at $112,000. Finally, SRS Capital Advisors Inc. raised its position in shares of 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 during the last quarter. 83.81% of the stock is currently owned by institutional investors.
American Express Company (AXP) traded down 0.32% during midday trading on Friday, hitting $84.29. 3,078,650 shares of the stock were exchanged. American Express Company has a 1-year low of $59.50 and a 1-year high of $86.67. The company has a market capitalization of $74.51 billion, a P/E ratio of 17.29 and a beta of 1.18. The company’s 50 day moving average is $84.79 and its 200 day moving average is $80.22.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $8.20 billion. During the same quarter last year, the firm posted $2.10 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. Analysts predict that American Express Company will post $5.74 earnings per share for the current fiscal year.
American Express announced that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that allows the company to repurchase $4.40 billion in shares. This repurchase authorization allows the payment services company to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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AXP has been the topic of several research analyst reports. Guggenheim raised shares of American Express from a “neutral” rating to a “buy” rating and increased their price objective for the company from $81.05 to $90.00 in a research report on Tuesday, April 25th. BidaskClub raised shares of American Express from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. 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. Stephens raised shares of American Express from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $70.00 to $82.00 in a research report on Tuesday, June 20th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $85.00 price objective on shares of American Express in a research report on Friday, April 28th. Four 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’s stock. The company presently has an average rating of “Hold” and an average target price of $84.77.
In related news, insider Paul D. Fabara sold 5,981 shares of the firm’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anre D. Williams sold 53,111 shares of the firm’s stock in a transaction 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 sale, 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 948,287 shares of company stock valued at $80,321,961 in the last ninety days. 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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