Brouwer & Janachowski LLC Maintains Stake in American Express Company (AXP)
Brouwer & Janachowski LLC held its position in American Express Company (NYSE:AXP) during the second quarter, Holdings Channel reports. The firm owned 2,745 shares of the payment services company’s stock at the end of the second quarter. Brouwer & Janachowski LLC’s holdings in American Express were worth $231,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of AXP. Sheets Smith Wealth Management increased its position in American Express by 2.7% in the first quarter. Sheets Smith Wealth Management now owns 6,461 shares of the payment services company’s stock valued at $511,000 after buying an additional 167 shares during the last quarter. Quadrant Capital Group LLC increased its position in American Express by 0.4% in the first quarter. Quadrant Capital Group LLC now owns 43,094 shares of the payment services company’s stock valued at $3,400,000 after buying an additional 183 shares during the last quarter. Country Club Trust Company n.a. acquired a new position in American Express during the first quarter valued at $525,000. Carroll Financial Associates Inc. increased its position in American Express by 1,160.0% in the first quarter. Carroll Financial Associates Inc. now owns 47,312 shares of the payment services company’s stock valued at $3,742,000 after buying an additional 43,557 shares during the last quarter. Finally, Pennsylvania Trust Co increased its position in American Express by 5.5% in the first quarter. Pennsylvania Trust Co now owns 55,668 shares of the payment services company’s stock worth $4,404,000 after buying an additional 2,895 shares in the last quarter. Institutional investors and hedge funds own 83.81% of the company’s stock.
Shares of American Express Company (NYSE AXP) traded down 0.313% during trading on Friday, hitting $84.295. The stock had a trading volume of 1,663,018 shares. American Express Company has a 12 month low of $59.50 and a 12 month high of $86.67. The stock has a market cap of $74.52 billion, a price-to-earnings ratio of 17.288 and a beta of 1.18. The company’s 50 day moving average price is $84.73 and its 200 day moving average price is $80.16.
American Express (NYSE:AXP) last posted its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.03. The firm had revenue of $8.31 billion for 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 company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.10 EPS. Equities research analysts expect 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 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 reacquire up to 5.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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A number of research analysts have recently commented on the company. Credit Suisse Group reiterated a “sell” rating on shares of American Express in a research report on Wednesday, July 19th. Barclays PLC reiterated a “buy” rating and set a $83.00 target price on shares of American Express in a research report on Thursday, July 20th. BidaskClub upgraded American Express from a “sell” rating to a “hold” rating in a research report on Tuesday. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $94.00 target price (up from $87.00) on shares of American Express in a research report on Saturday, July 22nd. Finally, Guggenheim reiterated a “buy” rating and set a $95.00 target price (up from $90.00) on shares of American Express in a research report on Saturday, July 22nd. 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 stock. The stock currently has an average rating of “Hold” and a consensus target price of $84.77.
In related news, CEO Kenneth I. Chenault sold 789,503 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $84.62, for a total value of $66,807,743.86. Following the sale, the chief executive officer now owns 889,836 shares in the company, valued at approximately $75,297,922.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Anre D. Williams sold 53,111 shares of the business’s stock in a transaction on Monday, July 31st. The shares were 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 owns 79,614 shares in the company, valued at approximately $6,786,297.36. The disclosure for this sale can be found here. Insiders sold a total of 948,287 shares of company stock worth $80,321,961 in the last quarter. Company 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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