Fiduciary Management Inc. WI Sells 1,223,133 Shares of American Express Company (AXP)
Fiduciary Management Inc. WI decreased its position in shares of American Express Company (NYSE:AXP) by 24.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,783,205 shares of the payment services company’s stock after selling 1,223,133 shares during the period. American Express comprises approximately 1.7% of Fiduciary Management Inc. WI’s holdings, making the stock its 25th largest position. Fiduciary Management Inc. WI’s holdings in American Express were worth $299,289,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in AXP. Trust Co. of Vermont increased its stake in American Express by 5.0% in the first quarter. Trust Co. of Vermont now owns 17,289 shares of the payment services company’s stock worth $1,367,000 after buying an additional 819 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of American Express by 2.6% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,115 shares of the payment services company’s stock worth $405,000 after buying an additional 128 shares during the period. Victory Capital Management Inc. increased its position in shares of American Express by 14.2% in the first quarter. Victory Capital Management Inc. now owns 31,949 shares of the payment services company’s stock worth $2,527,000 after buying an additional 3,968 shares during the period. LS Investment Advisors LLC increased its position in shares of American Express by 0.8% in the first quarter. LS Investment Advisors LLC now owns 25,569 shares of the payment services company’s stock worth $2,023,000 after buying an additional 206 shares during the period. Finally, Sigma Planning Corp increased its position in shares of American Express by 17.9% in the first quarter. Sigma Planning Corp now owns 19,227 shares of the payment services company’s stock worth $1,521,000 after buying an additional 2,920 shares during the period. Institutional investors and hedge funds own 82.78% of the company’s stock.
American Express Company (NYSE AXP) traded up 0.40% during mid-day trading on Thursday, reaching $86.03. The company had a trading volume of 1,206,463 shares. American Express Company has a 52 week low of $59.50 and a 52 week high of $87.78. The stock has a market capitalization of $76.05 billion, a price-to-earnings ratio of 17.64 and a beta of 1.18. The stock has a 50 day moving average of $85.32 and a 200 day moving average of $80.84.
American Express (NYSE:AXP) last issued its earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share 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 business had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same period last year, the company posted $2.10 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. Analysts anticipate that American Express Company will post $5.74 earnings per share for the current year.
American Express declared that its board has approved a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $4.40 billion in outstanding shares. This repurchase authorization authorizes the payment services company to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
A number of research analysts recently issued reports on the company. Barclays PLC reiterated a “buy” rating and set a $83.00 price objective on shares of American Express in a research note on Thursday, July 20th. Credit Suisse Group reiterated a “sell” rating on shares of American Express in a research note on Wednesday, July 19th. BidaskClub upgraded American Express from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Sanford C. Bernstein reiterated an “outperform” rating and set a $100.00 price objective (up from $99.00) on shares of American Express in a research note on Saturday, July 22nd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $85.00 price objective on shares of American Express in a research note on Saturday, July 22nd. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $85.20.
In other American Express news, CEO Kenneth I. Chenault sold 789,503 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 889,836 shares of the company’s stock, valued at $75,297,922.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Stephen J. Squeri sold 94,792 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $85.41, for a total value of $8,096,184.72. Following the completion of the transaction, the insider now directly owns 261,665 shares in the company, valued at $22,348,807.65. The disclosure for this sale can be found here. Insiders sold 943,387 shares of company stock worth $79,944,759 over the last three months. 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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