Gotham Asset Management LLC reduced its stake in American Express Company (NYSE:AXP) by 36.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,905 shares of the payment services company’s stock after selling 1,651 shares during the period. Gotham Asset Management LLC’s holdings in American Express were worth $230,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Rothschild Investment Corp IL increased its stake in American Express by 2.3% in the first quarter. Rothschild Investment Corp IL now owns 5,297 shares of the payment services company’s stock valued at $419,000 after buying an additional 120 shares in the last quarter. 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 valued at $1,367,000 after buying an additional 819 shares in the last quarter. LS Investment Advisors LLC increased its stake in 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 valued at $2,023,000 after buying an additional 206 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in 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 valued at $405,000 after buying an additional 128 shares in the last quarter. Finally, Pinnacle Bank acquired a new stake in American Express during the first quarter valued at $231,000. 83.81% of the stock is owned by institutional investors and hedge funds.

Shares of American Express Company (NYSE:AXP) traded down 0.32% during midday trading on Friday, reaching $84.29. 3,078,650 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $84.79 and its 200 day moving average price is $80.22. American Express Company has a 12-month low of $59.50 and a 12-month high of $86.67. The company has a market cap of $74.51 billion, a price-to-earnings ratio of 17.29 and a beta of 1.18.

American Express (NYSE:AXP) last issued its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. American Express had a net margin of 14.11% and a return on equity of 21.90%. The firm had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.20 billion. During the same quarter in the previous year, the firm earned $2.10 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts anticipate that American Express Company will post $5.74 earnings per share for the current fiscal year.

American Express declared that its Board of Directors has initiated a share repurchase program 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 shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

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Several brokerages have recently commented on AXP. Credit Suisse Group reaffirmed a “sell” rating on shares of American Express in a research note on Wednesday, July 19th. Barclays PLC reaffirmed a “buy” rating and set a $83.00 price objective on shares of American Express in a research note on Thursday, July 20th. BidaskClub raised shares of American Express from a “sell” rating to a “hold” rating in a research note on Tuesday. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $94.00 price objective (up from $87.00) on shares of American Express in a research note on Saturday, July 22nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $85.00 price objective on shares of American Express in a research note on Saturday, July 22nd. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $84.77.

In other news, CEO Kenneth I. Chenault sold 789,503 shares of American Express stock in a transaction that occurred on Monday, July 24th. The shares were 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 owns 889,836 shares of the company’s stock, valued at approximately $75,297,922.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Stephen J. Squeri sold 94,792 shares of American Express stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $85.41, for a total transaction of $8,096,184.72. Following the completion of the transaction, the insider now directly owns 261,665 shares in the company, valued at approximately $22,348,807.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 948,287 shares of company stock worth $80,321,961. 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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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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