HM Payson & Co. increased its position in American Express Company (NYSE:AXP) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 133,533 shares of the payment services company’s stock after buying an additional 4,066 shares during the period. HM Payson & Co.’s holdings in American Express were worth $10,564,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of American Express by 1.5% in the first quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock worth $3,916,145,000 after buying an additional 722,235 shares during the last quarter. BlackRock Inc. increased its position in shares of American Express by 2,686.0% in the first quarter. BlackRock Inc. now owns 44,177,867 shares of the payment services company’s stock worth $3,494,913,000 after buying an additional 42,592,136 shares during the last quarter. State Street Corp increased its position in shares of American Express by 1.8% in the first quarter. State Street Corp now owns 40,399,620 shares of the payment services company’s stock worth $3,196,011,000 after buying an additional 731,315 shares during the last quarter. Wellington Management Group LLP increased its position in shares of American Express by 21.7% in the first quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock worth $1,360,596,000 after buying an additional 3,071,573 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of American Express by 1.9% in the first quarter. First Eagle Investment Management LLC now owns 16,239,276 shares of the payment services company’s stock worth $1,284,689,000 after buying an additional 305,651 shares during the last quarter. Hedge funds and other institutional investors own 83.86% of the company’s stock.

American Express Company (NYSE:AXP) traded up 0.8182% on Wednesday, reaching $87.5001. The company had a trading volume of 979,937 shares. The firm has a 50-day moving average of $84.99 and a 200-day moving average of $80.40. American Express Company has a 12 month low of $59.50 and a 12 month high of $87.60. The stock has a market capitalization of $77.35 billion, a P/E ratio of 17.9451 and a beta of 1.18.

American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, beating 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 company 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 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. On average, 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 of Directors has initiated a share buyback program on Wednesday, June 28th that allows the company to buyback $4.40 billion in outstanding shares. This buyback authorization allows the payment services company to purchase up to 5.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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AXP has been the topic of a number of research analyst reports. Jefferies Group LLC restated a “hold” rating and issued a $85.00 target price on shares of American Express in a research report on Saturday, July 22nd. Sanford C. Bernstein restated an “outperform” rating and issued a $100.00 target price (up previously from $99.00) on shares of American Express in a research report on Saturday, July 22nd. Guggenheim upgraded American Express from a “neutral” rating to a “buy” rating and lifted their target price for the company from $81.05 to $90.00 in a research report on Tuesday, April 25th. Credit Suisse Group restated a “sell” rating on shares of American Express in a research report on Wednesday, July 19th. Finally, Nomura upgraded American Express from a “reduce” rating to a “neutral” rating and lifted their target price for the company from $63.00 to $78.00 in a research report on Thursday, April 27th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $84.77.

In other American Express news, Vice Chairman Stephen J. Squeri sold 94,792 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $85.41, for a total value of $8,096,184.72. Following the transaction, the insider now directly owns 261,665 shares of the company’s stock, valued at $22,348,807.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Marc D. Gordon sold 4,900 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $76.98, for a total value of $377,202.00. The disclosure for this sale can be found here. Insiders sold 948,287 shares of company stock worth $80,321,961 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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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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