Hussman Strategic Advisors Inc. Has $6.43 Million Stake in American Express Company (AXP)
Hussman Strategic Advisors Inc. grew its holdings in shares of American Express Company (NYSE:AXP) by 48.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 76,300 shares of the payment services company’s stock after buying an additional 25,000 shares during the quarter. American Express accounts for about 1.4% of Hussman Strategic Advisors Inc.’s investment portfolio, making the stock its 11th biggest position. Hussman Strategic Advisors Inc.’s holdings in American Express were worth $6,428,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. MCF Advisors LLC boosted its holdings 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 purchasing an additional 6 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings 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 purchasing an additional 300 shares during the period. SpiderRock Advisors LLC purchased a new stake in shares of American Express in the first quarter valued at approximately $112,000. SRS Capital Advisors Inc. boosted its holdings 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 purchasing an additional 138 shares during the period. Finally, Westside Investment Management Inc. boosted its holdings in shares of American Express by 36.7% in the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after purchasing an additional 410 shares during the period. 82.77% of the stock is currently owned by hedge funds and other institutional investors.
AXP has been the subject of a number of research reports. Guggenheim reiterated a “buy” rating and issued a $95.00 price target (up previously from $90.00) on shares of American Express in a report on Saturday, July 22nd. Barclays PLC reiterated a “buy” rating and issued a $83.00 price target on shares of American Express in a report on Thursday, July 20th. BidaskClub upgraded American Express from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Keefe, Bruyette & Woods set a $95.00 price target on American Express and gave the company a “buy” rating in a report on Saturday, August 19th. Finally, Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a report on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $86.29.
In related news, Vice Chairman Stephen J. Squeri sold 94,792 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 261,665 shares of the company’s stock, valued at $22,348,807.65. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction 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 $6,786,297.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 949,387 shares of company stock valued at $80,451,099. 0.67% of the stock is owned by corporate insiders.
American Express Company (NYSE:AXP) opened at 90.46 on Friday. The firm has a market capitalization of $79.96 billion, a P/E ratio of 18.55 and a beta of 1.18. The company has a 50 day moving average price of $85.80 and a 200 day moving average price of $81.62. American Express Company has a 52-week low of $59.50 and a 52-week high of $90.77.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $8.20 billion. During the same period in the previous year, the company earned $2.10 earnings per share. American Express’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts forecast that American Express Company will post $5.74 EPS for the current fiscal year.
American Express announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $4.40 billion in shares. This repurchase authorization authorizes the payment services company to purchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This is a boost from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.55%. American Express’s payout ratio is 26.18%.
American Express 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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