Level Four Advisory Services LLC Has $320,000 Stake in American Express Company (AXP)
Level Four Advisory Services LLC increased its position in American Express Company (NYSE:AXP) by 3.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,111 shares of the payment services company’s stock after buying an additional 134 shares during the period. Level Four Advisory Services LLC’s holdings in American Express were worth $320,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. SeaBridge Investment Advisors LLC bought a new stake in shares of American Express during the first quarter worth about $100,000. MCF Advisors LLC boosted its stake 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 worth $101,000 after buying an additional 6 shares in the last quarter. SpiderRock Advisors LLC bought a new stake in shares of American Express during the first quarter worth about $112,000. SRS Capital Advisors Inc. boosted its stake 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 worth $116,000 after buying an additional 138 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its stake 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 worth $119,000 after buying an additional 410 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.
American Express Company (AXP) traded down 0.60% during mid-day trading on Friday, hitting $84.05. The stock had a trading volume of 1,252,168 shares. American Express Company has a 52 week low of $59.50 and a 52 week high of $86.67. The company’s 50 day moving average is $84.73 and its 200-day moving average is $80.16. The stock has a market capitalization of $74.30 billion, a P/E ratio of 17.24 and a beta of 1.18.
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 the Thomson Reuters’ consensus estimate of $1.44 by $0.03. The company had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.20 billion. American Express had a return on equity of 21.90% and a net margin of 14.11%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.10 earnings per share. On average, analysts expect that American Express Company will post $5.74 EPS for the current fiscal year.
American Express declared that its Board of Directors has authorized a stock buyback 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 repurchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
A number of equities research analysts have recently issued reports on the company. Piper Jaffray Companies reiterated a “neutral” rating and set a $83.00 price objective (up previously from $82.00) on shares of American Express in a research note on Saturday, April 22nd. BidaskClub upgraded American Express from a “sell” rating to a “hold” rating in a research note on Tuesday. Instinet reiterated an “underperform” rating and set a $80.00 price objective on shares of American Express in a research note on Thursday, June 29th. Barclays PLC reissued a “buy” rating and set a $83.00 target price on shares of American Express in a report on Thursday, July 20th. Finally, BMO Capital Markets reissued a “hold” rating and set a $84.00 target price on shares of American Express in a report on Thursday, June 1st. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $84.77.
In other news, EVP Marc D. Gordon sold 4,900 shares of American Express stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $76.98, for a total value of $377,202.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 5,981 shares of American Express stock in a transaction on Friday, July 21st. The shares were sold at an average price of $85.88, for a total value of $513,648.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 948,287 shares of company stock valued at $80,321,961. 0.67% of the stock is owned by company insiders.
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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