Tredje AP fonden lessened its holdings in shares of American Express (NYSE:AXP) by 15.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 95,472 shares of the payment services company’s stock after selling 17,149 shares during the quarter. Tredje AP fonden’s holdings in American Express were worth $9,356,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AXP. Boston Partners boosted its position in American Express by 447.8% during the first quarter. Boston Partners now owns 4,807,964 shares of the payment services company’s stock worth $448,487,000 after purchasing an additional 3,930,338 shares during the period. Veritas Asset Management LLP boosted its position in American Express by 9.0% during the first quarter. Veritas Asset Management LLP now owns 11,996,953 shares of the payment services company’s stock worth $1,119,076,000 after purchasing an additional 992,800 shares during the period. Cornerstone Wealth Management LLC boosted its position in American Express by 11,361.3% during the second quarter. Cornerstone Wealth Management LLC now owns 545,560 shares of the payment services company’s stock worth $5,511,000 after purchasing an additional 540,800 shares during the period. American Century Companies Inc. boosted its position in American Express by 11.5% during the first quarter. American Century Companies Inc. now owns 5,239,962 shares of the payment services company’s stock worth $488,784,000 after purchasing an additional 539,681 shares during the period. Finally, BlackRock Inc. boosted its position in American Express by 1.0% during the first quarter. BlackRock Inc. now owns 43,504,697 shares of the payment services company’s stock worth $4,058,115,000 after purchasing an additional 414,196 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

In other news, EVP Richard Petrino sold 9,880 shares of the business’s stock in a transaction on Tuesday, May 22nd. The shares were sold at an average price of $102.89, for a total transaction of $1,016,553.20. Following the sale, the executive vice president now owns 16,198 shares in the company, valued at approximately $1,666,612.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Stephen J. Squeri sold 12,500 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $99.73, for a total transaction of $1,246,625.00. Following the sale, the chief executive officer now owns 191,971 shares in the company, valued at approximately $19,145,267.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,184 shares of company stock worth $4,426,568. Company insiders own 0.20% of the company’s stock.

A number of equities analysts have weighed in on AXP shares. Oppenheimer set a $113.00 target price on shares of American Express and gave the stock a “buy” rating in a research report on Wednesday, July 18th. Jefferies Financial Group reiterated a “hold” rating and set a $105.00 target price on shares of American Express in a research report on Monday, July 16th. Buckingham Research upgraded shares of American Express from a “neutral” rating to a “buy” rating and increased their target price for the stock from $111.00 to $112.00 in a research report on Friday, June 29th. UBS Group upgraded shares of American Express from a “hold” rating to a “buy” rating in a research report on Friday, July 20th. Finally, Royal Bank of Canada reiterated a “sell” rating and set a $87.00 target price on shares of American Express in a research report on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $108.83.

NYSE:AXP traded up $0.21 during trading hours on Monday, hitting $103.24. The company had a trading volume of 6,302 shares, compared to its average volume of 3,687,192. The stock has a market cap of $87.47 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 1.36 and a beta of 1.15. American Express has a 52 week low of $84.02 and a 52 week high of $104.24. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 2.67.

American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, July 18th. The payment services company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.01. The business had revenue of $10 billion for the quarter, compared to analysts’ expectations of $10.05 billion. American Express had a net margin of 9.23% and a return on equity of 30.08%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.47 earnings per share. analysts expect that American Express will post 7.27 EPS for the current fiscal year.

American Express announced that its Board of Directors has approved a share buyback plan on Thursday, June 28th that allows the company to buyback $3.40 billion in outstanding shares. This buyback authorization allows the payment services company to reacquire up to 4.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

American Express Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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