Troy Asset Management Ltd Has $113,193,000 Position in American Express Company (AXP)
Troy Asset Management Ltd maintained its stake in American Express Company (NYSE:AXP) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,531,290 shares of the payment services company’s stock at the end of the first quarter. American Express comprises approximately 5.6% of Troy Asset Management Ltd’s investment portfolio, making the stock its 7th largest position. Troy Asset Management Ltd’s holdings in American Express were worth $113,193,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. MCF Advisors LLC raised its stake in 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 buying an additional 6 shares during the last quarter. SpiderRock Advisors LLC acquired a new stake in American Express during the first quarter valued at approximately $112,000. SRS Capital Advisors Inc. raised its stake in 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 buying an additional 138 shares during the last quarter. Westside Investment Management Inc. raised its stake in 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 buying an additional 410 shares during the last quarter. Finally, Clean Yield Group acquired a new stake in American Express during the first quarter valued at approximately $175,000. 82.78% of the stock is currently owned by institutional investors.
Shares of American Express Company (NYSE:AXP) traded up 0.04% during mid-day trading on Wednesday, reaching $85.45. 680,032 shares of the company traded hands. The company has a market capitalization of $75.54 billion, a P/E ratio of 17.52 and a beta of 1.18. American Express Company has a 52 week low of $59.50 and a 52 week high of $87.78. The stock’s 50-day moving average is $85.32 and its 200-day moving average is $80.84.
American Express (NYSE:AXP) last posted its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 EPS 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 company had revenue of $8.31 billion during the quarter, compared to analyst estimates of $8.20 billion. During the same period in the prior year, the firm earned $2.10 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts predict that American Express Company will post $5.74 EPS for the current fiscal year.
American Express announced that its board has initiated a share repurchase program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have commented on the stock. BidaskClub raised shares of American Express from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Tuesday. Instinet reiterated an “underperform” rating and issued a $80.00 price objective on shares of American Express in a research report on Thursday, June 29th. Barclays PLC reiterated a “buy” rating and issued a $83.00 price objective on shares of American Express in a research report on Thursday, July 20th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $84.00 price objective on shares of American Express in a research report on Thursday, June 1st. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have issued a buy rating to the company. American Express currently has an average rating of “Hold” and a consensus price target of $85.20.
In other American Express news, CEO Kenneth I. Chenault sold 789,503 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $84.62, for a total transaction of $66,807,743.86. Following the completion of the sale, the chief executive officer now directly owns 889,836 shares of the company’s stock, valued at $75,297,922.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 5,981 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $85.88, for a total transaction of $513,648.28. The disclosure for this sale can be found here. Insiders have sold 943,387 shares of company stock valued at $79,944,759 over the last ninety days. Insiders own 0.67% of the company’s stock.
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).
Receive News & Ratings for American Express Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express Company and related companies with Analyst Ratings Network's FREE daily email newsletter.