Leisure Capital Management Decreases Position in American Express Company (NYSE:AXP)

Leisure Capital Management reduced its stake in shares of American Express Company (NYSE:AXP) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,310 shares of the payment services company’s stock after selling 1,157 shares during the period. Leisure Capital Management’s holdings in American Express were worth $1,686,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of AXP. First Eagle Investment Management LLC increased its position in 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 valued at $1,284,689,000 after buying an additional 305,651 shares during the last quarter. Fisher Asset Management LLC increased its position in American Express by 2.3% in the first quarter. Fisher Asset Management LLC now owns 10,879,001 shares of the payment services company’s stock valued at $860,638,000 after buying an additional 248,731 shares during the last quarter. Bank of New York Mellon Corp increased its position in American Express by 9.4% in the first quarter. Bank of New York Mellon Corp now owns 10,274,363 shares of the payment services company’s stock valued at $812,804,000 after buying an additional 879,569 shares during the last quarter. American Century Companies Inc. increased its position in American Express by 13.3% in the first quarter. American Century Companies Inc. now owns 4,175,263 shares of the payment services company’s stock valued at $330,305,000 after buying an additional 489,407 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in American Express by 9.0% in the first quarter. UBS Asset Management Americas Inc. now owns 3,406,082 shares of the payment services company’s stock valued at $269,455,000 after buying an additional 281,950 shares during the last quarter. 82.76% of the stock is currently owned by institutional investors.

American Express Company (AXP) opened at 84.80 on Friday. American Express Company has a 52 week low of $59.50 and a 52 week high of $86.28. The company has a market capitalization of $75.05 billion, a PE ratio of 17.39 and a beta of 1.18. The stock has a 50 day moving average price of $83.63 and a 200-day moving average price of $79.62.

American Express (NYSE:AXP) last announced its earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the business earned $2.10 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts predict that American Express Company will post $5.74 earnings per share for the current fiscal year.

American Express declared that its Board of Directors has initiated a stock 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 purchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Friday, July 7th will be given a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.28 annualized dividend and a yield of 1.51%. American Express’s dividend payout ratio (DPR) is presently 26.18%.

Several equities analysts have recently commented on AXP shares. Jefferies Group LLC reaffirmed 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 reaffirmed 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 raised American Express from a “neutral” rating to a “buy” rating and upped their target price for the company from $81.05 to $90.00 in a research report on Tuesday, April 25th. Credit Suisse Group reaffirmed a “sell” rating and issued a $76.00 target price on shares of American Express in a research report on Friday, April 7th. Finally, Nomura raised American Express from a “reduce” rating to a “neutral” rating and upped their target price for the company from $63.00 to $78.00 in a research report on Thursday, April 27th. Four investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have given a buy rating to the company. American Express presently has a consensus rating of “Hold” and an average price target of $84.77.

In related news, insider Paul D. Fabara sold 5,981 shares of the company’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marc D. Gordon sold 4,900 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $76.98, for a total transaction of $377,202.00. The disclosure for this sale can be found here. Insiders sold 895,176 shares of company stock valued at $75,794,779 over the last quarter. 0.67% of the stock is owned by company 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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