Hyman Charles D Lowers Position in American Express Company (AXP)

Hyman Charles D cut its position in shares of American Express Company (NYSE:AXP) by 1.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,996 shares of the payment services company’s stock after selling 125 shares during the period. Hyman Charles D’s holdings in American Express were worth $791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AXP. Union Bankshares Corp boosted its position in shares of American Express by 1.5% in the first quarter. Union Bankshares Corp now owns 51,703 shares of the payment services company’s stock worth $4,090,000 after buying an additional 753 shares during the period. Gulf International Bank UK Ltd boosted its position in American Express by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 241,916 shares of the payment services company’s stock valued at $19,137,000 after buying an additional 3,100 shares during the period. Chesley Taft & Associates LLC boosted its position in American Express by 1.7% in the first quarter. Chesley Taft & Associates LLC now owns 96,893 shares of the payment services company’s stock valued at $7,665,000 after buying an additional 1,590 shares during the period. Sheets Smith Wealth Management boosted its position in American Express by 2.7% in the first quarter. Sheets Smith Wealth Management now owns 6,461 shares of the payment services company’s stock valued at $511,000 after buying an additional 167 shares during the period. Finally, Raymond James Trust N.A. boosted its position in American Express by 1.4% in the first quarter. Raymond James Trust N.A. now owns 53,690 shares of the payment services company’s stock valued at $4,248,000 after buying an additional 745 shares during the period. Hedge funds and other institutional investors own 83.86% of the company’s stock.

American Express Company (NYSE AXP) traded up 0.69% during trading on Wednesday, hitting $87.39. 3,332,831 shares of the stock were exchanged. American Express Company has a one year low of $59.50 and a one year high of $87.78. The company has a market cap of $77.25 billion, a price-to-earnings ratio of 17.92 and a beta of 1.18. The stock’s 50 day moving average is $84.99 and its 200-day moving average is $80.40.

American Express (NYSE:AXP) last issued its quarterly earnings data 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 business had revenue of $8.31 billion for the quarter, compared to analysts’ expectations of $8.20 billion. During the same period in the previous year, the business earned $2.10 earnings per share. The company’s revenue was up .9% on a year-over-year basis. On average, equities research analysts expect that American Express Company will post $5.74 earnings per share for the current fiscal year.

American Express declared that its board has initiated a share repurchase program on Wednesday, June 28th that permits the company to buyback $4.40 billion in outstanding shares. This buyback authorization permits the payment services company to repurchase up to 5.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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Several research analysts have commented on AXP shares. Jefferies Group LLC reiterated a “hold” rating and set a $85.00 price target on shares of American Express in a report on Saturday, July 22nd. Sanford C. Bernstein reiterated an “outperform” rating and set a $100.00 price target (up previously from $99.00) on shares of American Express in a report on Saturday, July 22nd. Guggenheim upgraded shares of American Express from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $81.05 to $90.00 in a report on Tuesday, April 25th. Credit Suisse Group reiterated a “sell” rating on shares of American Express in a report on Wednesday, July 19th. Finally, Nomura upgraded shares of American Express from a “reduce” rating to a “neutral” rating and boosted their price target for the stock from $63.00 to $78.00 in a report on Thursday, April 27th. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $84.77.

In related news, CEO Kenneth I. Chenault sold 789,503 shares of American Express 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 sale, the chief executive officer now directly owns 889,836 shares in the company, valued at $75,297,922.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Marc D. Gordon sold 4,900 shares of American Express stock in a transaction dated Wednesday, May 24th. The shares were 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. Over the last 90 days, insiders have sold 948,287 shares of company stock worth $80,321,961. Company 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).