KBC Group NV boosted its stake in shares of American Express Company (NYSE:AXP) by 29.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,263 shares of the payment services company’s stock after buying an additional 76,106 shares during the period. KBC Group NV’s holdings in American Express were worth $26,443,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of AXP. MCF Advisors LLC increased 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 valued at $101,000 after buying an additional 6 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in shares of American Express by 0.4% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,641 shares of the payment services company’s stock valued at $209,000 after buying an additional 10 shares in the last quarter. Wagner Bowman Management Corp increased its stake in shares of American Express by 0.3% in the first quarter. Wagner Bowman Management Corp now owns 7,775 shares of the payment services company’s stock valued at $615,000 after buying an additional 22 shares in the last quarter. Financial Architects Inc increased its stake in shares of American Express by 2.0% in the first quarter. Financial Architects Inc now owns 2,551 shares of the payment services company’s stock valued at $202,000 after buying an additional 50 shares in the last quarter. Finally, Berkshire Asset Management LLC PA increased its stake in shares of American Express by 0.5% in the first quarter. Berkshire Asset Management LLC PA now owns 10,824 shares of the payment services company’s stock valued at $856,000 after buying an additional 53 shares in the last quarter. 83.81% of the stock is owned by institutional investors and hedge funds.
American Express Company (NYSE AXP) opened at 84.29 on Friday. The firm has a market capitalization of $74.51 billion, a price-to-earnings ratio of 17.29 and a beta of 1.18. 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 price is $84.79 and its 200 day moving average price is $80.22.
American Express (NYSE:AXP) last released its earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.03. The business had revenue of $8.31 billion for the quarter, compared to the consensus estimate of $8.20 billion. American Express had a return on equity of 21.90% and a net margin of 14.11%. American Express’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.10 earnings per share. Equities research analysts predict that American Express Company will post $5.74 earnings per share for the current year.
American Express declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that allows the company to buyback $4.40 billion in outstanding shares. This buyback authorization allows the payment services company to reacquire 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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A number of research firms have commented on AXP. Nomura raised American Express from a “reduce” rating to a “neutral” rating and raised their target price for the company from $63.00 to $78.00 in a report on Thursday, April 27th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $93.00 target price (down previously from $97.00) on shares of American Express in a report on Friday, April 21st. BidaskClub raised American Express from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. BMO Capital Markets reissued a “hold” rating and issued a $84.00 target price on shares of American Express in a report on Thursday, June 1st. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $80.00 price target on shares of American Express in a research report on Sunday, May 21st. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $84.77.
In other American Express news, insider Anre D. Williams sold 53,111 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $85.24, for a total transaction of $4,527,181.64. Following the transaction, the insider now owns 79,614 shares of the company’s stock, valued at $6,786,297.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Stephen J. Squeri sold 94,792 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $85.41, for a total value of $8,096,184.72. Following the transaction, the insider now directly owns 261,665 shares in the company, valued at approximately $22,348,807.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 948,287 shares of company stock worth $80,321,961. 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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