Neuberger Berman Group LLC Sells 403,417 Shares of American Express Company (NYSE:AXP)

Neuberger Berman Group LLC cut its stake in shares of American Express Company (NYSE:AXP) by 16.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,981,425 shares of the payment services company’s stock after selling 403,417 shares during the period. Neuberger Berman Group LLC’s holdings in American Express were worth $156,751,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of AXP. Vaughan David Investments Inc. IL boosted its position in American Express by 1.2% in the first quarter. Vaughan David Investments Inc. IL now owns 262,228 shares of the payment services company’s stock valued at $20,745,000 after buying an additional 2,990 shares in the last quarter. Thomas White International Ltd. bought a new stake in shares of American Express during the first quarter valued at approximately $765,000. Cibc World Markets Corp raised its stake in shares of American Express by 47.4% in the first quarter. Cibc World Markets Corp now owns 294,275 shares of the payment services company’s stock valued at $23,280,000 after buying an additional 94,641 shares during the last quarter. Bancorpsouth Inc. raised its stake in shares of American Express by 0.4% in the first quarter. Bancorpsouth Inc. now owns 30,003 shares of the payment services company’s stock valued at $2,373,000 after buying an additional 114 shares during the last quarter. Finally, ProVise Management Group LLC raised its stake in shares of American Express by 2.2% in the first quarter. ProVise Management Group LLC now owns 73,332 shares of the payment services company’s stock valued at $5,801,000 after buying an additional 1,552 shares during the last quarter. Hedge funds and other institutional investors own 83.86% of the company’s stock.

American Express Company (NYSE AXP) traded down 0.82% during mid-day trading on Friday, reaching $85.38. The company had a trading volume of 4,271,186 shares. The stock’s 50-day moving average is $85.23 and its 200 day moving average is $80.55. American Express Company has a 12 month low of $59.50 and a 12 month high of $87.78. The firm has a market capitalization of $75.47 billion, a P/E ratio of 17.51 and a beta of 1.18.

American Express (NYSE:AXP) last announced its earnings results on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.44 by $0.03. American Express had a return on equity of 21.90% and a net margin of 14.11%. The business had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.20 billion. During the same period in the prior year, the business posted $2.10 earnings per share. American Express’s revenue was up .9% compared to the same quarter last year. On average, 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 approved a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $4.40 billion in outstanding shares. This buyback authorization authorizes the payment services company to buy up to 5.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

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Several equities research analysts recently commented on AXP shares. Jefferies Group LLC reissued a “hold” rating and issued a $75.00 price target on shares of American Express in a report on Saturday, April 22nd. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $83.00 target price (up previously from $82.00) on shares of American Express in a report on Saturday, April 22nd. DA Davidson reaffirmed a “neutral” rating and set a $85.00 target price (up previously from $84.00) on shares of American Express in a report on Saturday, April 22nd. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $93.00 target price (down previously from $97.00) on shares of American Express in a report on Friday, April 21st. Finally, CIBC dropped their target price on shares of American Express from $97.00 to $93.00 and set an “outperform” rating for the company in a report on Monday, April 24th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have given a buy rating to the stock. American Express presently has an average rating of “Hold” and an average target price of $84.77.

In other news, insider Paul D. Fabara sold 5,981 shares of the stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $85.88, for a total transaction of $513,648.28. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Marc D. Gordon sold 4,900 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $76.98, for a total value of $377,202.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 948,287 shares of company stock valued at $80,321,961. 0.67% of the stock is currently 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).

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

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