Transamerica Financial Advisors Inc. Has $6.72 Million Stake in American Express Company (NYSE:AXP)

Transamerica Financial Advisors Inc. cut its position in shares of American Express Company (NYSE:AXP) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,994 shares of the payment services company’s stock after selling 386 shares during the period. Transamerica Financial Advisors Inc.’s holdings in American Express were worth $6,724,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. MCF Advisors LLC increased 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 worth $101,000 after buying an additional 6 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in 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 worth $209,000 after buying an additional 10 shares during the last quarter. Wagner Bowman Management Corp increased its stake in 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 worth $615,000 after buying an additional 22 shares during the last quarter. Financial Architects Inc increased its stake in American Express by 2.0% in the first quarter. Financial Architects Inc now owns 2,551 shares of the payment services company’s stock worth $202,000 after buying an additional 50 shares during the last quarter. Finally, Berkshire Asset Management LLC PA increased its stake in 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 worth $856,000 after buying an additional 53 shares during the last quarter. Institutional investors and hedge funds own 83.86% of the company’s stock.

Shares of American Express Company (NYSE:AXP) traded down 0.82% on Friday, reaching $85.38. 4,271,186 shares of the company’s stock traded hands. The firm’s 50-day moving average is $85.23 and its 200-day moving average is $80.55. American Express Company has a 52-week low of $59.50 and a 52-week high of $87.78. The stock has a market cap of $75.47 billion, a price-to-earnings ratio of 17.51 and a beta of 1.18.

American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.03. The firm had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.20 billion. American Express had a net margin of 14.11% and a return on equity of 21.90%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.10 earnings per share. Analysts anticipate that American Express Company will post $5.74 EPS for the current fiscal year.

American Express declared that its board has approved a stock buyback plan on Wednesday, June 28th that allows the company to buyback $4.40 billion in shares. This buyback authorization allows the payment services company to reacquire up to 5.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

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A number of brokerages have commented on AXP. Nomura raised shares of American Express from a “reduce” rating to a “neutral” rating and upped their price target for the company from $63.00 to $78.00 in a research report on Thursday, April 27th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $93.00 price target (down previously from $97.00) on shares of American Express in a research report on Friday, April 21st. BidaskClub raised shares of American Express from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. BMO Capital Markets reaffirmed a “hold” rating and set a $84.00 price target on shares of American Express in a research report on Thursday, June 1st. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and set 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 issued a hold rating and thirteen have issued a buy rating to the company’s stock. American Express presently has an average rating of “Hold” and an average target price of $84.77.

In related news, EVP Marc D. Gordon sold 4,900 shares of the firm’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $76.98, for a total transaction of $377,202.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Stephen J. Squeri sold 94,792 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $85.41, for a total transaction of $8,096,184.72. Following the transaction, the insider now directly owns 261,665 shares of the company’s stock, valued at $22,348,807.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 948,287 shares of company stock valued at $80,321,961. Corporate insiders own 0.67% of the company’s stock.

About American Express

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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