Douglass Winthrop Advisors LLC decreased its position in shares of American Express Co. (NYSE:AXP) by 11.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 377,333 shares of the payment services company’s stock after selling 50,100 shares during the period. American Express accounts for approximately 2.2% of Douglass Winthrop Advisors LLC’s portfolio, making the stock its 12th largest position. Douglass Winthrop Advisors LLC’s holdings in American Express were worth $27,972,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new position in American Express during the first quarter worth $133,000. Kistler Tiffany Companies LLC increased its position in American Express by 13.6% in the second quarter. Kistler Tiffany Companies LLC now owns 2,625 shares of the payment services company’s stock worth $159,000 after buying an additional 315 shares in the last quarter. Balentine LLC increased its position in American Express by 20.2% in the first quarter. Balentine LLC now owns 3,270 shares of the payment services company’s stock worth $201,000 after buying an additional 550 shares in the last quarter. Marquette Asset Management Inc. acquired a new position in American Express during the second quarter worth $209,000. Finally, Champlain Investment Partners LLC acquired a new position in American Express during the first quarter worth $215,000.
Shares of American Express Co. (NYSE:AXP) traded down 0.15% on Friday, reaching $65.53. 2,783,160 shares of the company were exchanged. The company’s 50-day moving average price is $63.85 and its 200 day moving average price is $61.61. The company has a market cap of $60.54 billion and a price-to-earnings ratio of 11.59. American Express Co. has a 12 month low of $50.27 and a 12 month high of $78.40.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, July 20th. The payment services company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.15. The firm had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.33 billion. During the same quarter in the previous year, the company earned $1.42 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, equities research analysts expect that American Express Co. will post $5.50 EPS for the current year.
A number of research firms have recently weighed in on AXP. Credit Suisse Group AG restated a “sell” rating and set a $62.00 price target on shares of American Express in a report on Thursday, July 14th. Vetr downgraded shares of American Express from a “strong-buy” rating to a “buy” rating and set a $67.47 price target on the stock. in a report on Monday, July 11th. BMO Capital Markets began coverage on shares of American Express in a report on Thursday, July 21st. They set a “hold” rating and a $73.00 price target on the stock. DA Davidson restated a “neutral” rating and set a $66.00 price target on shares of American Express in a report on Friday, July 8th. Finally, Zacks Investment Research downgraded shares of American Express from a “hold” rating to a “sell” rating in a report on Wednesday, July 20th. Six investment analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $70.40.
In other news, EVP Michael John O’neill sold 51,690 shares of the stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $64.95, for a total value of $3,357,265.50. Following the completion of the transaction, the executive vice president now owns 46,929 shares of the company’s stock, valued at $3,048,038.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Susan Sobbott sold 14,682 shares of the stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $65.50, for a total transaction of $961,671.00. Following the completion of the transaction, the insider now directly owns 51,552 shares of the company’s stock, valued at approximately $3,376,656. The disclosure for this sale can be found here.
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).