SOL Capital Management CO Sells 981 Shares of American Express (NYSE:AXP)

SOL Capital Management CO decreased its position in American Express (NYSE:AXP) by 6.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,864 shares of the payment services company’s stock after selling 981 shares during the period. SOL Capital Management CO’s holdings in American Express were worth $1,711,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Foster & Motley Inc. lifted its position in American Express by 38.8% during the second quarter. Foster & Motley Inc. now owns 3,652 shares of the payment services company’s stock valued at $451,000 after buying an additional 1,020 shares during the period. Waverton Investment Management Ltd lifted its position in American Express by 215.1% during the second quarter. Waverton Investment Management Ltd now owns 66,292 shares of the payment services company’s stock valued at $8,183,000 after buying an additional 45,251 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its position in American Express by 16.2% during the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 30,988 shares of the payment services company’s stock valued at $3,847,000 after buying an additional 4,320 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in American Express by 2.6% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 240,620 shares of the payment services company’s stock valued at $29,702,000 after buying an additional 6,200 shares during the period. Finally, NEXT Financial Group Inc lifted its position in American Express by 80.7% during the second quarter. NEXT Financial Group Inc now owns 3,050 shares of the payment services company’s stock valued at $376,000 after buying an additional 1,362 shares during the period. Hedge funds and other institutional investors own 83.62% of the company’s stock.

In related news, Chairman Stephen J. Squeri sold 15,000 shares of American Express stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $114.69, for a total value of $1,720,350.00. Following the completion of the sale, the chairman now directly owns 214,815 shares in the company, valued at approximately $24,637,132.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Stephen J. Squeri sold 101,964 shares of American Express stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $119.95, for a total value of $12,230,581.80. Following the completion of the sale, the chairman now owns 258,948 shares of the company’s stock, valued at $31,060,812.60. The disclosure for this sale can be found here. Insiders sold a total of 183,503 shares of company stock valued at $22,030,331 over the last quarter. 0.21% of the stock is owned by corporate insiders.

Several brokerages have commented on AXP. JPMorgan Chase & Co. lowered their price objective on Schlumberger from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday. Morgan Stanley set a $226.00 price objective on S&P Global and gave the company a “hold” rating in a research report on Friday, May 3rd. BMO Capital Markets lowered their price objective on West Fraser Timber from C$78.00 to C$74.00 in a research report on Monday. Wells Fargo & Co raised their price objective on Apollo Global Management from $38.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. Finally, Deutsche Bank reissued a “buy” rating and set a $80.00 price objective on shares of Bayerische Motoren Werke in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $124.38.

Shares of AXP traded down $0.67 during trading hours on Friday, hitting $126.48. The company had a trading volume of 1,825,617 shares, compared to its average volume of 3,273,391. The company’s fifty day moving average is $124.70. The company has a quick ratio of 1.88, a current ratio of 1.84 and a debt-to-equity ratio of 2.50. The stock has a market capitalization of $105.10 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.44 and a beta of 1.07. American Express has a 52-week low of $89.05 and a 52-week high of $129.34.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.02. The firm had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.82 billion. American Express had a return on equity of 29.75% and a net margin of 16.60%. American Express’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 EPS. On average, sell-side analysts predict that American Express will post 8.14 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.56 annualized dividend and a yield of 1.23%. American Express’s payout ratio is 21.28%.

American Express Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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

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