Tesco Pension Investment Ltd Has $160.74 Million Stake in American Express (AXP)
Tesco Pension Investment Ltd reduced its holdings in American Express (NYSE:AXP) by 6.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,640,177 shares of the payment services company’s stock after selling 111,131 shares during the quarter. American Express makes up 4.2% of Tesco Pension Investment Ltd’s portfolio, making the stock its 9th biggest position. Tesco Pension Investment Ltd owned approximately 0.19% of American Express worth $160,737,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Guidant Wealth Advisors increased its stake in American Express by 280.7% during the 2nd quarter. Guidant Wealth Advisors now owns 807 shares of the payment services company’s stock valued at $150,000 after buying an additional 595 shares during the period. Destination Wealth Management increased its stake in American Express by 165.4% during the 2nd quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock valued at $104,000 after buying an additional 660 shares during the period. Archford Capital Strategies LLC acquired a new position in American Express during the 1st quarter valued at about $123,000. Private Ocean LLC increased its stake in American Express by 14,070.0% during the 1st quarter. Private Ocean LLC now owns 1,417 shares of the payment services company’s stock valued at $132,000 after buying an additional 1,407 shares during the period. Finally, Kiley Juergens Wealth Management LLC acquired a new position in shares of American Express in the 2nd quarter worth approximately $148,000. Institutional investors own 82.41% of the company’s stock.
Shares of AXP traded up $0.13 during midday trading on Friday, hitting $102.78. The stock had a trading volume of 24,742 shares, compared to its average volume of 3,698,182. American Express has a fifty-two week low of $84.02 and a fifty-two week high of $104.24. The stock has a market cap of $87.47 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 1.36 and a beta of 1.15. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.92 and a quick ratio of 1.92.
American Express announced that its board has approved a stock repurchase program on Thursday, June 28th that authorizes the company to buyback $3.40 billion in shares. This buyback authorization authorizes the payment services company to repurchase up to 4.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.
Several brokerages have recently issued reports on AXP. DZ Bank raised shares of American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. UBS Group raised shares of American Express from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Royal Bank of Canada reaffirmed a “sell” rating and issued a $87.00 price objective on shares of American Express in a research note on Thursday, July 19th. Oppenheimer set a $113.00 price objective on shares of American Express and gave the stock a “buy” rating in a research note on Wednesday, July 18th. Finally, BMO Capital Markets lifted their price objective on shares of American Express from $103.00 to $106.00 and gave the stock a “market perform” rating in a research note on Thursday, July 19th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and fourteen have given a buy rating to the company. American Express has an average rating of “Hold” and a consensus target price of $108.83.
In related news, EVP Richard Petrino sold 9,880 shares of the firm’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $102.89, for a total transaction of $1,016,553.20. Following the completion of the sale, the executive vice president now directly owns 16,198 shares in the company, valued at $1,666,612.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey C. Campbell sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $98.79, for a total transaction of $889,110.00. Following the sale, the chief financial officer now owns 70,986 shares of the company’s stock, valued at $7,012,706.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,184 shares of company stock valued at $4,426,568. Corporate insiders own 0.20% of the company’s stock.
American Express Company 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 four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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