United Services Automobile Association Trims Position in American Express (AXP)

United Services Automobile Association cut its stake in American Express (NYSE:AXP) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,118,257 shares of the payment services company’s stock after selling 18,733 shares during the period. United Services Automobile Association owned about 0.13% of American Express worth $106,591,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Convergence Investment Partners LLC increased its stake in American Express by 10.9% in the fourth quarter. Convergence Investment Partners LLC now owns 2,377 shares of the payment services company’s stock valued at $227,000 after purchasing an additional 233 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in American Express by 11.2% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 279,916 shares of the payment services company’s stock valued at $26,682,000 after purchasing an additional 28,226 shares during the period. Duality Advisers LP acquired a new position in American Express in the fourth quarter valued at $6,011,000. Commonwealth Bank of Australia increased its stake in American Express by 0.6% in the fourth quarter. Commonwealth Bank of Australia now owns 120,764 shares of the payment services company’s stock valued at $11,505,000 after purchasing an additional 764 shares during the period. Finally, Korea Investment CORP increased its stake in American Express by 6.8% in the fourth quarter. Korea Investment CORP now owns 815,737 shares of the payment services company’s stock valued at $77,756,000 after purchasing an additional 51,900 shares during the period. 82.70% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have commented on AXP. Zacks Investment Research lowered shares of American Express from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. Wells Fargo & Co reiterated a “buy” rating and set a $125.00 price target (up from $115.00) on shares of American Express in a research note on Tuesday. Buckingham Research lowered shares of American Express from a “buy” rating to a “neutral” rating and set a $112.00 price target on the stock. in a research note on Thursday, November 29th. They noted that the move was a valuation call. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Friday, December 14th. Finally, Barclays set a $118.00 price target on shares of American Express and gave the stock a “hold” rating in a research note on Friday, December 14th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $111.52.

In related news, EVP Richard Petrino sold 2,444 shares of the firm’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $107.11, for a total transaction of $261,776.84. Following the completion of the sale, the executive vice president now directly owns 7,591 shares of the company’s stock, valued at approximately $813,072.01. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $103.02, for a total transaction of $1,287,750.00. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

AXP stock traded up $1.03 during trading on Tuesday, reaching $110.59. 52,765 shares of the company were exchanged, compared to its average volume of 3,565,121. The company has a market cap of $91.07 billion, a P/E ratio of 15.06, a P/E/G ratio of 1.26 and a beta of 1.12. American Express has a 52-week low of $89.05 and a 52-week high of $114.55. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 2.62.

American Express (NYSE:AXP) last released its quarterly earnings data on Thursday, January 17th. The payment services company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.06). American Express had a return on equity of 30.35% and a net margin of 17.08%. The company had revenue of $10.47 billion for the quarter, compared to analysts’ expectations of $10.54 billion. During the same period in the prior year, the firm posted $1.58 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities research analysts expect that American Express will post 8.15 earnings per share for the current year.

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About American Express

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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