American Express Co (AXP) Shareholder Veritas Asset Management Llp Cut Position as Shares Declined

May 16, 2018 - By Lisa Tanner

American Express Company (NYSE:AXP) LogoInvestors sentiment increased to 0.89 in Q4 2017. Its up 0.06, from 0.83 in 2017Q3. It improved, as 42 investors sold AXP shares while 442 reduced holdings. 122 funds opened positions while 311 raised stakes. 701.90 million shares or 1.01% less from 709.03 million shares in 2017Q3 were reported. Natl Asset holds 0.05% or 3,389 shares in its portfolio. Brown Brothers Harriman & invested in 39,049 shares or 0.02% of the stock. Baillie Gifford Company accumulated 770,323 shares. Farmers Merchants Invests reported 0% stake. Baxter Bros invested 0.16% of its portfolio in American Express Company (NYSE:AXP). Nuveen Asset Ltd Liability Com has invested 0.14% in American Express Company (NYSE:AXP). Patten Patten Incorporated Tn owns 8,445 shares for 0.08% of their portfolio. Alps Advsr holds 0% or 4,881 shares in its portfolio. Family Cap Trust Com holds 2.51% or 53,807 shares. Rand Wealth has invested 0.35% in American Express Company (NYSE:AXP). Auxier Asset holds 0.15% or 7,843 shares. Da Davidson Co has 25,686 shares. Sigma Planning reported 12,891 shares stake. Pacifica Invests Ltd Co stated it has 18,438 shares or 0.9% of all its holdings. Sol Cap invested in 0.43% or 15,325 shares.

Since December 11, 2017, it had 0 insider purchases, and 9 insider sales for $37.90 million activity. Cox L Kevin had sold 50,412 shares worth $5.07M. Shares for $1.23 million were sold by Squeri Stephen J on Tuesday, May 1. CAMPBELL JEFFREY C had sold 9,000 shares worth $882,406 on Tuesday, May 1. $8.79M worth of American Express Company (NYSE:AXP) was sold by Buckminster Douglas E. on Monday, December 11. Bush James Peter sold $1.32 million worth of stock or 13,356 shares. On Tuesday, December 12 Gupta Ashwini sold $5.63M worth of American Express Company (NYSE:AXP) or 56,680 shares.

Veritas Asset Management Llp decreased its stake in American Express Co (AXP) by 0.32% based on its latest 2017Q4 regulatory filing with the SEC. Veritas Asset Management Llp sold 35,000 shares as the company’s stock declined 7.41% with the market. The institutional investor held 11.00 million shares of the consumer services company at the end of 2017Q4, valued at $1.09 billion, down from 11.04 million at the end of the previous reported quarter. Veritas Asset Management Llp who had been investing in American Express Co for a number of months, seems to be less bullish one the $86.98 billion market cap company. The stock increased 0.35% or $0.3522 during the last trading session, reaching $101.0922. About 345,361 shares traded. American Express Company (NYSE:AXP) has risen 17.81% since May 16, 2017 and is uptrending. It has outperformed by 6.26% the S&P500.

Veritas Asset Management Llp, which manages about $12.87B US Long portfolio, upped its stake in Comcast Corp New (NASDAQ:CMCSA) by 1.29M shares to 34.48 million shares, valued at $1.38 billion in 2017Q4, according to the filing. It also increased its holding in Thermo Fisher Scientific Inc (NYSE:TMO) by 23,900 shares in the quarter, for a total of 3.53 million shares, and has risen its stake in Charter Communications Inc.

Analysts await American Express Company (NYSE:AXP) to report earnings on July, 18. They expect $1.82 earnings per share, up 23.81 % or $0.35 from last year’s $1.47 per share. AXP’s profit will be $1.57B for 13.89 P/E if the $1.82 EPS becomes a reality. After $1.86 actual earnings per share reported by American Express Company for the previous quarter, Wall Street now forecasts -2.15 % negative EPS growth.

More notable recent American Express Company (NYSE:AXP) news were published by: Seekingalpha.com which released: “American Express Is Firing On All Cylinders” on April 19, 2018, also Livetradingnews.com with their article: “American Express Company (NYSE:AXP) Heffx Technical Review” published on April 30, 2018, Streetinsider.com published: “Buffett’s Berkshire 13F Confirms Increase in Apple (AAPL) Stake Along with Increase in Holdings of Teva (TEVA) (More…)” on May 15, 2018. More interesting news about American Express Company (NYSE:AXP) were released by: Nasdaq.com and their article: “3 Dividend Stocks to Fund Your Nest Egg” published on May 16, 2018 as well as Seekingalpha.com‘s news article titled: “How Far Could American Express Fall?” with publication date: May 02, 2018.

American Express Company (NYSE:AXP) Ratings Coverage

Among 23 analysts covering American Express (NYSE:AXP), 11 have Buy rating, 2 Sell and 10 Hold. Therefore 48% are positive. American Express had 38 analyst reports since December 5, 2017 according to SRatingsIntel. UBS initiated it with “Buy” rating and $11100 target in Tuesday, March 27 report. The stock of American Express Company (NYSE:AXP) earned “Buy” rating by Wells Fargo on Friday, January 19. The stock of American Express Company (NYSE:AXP) earned “Sell” rating by Credit Suisse on Tuesday, December 5. The rating was maintained by Keefe Bruyette & Woods with “Buy” on Thursday, January 18. Piper Jaffray maintained American Express Company (NYSE:AXP) on Wednesday, April 18 with “Hold” rating. Susquehanna maintained the shares of AXP in report on Thursday, December 28 with “Buy” rating. The stock of American Express Company (NYSE:AXP) earned “Buy” rating by Wells Fargo on Tuesday, January 9. The rating was maintained by Bernstein with “Buy” on Thursday, April 19. Oppenheimer maintained the stock with “Buy” rating in Tuesday, February 20 report. Jefferies maintained American Express Company (NYSE:AXP) on Wednesday, April 11 with “Hold” rating.

American Express Company (NYSE:AXP) Institutional Positions Chart

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