Fiduciary Alliance LLC Sells 62 Shares of American Express (NYSE:AXP)

Fiduciary Alliance LLC cut its holdings in American Express (NYSE:AXP) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,376 shares of the payment services company’s stock after selling 62 shares during the period. Fiduciary Alliance LLC’s holdings in American Express were worth $3,599,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in shares of American Express during the 4th quarter valued at $1,785,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in American Express by 463.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company’s stock valued at $1,293,259,000 after buying an additional 3,583,959 shares in the last quarter. GAMMA Investing LLC grew its holdings in American Express by 27,625.2% during the 1st quarter. GAMMA Investing LLC now owns 2,162,846 shares of the payment services company’s stock valued at $581,914,000 after buying an additional 2,155,045 shares in the last quarter. Capital Research Global Investors increased its position in shares of American Express by 186.3% during the fourth quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company’s stock valued at $886,426,000 after buying an additional 1,943,463 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of American Express by 346.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company’s stock worth $600,072,000 after buying an additional 1,568,747 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on AXP. Bank of America raised shares of American Express from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $325.00 to $274.00 in a research note on Friday, April 11th. Argus downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. Truist Financial upped their price target on shares of American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. JPMorgan Chase & Co. lifted their price objective on American Express from $244.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, April 21st. Finally, Monness Crespi & Hardt boosted their target price on American Express from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $296.05.

American Express Trading Down 0.5%

Shares of AXP opened at $294.04 on Monday. American Express has a fifty-two week low of $220.43 and a fifty-two week high of $326.28. The firm has a market cap of $206.00 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 1.41 and a beta of 1.23. The firm has a 50 day moving average price of $270.91 and a 200-day moving average price of $288.73. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The business had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. During the same period in the previous year, the firm posted $3.33 earnings per share. As a group, equities research analysts forecast that American Express will post 15.33 earnings per share for the current year.

Insider Activity

In other American Express news, insider Howard Grosfield sold 9,450 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the sale, the insider now owns 9,402 shares in the company, valued at approximately $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Angelakis bought 3,700 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now directly owns 3,700 shares of the company’s stock, valued at approximately $998,593. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by corporate insiders.

American Express Company Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.