Contravisory Investment Management Inc. Acquires 1,590 Shares of American Express (NYSE:AXP)

Contravisory Investment Management Inc. lifted its holdings in shares of American Express (NYSE:AXP) by 5.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 31,550 shares of the payment services company’s stock after purchasing an additional 1,590 shares during the period. American Express comprises about 1.8% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 22nd biggest position. Contravisory Investment Management Inc.’s holdings in American Express were worth $8,489,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new stake in American Express during the 4th quarter valued at $29,000. Sellwood Investment Partners LLC purchased a new position in American Express during the 4th quarter valued at about $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in American Express in the 4th quarter worth approximately $33,000. Curio Wealth LLC bought a new stake in shares of American Express in the 4th quarter worth approximately $37,000. Finally, Nexus Investment Management ULC purchased a new position in shares of American Express during the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insiders Place Their Bets

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the completion of the sale, the insider now directly owns 10,919 shares in the company, valued at approximately $2,889,822.54. The trade was a 21.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the transaction, the insider now owns 9,402 shares in the company, valued at approximately $2,590,251. This trade represents a 50.13% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AXP has been the topic of several recent analyst reports. BTIG Research cut their price target on shares of American Express from $272.00 to $240.00 and set a “sell” rating on the stock in a report on Monday, April 21st. Redburn Atlantic raised American Express from a “sell” rating to a “neutral” rating and cut their price objective for the company from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Baird R W raised American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Truist Financial raised their price objective on American Express from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. Finally, The Goldman Sachs Group dropped their target price on shares of American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $296.05.

American Express Price Performance

Shares of AXP opened at $297.61 on Wednesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The company has a 50 day moving average price of $271.80 and a 200-day moving average price of $288.85. American Express has a fifty-two week low of $220.43 and a fifty-two week high of $326.28. The stock has a market capitalization of $208.50 billion, a PE ratio of 21.24, a PEG ratio of 1.41 and a beta of 1.25.

American Express (NYSE:AXP) last issued its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The firm had revenue of $16.97 billion for the quarter, compared to the consensus estimate of $17.04 billion. During the same quarter in the previous year, the firm earned $3.33 EPS. Equities analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

American Express 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.