Avanza Fonder AB Boosts Stake in American Express (NYSE:AXP)

Avanza Fonder AB grew its position in shares of American Express (NYSE:AXP) by 3.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 42,055 shares of the payment services company’s stock after acquiring an additional 1,344 shares during the period. Avanza Fonder AB’s holdings in American Express were worth $11,576,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital & Planning LLC bought a new stake in American Express in the 4th quarter worth about $213,000. Brighton Jones LLC raised its holdings in American Express by 24.4% in the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after purchasing an additional 1,273 shares during the period. Empowered Funds LLC raised its holdings in American Express by 157.3% in the 4th quarter. Empowered Funds LLC now owns 36,765 shares of the payment services company’s stock worth $10,911,000 after purchasing an additional 22,474 shares during the period. Wealthstar Advisors LLC bought a new position in American Express in the 4th quarter worth $309,000. Finally, Angeles Wealth Management LLC increased its stake in American Express by 5.4% in the 4th quarter. Angeles Wealth Management LLC now owns 2,040 shares of the payment services company’s stock worth $605,000 after buying an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Performance

American Express stock opened at $301.61 on Tuesday. The company has a 50 day moving average price of $274.12 and a 200-day moving average price of $289.07. 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 has a fifty-two week low of $220.43 and a fifty-two week high of $326.28. The company has a market capitalization of $211.30 billion, a PE ratio of 21.53, a P/E/G ratio of 1.41 and a beta of 1.25.

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, beating the consensus estimate of $3.47 by $0.17. The firm had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. American Express had a net margin of 15.36% and a return on equity of 32.65%. During the same quarter in the previous year, the firm posted $3.33 earnings per share. As a group, equities analysts forecast that American Express will post 15.33 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Howard Grosfield sold 9,450 shares of the business’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 of the company’s stock, valued at $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction 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 transaction, the insider now directly owns 10,919 shares in the company, valued at $2,889,822.54. This represents a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AXP. Argus lowered American Express from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 14th. Citigroup dropped their price target on American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Robert W. Baird upgraded American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price target for the company in a research report on Friday, March 14th. The Goldman Sachs Group dropped their price target on American Express from $367.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Finally, BTIG Research dropped their price target on American Express from $272.00 to $240.00 and set a “sell” rating for the company in a research report on Monday, April 21st. One research 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $296.05.

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.