American Express (NYSE:AXP) Shares Sold by Exchange Bank

Exchange Bank reduced its stake in American Express (NYSE:AXP) by 2.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,989 shares of the payment services company’s stock after selling 87 shares during the quarter. Exchange Bank’s holdings in American Express were worth $804,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in shares of American Express by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 11,752,084 shares of the payment services company’s stock worth $3,484,312,000 after acquiring an additional 268,572 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in American Express by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company’s stock worth $2,600,277,000 after buying an additional 95,927 shares in the last quarter. Northern Trust Corp lifted its holdings in American Express by 16.3% during the 4th quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company’s stock worth $2,025,632,000 after buying an additional 955,811 shares in the last quarter. Norges Bank acquired a new stake in American Express during the 4th quarter worth approximately $1,785,867,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in American Express by 8.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,015,269 shares of the payment services company’s stock worth $1,488,482,000 after buying an additional 408,283 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Trading Down 0.1%

NYSE AXP opened at $299.25 on Thursday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The firm’s fifty day moving average price is $276.48 and its 200 day moving average price is $289.22. The company has a market capitalization of $209.65 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. American Express has a 12 month low of $220.43 and a 12 month high of $326.28.

American Express (NYSE:AXP) last posted its earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating analysts’ consensus estimates of $3.47 by $0.17. The firm had revenue of $16.97 billion for 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 period last year, the firm posted $3.33 EPS. On average, sell-side analysts expect that American Express will post 15.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AXP has been the topic of a number of research reports. Robert W. Baird upgraded shares of American Express from an “underperform” rating to a “neutral” rating and set a $265.00 target price on the stock in a report on Friday, March 14th. Bank of America upgraded shares of American Express from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $325.00 to $274.00 in a report on Friday, April 11th. Citigroup reduced their target price on shares of American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Truist Financial increased their target price 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. Finally, Monness Crespi & Hardt increased their target price on shares of American Express from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus price target of $296.05.

Insider Activity at American Express

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total transaction 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 represents a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

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.