American Express (NYSE:AXP) Shares Sold by Simplicity Wealth LLC

Simplicity Wealth LLC lessened its stake in American Express (NYSE:AXP) by 37.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 970 shares of the payment services company’s stock after selling 573 shares during the period. Simplicity Wealth LLC’s holdings in American Express were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of AXP. Keybank National Association OH boosted its position in shares of American Express by 3.7% in the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock valued at $103,858,000 after purchasing an additional 12,364 shares during the period. Edge Capital Group LLC boosted its holdings in shares of American Express by 20.9% in the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock valued at $1,915,000 after acquiring an additional 1,113 shares during the period. Game Plan Financial Advisors LLC boosted its holdings in shares of American Express by 17.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 18,982 shares of the payment services company’s stock valued at $5,638,000 after acquiring an additional 2,826 shares during the period. NewEdge Wealth LLC grew its position in shares of American Express by 6.0% during the fourth quarter. NewEdge Wealth LLC now owns 26,102 shares of the payment services company’s stock worth $7,747,000 after acquiring an additional 1,471 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of American Express by 11.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 50,009 shares of the payment services company’s stock valued at $14,842,000 after acquiring an additional 4,959 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

NYSE:AXP opened at $297.90 on Friday. The firm’s fifty day simple moving average is $277.76 and its 200-day simple moving average is $289.17. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The stock has a market cap of $208.71 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. American Express has a fifty-two week low of $220.43 and a fifty-two week high of $326.28.

American Express (NYSE:AXP) last issued its 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 company had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. During the same period in the prior year, the business posted $3.33 earnings per share. Analysts expect that American Express will post 15.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

AXP has been the subject of several research reports. Bank of America upgraded shares of American Express from a “neutral” rating to a “buy” rating and reduced their price target for the company from $325.00 to $274.00 in a research report on Friday, April 11th. Redburn Atlantic raised shares of American Express from a “sell” rating to a “neutral” rating and reduced their target price for the company from $270.00 to $255.00 in a report on Wednesday, April 23rd. 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 research note on Friday, May 23rd. William Blair reissued an “outperform” rating on shares of American Express in a report on Monday, April 21st. Finally, Robert W. Baird raised American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price objective for the company in a research note on Friday, March 14th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $296.05.

Insider Activity at American Express

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