American Express (NYSE:AXP) Shares Sold by Tobam

Tobam decreased its stake in shares of American Express (NYSE:AXP) by 47.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 963 shares of the payment services company’s stock after selling 873 shares during the period. Tobam’s holdings in American Express were worth $259,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Compagnie Lombard Odier SCmA bought a new position in American Express in the first quarter worth about $78,000. Ferguson Wellman Capital Management Inc. increased its stake in shares of American Express by 18.0% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 6,526 shares of the payment services company’s stock valued at $1,756,000 after acquiring an additional 997 shares during the period. Defined Financial Planning LLC acquired a new position in shares of American Express during the first quarter valued at approximately $216,000. Net Worth Advisory Group acquired a new position in shares of American Express during the first quarter valued at approximately $590,000. Finally, GPS Wealth Strategies Group LLC increased its stake in shares of American Express by 31.1% during the first quarter. GPS Wealth Strategies Group LLC now owns 177 shares of the payment services company’s stock valued at $48,000 after acquiring an additional 42 shares during the period. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other news, insider Glenda G. Mcneal sold 3,019 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction 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. This represents a 21.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Howard Grosfield sold 9,450 shares of the stock in a transaction that occurred 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 $2,590,251. This represents a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on AXP shares. The Goldman Sachs Group decreased their price target on shares of American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Robert W. Baird raised shares of American Express from an “underperform” rating to a “neutral” rating and set a $265.00 target price for the company in a research note on Friday, March 14th. Argus lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 14th. 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. Finally, Monness Crespi & Hardt lifted 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 equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $296.05.

American Express Stock Performance

NYSE:AXP opened at $287.62 on Friday. American Express has a 12-month low of $220.43 and a 12-month high of $326.28. 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 firm has a market capitalization of $201.50 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. The firm has a 50-day moving average price of $278.89 and a 200 day moving average price of $289.04.

American Express (NYSE:AXP) last issued its earnings results 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. The business had revenue of $16.97 billion during the quarter, compared to analysts’ expectations of $17.04 billion. American Express had a return on equity of 32.65% and a net margin of 15.36%. During the same period in the prior year, the firm posted $3.33 EPS. Research analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

About American Express

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.