American Express (NYSE:AXP) Stock Holdings Lowered by Reliant Investment Management LLC

Reliant Investment Management LLC reduced its holdings in American Express (NYSE:AXP) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,709 shares of the payment services company’s stock after selling 375 shares during the period. American Express comprises 3.6% of Reliant Investment Management LLC’s holdings, making the stock its 8th biggest position. Reliant Investment Management LLC’s holdings in American Express were worth $6,917,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Stokes Capital Advisors LLC lifted its stake in shares of American Express by 0.5% in the 1st quarter. Stokes Capital Advisors LLC now owns 32,764 shares of the payment services company’s stock valued at $8,815,000 after purchasing an additional 174 shares during the period. Hudson Valley Investment Advisors Inc. ADV lifted its stake in shares of American Express by 0.3% in the 1st quarter. Hudson Valley Investment Advisors Inc. ADV now owns 45,755 shares of the payment services company’s stock valued at $12,310,000 after purchasing an additional 132 shares during the period. Tealwood Asset Management Inc. acquired a new position in shares of American Express in the 1st quarter valued at $2,294,000. First Affirmative Financial Network raised its position in American Express by 5.7% during the first quarter. First Affirmative Financial Network now owns 4,244 shares of the payment services company’s stock worth $1,142,000 after acquiring an additional 229 shares during the period. Finally, Horizon Wealth Management LLC raised its position in American Express by 2.1% during the first quarter. Horizon Wealth Management LLC now owns 2,118 shares of the payment services company’s stock worth $570,000 after acquiring an additional 44 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AXP. Truist Financial upped their price objective on shares of American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. The Goldman Sachs Group reduced their price objective on shares of American Express from $367.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Citigroup dropped their target price on shares of American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a report on Monday, March 24th. JPMorgan Chase & Co. upped their target price on shares of American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Finally, BTIG Research dropped their target price on shares of American Express from $272.00 to $240.00 and set a “sell” rating for the company in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus target price of $296.05.

American Express Stock Performance

Shares of AXP opened at $302.71 on Friday. 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 1 year low of $220.43 and a 1 year high of $326.28. The stock has a market capitalization of $212.08 billion, a P/E ratio of 21.61, a P/E/G ratio of 1.41 and a beta of 1.25. The company’s fifty day moving average is $273.60 and its two-hundred day moving average is $289.09.

American Express (NYSE:AXP) last released its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 EPS 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 business had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. During the same period in the previous year, the firm earned $3.33 EPS. On average, sell-side analysts predict that American Express will post 15.33 earnings per share for the current year.

Insider Buying and Selling at American Express

In related news, 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 sale, the insider now owns 9,402 shares of the company’s stock, valued at approximately $2,590,251. This represents a 50.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 sale, the insider now owns 10,919 shares of the company’s stock, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by 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.