American Express (NYSE:AXP) Shares Sold by Stablepoint Partners LLC

by · The Markets Daily

Stablepoint Partners LLC lessened its position in shares of American Express (NYSE:AXP) by 10.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 6,244 shares of the payment services company’s stock after selling 747 shares during the period. Stablepoint Partners LLC’s holdings in American Express were worth $1,680,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC lifted its stake in American Express by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after purchasing an additional 33 shares during the last quarter. Boston Financial Mangement LLC lifted its stake in American Express by 0.9% during the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock worth $1,189,000 after purchasing an additional 34 shares during the last quarter. Silver Oak Securities Incorporated lifted its stake in American Express by 2.5% during the fourth quarter. Silver Oak Securities Incorporated now owns 1,424 shares of the payment services company’s stock worth $423,000 after purchasing an additional 35 shares during the last quarter. Trillium Asset Management LLC lifted its stake in American Express by 1.4% in the fourth quarter. Trillium Asset Management LLC now owns 2,449 shares of the payment services company’s stock valued at $727,000 after buying an additional 35 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its stake in American Express by 2.4% in the fourth quarter. Zions Bancorporation N.A. now owns 1,510 shares of the payment services company’s stock valued at $448,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AXP. Truist Financial boosted their price objective on American Express from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Monness Crespi & Hardt boosted their price objective on American Express from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 21st. Bank of America upgraded 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. JPMorgan Chase & Co. boosted their price objective on American Express from $244.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, April 21st. Finally, William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $296.05.

Get Our Latest Analysis on American Express

Insider Activity

In other American Express news, insider Howard Grosfield sold 9,450 shares of the business’s 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 directly owns 9,402 shares in the company, valued at approximately $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 on Tuesday, April 29th. The stock was 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 of the company’s stock, valued at $2,889,822.54. This trade represents a 21.66% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

American Express Trading Down 0.0%

NYSE:AXP opened at $295.89 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 $207.30 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.41 and a beta of 1.25. The stock has a fifty day moving average price of $272.96 and a two-hundred day moving average price of $288.97.

American Express (NYSE:AXP – Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating 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 firm had revenue of $16.97 billion during the quarter, compared to analysts’ expectations of $17.04 billion. During the same quarter last year, the business earned $3.33 earnings per share. As a group, sell-side analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

About American Express

(Free Report)

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.

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