Magnus Financial Group LLC Acquires 253 Shares of American Express (NYSE:AXP)

Magnus Financial Group LLC increased its holdings in American Express (NYSE:AXP) by 5.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,651 shares of the payment services company’s stock after acquiring an additional 253 shares during the quarter. Magnus Financial Group LLC’s holdings in American Express were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC increased its stake 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 in the last quarter. Fisher Asset Management LLC increased its stake 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 valued at $2,600,277,000 after purchasing an additional 95,927 shares in the last quarter. Northern Trust Corp increased its stake 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 valued at $2,025,632,000 after purchasing an additional 955,811 shares in the last quarter. Norges Bank bought a new stake in American Express during the 4th quarter valued at about $1,785,867,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 valued at $1,488,482,000 after purchasing an additional 408,283 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

AXP opened at $302.71 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The company has a market cap of $212.08 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.41 and a beta of 1.25. The company’s 50 day moving average is $273.60 and its 200 day moving average is $289.09. 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 quarterly earnings data 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 company 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 quarter last year, the firm posted $3.33 earnings per share. On average, equities research analysts predict that American Express will post 15.33 EPS for the current year.

Insider Buying and Selling at American Express

In other American Express news, insider Howard Grosfield sold 9,450 shares of American Express 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 transaction, the insider now owns 9,402 shares of the company’s stock, valued at $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of American Express 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 $2,889,822.54. This 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.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Robert W. Baird upgraded shares of 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. William Blair restated an “outperform” rating on shares of American Express in a research note on Monday, April 21st. Truist Financial raised their price objective on shares of American Express from $315.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. Redburn Atlantic upgraded shares of American Express from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Finally, Citigroup reduced their price objective on shares of American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, American Express has an average rating of “Hold” and a consensus target price of $296.05.

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.