American Express (NYSE:AXP) Position Reduced by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC decreased its position in shares of American Express (NYSE:AXP) by 3.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 31,167 shares of the payment services company’s stock after selling 960 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in American Express were worth $8,386,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC raised its holdings in American Express by 2.5% during the first quarter. Revolve Wealth Partners LLC now owns 1,620 shares of the payment services company’s stock worth $436,000 after purchasing an additional 40 shares in the last quarter. Whitaker Myers Wealth Managers LTD. bought a new stake in American Express during the first quarter worth approximately $476,000. Wedmont Private Capital raised its holdings in American Express by 1.3% during the first quarter. Wedmont Private Capital now owns 11,550 shares of the payment services company’s stock worth $2,901,000 after purchasing an additional 148 shares in the last quarter. UMB Bank n.a. raised its holdings in American Express by 3.3% during the first quarter. UMB Bank n.a. now owns 22,582 shares of the payment services company’s stock worth $6,076,000 after purchasing an additional 724 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its holdings in American Express by 6.1% during the first quarter. Sivia Capital Partners LLC now owns 1,538 shares of the payment services company’s stock worth $414,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Trading Up 2.3%

NYSE AXP opened at $302.71 on Friday. American Express has a twelve month low of $220.43 and a twelve month high of $326.28. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The stock 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 firm’s 50 day moving average price is $273.60 and its two-hundred day moving average price is $289.10.

American Express (NYSE:AXP) last posted its quarterly earnings results 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 business had revenue of $16.97 billion for the quarter, compared to analysts’ expectations of $17.04 billion. During the same period in the previous year, the company posted $3.33 EPS. Equities analysts anticipate that American Express will post 15.33 EPS for the current year.

Insider Activity

In other news, insider Howard Grosfield sold 9,450 shares of the business’s stock in a transaction 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 directly owns 9,402 shares in the company, valued at $2,590,251. The trade was a 50.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Glenda G. Mcneal sold 3,019 shares of the business’s stock in a transaction 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 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 disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AXP has been the topic of several recent research reports. William Blair restated an “outperform” rating on shares of American Express in a research report on Monday, April 21st. Argus lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 14th. Royal Bank of Canada restated an “outperform” rating and issued a $310.00 price target on shares of American Express in a research report on Monday, April 21st. 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. Finally, JPMorgan Chase & Co. lifted their price target on shares of American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. One equities 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $296.05.

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.