Everpar Advisors LLC Reduces Stock Position in American Express (NYSE:AXP)

Everpar Advisors LLC cut its holdings in American Express (NYSE:AXP) by 11.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 783 shares of the payment services company’s stock after selling 104 shares during the quarter. Everpar Advisors LLC’s holdings in American Express were worth $211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AXP. Investment Management Corp VA ADV bought a new position in shares of American Express during the fourth quarter valued at approximately $29,000. Sellwood Investment Partners LLC bought a new position in American Express in the 4th quarter worth $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in shares of American Express in the 4th quarter worth about $33,000. Curio Wealth LLC bought a new stake in shares of American Express during the 4th quarter valued at about $37,000. Finally, Nexus Investment Management ULC bought a new position in American Express in the first quarter worth about $34,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Activity at American Express

In other American Express news, insider Howard Grosfield sold 9,450 shares of the business’s stock in a transaction dated 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 completion of the sale, 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 document filed with the SEC, which is available through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 10,919 shares in the company, valued at approximately $2,889,822.54. The trade was a 21.66% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on AXP shares. Citigroup cut their price objective on American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Bank of America raised American Express from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $325.00 to $274.00 in a research note on Friday, April 11th. The Goldman Sachs Group lowered their price objective on American Express from $367.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. BTIG Research dropped their target price on shares of American Express from $272.00 to $240.00 and set a “sell” rating on the stock in a report on Monday, April 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $310.00 price target on shares of American Express in a research note on Monday, April 21st. One 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $296.05.

American Express Price Performance

NYSE AXP opened at $287.62 on Friday. The stock has a 50-day moving average of $278.89 and a 200 day moving average of $288.94. American Express has a one year low of $220.43 and a one year high of $326.28. The company has a market capitalization of $201.50 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.41 and a beta of 1.25. 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 (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 the consensus estimate of $3.47 by $0.17. The company had revenue of $16.97 billion for the quarter, compared to analysts’ expectations 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 company posted $3.33 earnings per share. On average, sell-side analysts forecast that American Express will post 15.33 EPS for the current 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.