Patton Fund Management Inc. Sells 4,631 Shares of American Express (NYSE:AXP)

Patton Fund Management Inc. lowered its position in American Express (NYSE:AXP) by 22.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,739 shares of the payment services company’s stock after selling 4,631 shares during the period. Patton Fund Management Inc.’s holdings in American Express were worth $4,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Keybank National Association OH raised its stake in shares of American Express by 3.7% during the fourth quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock valued at $103,858,000 after acquiring an additional 12,364 shares in the last quarter. Edge Capital Group LLC raised its stake in shares of American Express by 20.9% during the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock valued at $1,915,000 after acquiring an additional 1,113 shares in the last quarter. NewEdge Wealth LLC raised its stake in shares of American Express by 6.0% during the fourth quarter. NewEdge Wealth LLC now owns 26,102 shares of the payment services company’s stock valued at $7,747,000 after acquiring an additional 1,471 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of American Express by 11.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 50,009 shares of the payment services company’s stock valued at $14,842,000 after acquiring an additional 4,959 shares in the last quarter. Finally, Griffith & Werner Inc. bought a new stake in shares of American Express during the fourth quarter valued at approximately $1,311,000. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In other news, 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 sale, the insider now directly owns 10,919 shares of the company’s stock, valued at $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the company’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 completion of 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 disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

American Express Price Performance

Shares of AXP opened at $294.17 on Tuesday. The firm has a market capitalization of $206.09 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. American Express has a 1-year low of $220.43 and a 1-year high of $326.28. The company’s fifty day moving average price is $280.15 and its 200-day moving average price is $288.76.

American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.17. The firm had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. American Express had a net margin of 15.36% and a return on equity of 32.65%. During the same period in the previous year, the company earned $3.33 earnings per share. On average, equities research analysts predict that American Express will post 15.33 EPS for the current year.

Analyst Ratings Changes

AXP has been the subject of several research analyst reports. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, April 21st. Argus downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 14th. Truist Financial boosted their price objective on shares of American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. 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. Finally, Monness Crespi & Hardt boosted their price objective on shares of American Express from $275.00 to $285.00 and gave the stock a “buy” rating 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.