Abner Herrman & Brock LLC Lowers Stake in American Express (NYSE:AXP)

Abner Herrman & Brock LLC decreased its position in American Express (NYSE:AXP - Free Report) by 4.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 72,341 shares of the payment services company's stock after selling 3,260 shares during the period. American Express comprises 2.5% of Abner Herrman & Brock LLC's portfolio, making the stock its 18th biggest position. Abner Herrman & Brock LLC's holdings in American Express were worth $19,463,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of American Express during the fourth quarter worth approximately $1,785,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in American Express by 463.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company's stock worth $1,293,259,000 after buying an additional 3,583,959 shares during the period. GAMMA Investing LLC lifted its holdings in shares of American Express by 27,625.2% during the first quarter. GAMMA Investing LLC now owns 2,162,846 shares of the payment services company's stock worth $581,914,000 after buying an additional 2,155,045 shares in the last quarter. Capital Research Global Investors boosted its position in shares of American Express by 186.3% in the fourth quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company's stock valued at $886,426,000 after acquiring an additional 1,943,463 shares during the period. Finally, Kovitz Investment Group Partners LLC grew its stake in shares of American Express by 346.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company's stock valued at $600,072,000 after acquiring an additional 1,568,747 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Trading Up 0.7%

NYSE:AXP traded up $2.13 during midday trading on Thursday, hitting $298.06. 538,037 shares of the company traded hands, compared to its average volume of 2,829,083. American Express has a 12-month low of $220.43 and a 12-month high of $326.28. 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 firm has a market capitalization of $208.81 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.41 and a beta of 1.25. The firm's fifty day moving average is $272.42 and its 200-day moving average is $288.90.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. The firm 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 period in the prior year, the business posted $3.33 earnings per share. On average, sell-side analysts predict that American Express will post 15.33 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on AXP shares. Robert W. Baird upgraded shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 target price for the company in a research report on Friday, March 14th. William Blair reiterated an "outperform" rating on shares of American Express in a research report on Monday, April 21st. Bank of America raised shares of American Express from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $325.00 to $274.00 in a report on Friday, April 11th. Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Finally, The Goldman Sachs Group cut their target price 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. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $296.05.

Insider Activity

In related news, Director Michael J. Angelakis purchased 3,700 shares of the business's stock in a transaction on Friday, March 7th. The shares were acquired at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the purchase, the director now owns 3,700 shares of the company's stock, valued at $998,593. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Glenda G. Mcneal sold 3,019 shares of the company'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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

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.