Allen Mooney & Barnes Investment Advisors LLC Sells 1,603 Shares of American Express (NYSE:AXP)

Allen Mooney & Barnes Investment Advisors LLC cut its stake in American Express (NYSE:AXP - Free Report) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,050 shares of the payment services company's stock after selling 1,603 shares during the quarter. American Express comprises approximately 2.9% of Allen Mooney & Barnes Investment Advisors LLC's holdings, making the stock its 5th largest holding. Allen Mooney & Barnes Investment Advisors LLC's holdings in American Express were worth $18,040,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Boston Financial Mangement LLC raised its stake in American Express by 0.9% during the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company's stock valued at $1,189,000 after buying an additional 34 shares in the last quarter. Trillium Asset Management LLC raised its stake in American Express by 1.4% during the fourth quarter. Trillium Asset Management LLC now owns 2,449 shares of the payment services company's stock valued at $727,000 after buying an additional 35 shares in the last quarter. Zions Bancorporation N.A. raised its stake in American Express by 2.4% during the fourth quarter. Zions Bancorporation N.A. now owns 1,510 shares of the payment services company's stock valued at $448,000 after buying an additional 35 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in American Express by 2.8% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,317 shares of the payment services company's stock valued at $391,000 after buying an additional 36 shares in the last quarter. Finally, Arista Wealth Management LLC raised its stake in American Express by 1.7% during the fourth quarter. Arista Wealth Management LLC now owns 2,275 shares of the payment services company's stock valued at $675,000 after buying an additional 37 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on AXP shares. BTIG Research decreased their price target on American Express from $272.00 to $240.00 and set a "sell" rating for the company in a research note on Monday, April 21st. 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 report on Friday, March 14th. William Blair restated an "outperform" rating on shares of American Express in a research report on Monday, April 21st. 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 report 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 report on Monday, March 24th. One investment 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $296.05.

American Express Stock Down 3.5%

Shares of AXP stock traded down $10.37 during trading on Friday, hitting $287.62. 3,405,421 shares of the company were exchanged, compared to its average volume of 2,819,585. The firm has a market capitalization of $201.50 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 1.41 and a beta of 1.25. The business's 50-day simple moving average is $278.89 and its 200 day simple moving average is $288.83. 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 has a twelve month low of $220.43 and a twelve month high of $326.28.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the firm earned $3.33 earnings per share. As a group, analysts forecast that American Express will post 15.33 EPS for the current fiscal year.

Insider Activity

In other news, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the sale, the insider now owns 10,919 shares in the company, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction on 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 owns 9,402 shares in the company, valued at approximately $2,590,251. The trade was a 50.13% decrease in their position. 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.