Douglas Lane & Associates LLC Sells 18,050 Shares of American Express (NYSE:AXP)

Douglas Lane & Associates LLC trimmed its position in American Express (NYSE:AXP - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 476,381 shares of the payment services company's stock after selling 18,050 shares during the quarter. American Express comprises 1.9% of Douglas Lane & Associates LLC's holdings, making the stock its 8th largest position. Douglas Lane & Associates LLC owned approximately 0.07% of American Express worth $128,170,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new stake in American Express in the fourth quarter valued at approximately $29,000. Sellwood Investment Partners LLC acquired a new stake in American Express in the fourth quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of American Express in the fourth quarter worth approximately $33,000. Nexus Investment Management ULC acquired a new stake in shares of American Express in the first quarter worth approximately $34,000. Finally, Curio Wealth LLC acquired a new stake in shares of American Express in the fourth quarter worth approximately $37,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AXP has been the topic of a number of research analyst reports. Baird R W raised American Express from a "strong sell" rating to a "hold" rating in a research note on Friday, March 14th. Monness Crespi & Hardt boosted their price objective on American Express from $275.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, April 21st. Citigroup lowered their price objective on American Express from $320.00 to $300.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. William Blair reissued an "outperform" rating on shares of American Express in a research note on Monday, April 21st. Finally, Robert W. Baird raised American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price objective on the stock in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, American Express currently has an average rating of "Hold" and an average price target of $296.05.

American Express Stock Up 0.8%

NYSE AXP traded up $2.28 during trading hours on Tuesday, hitting $297.61. 2,202,347 shares of the company were exchanged, compared to its average volume of 2,840,816. The company has a 50 day moving average of $271.29 and a two-hundred day moving average of $288.79. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a 52-week low of $220.43 and a 52-week high of $326.28. The firm has a market cap of $208.50 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.41 and a beta of 1.23.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data 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 business had revenue of $16.97 billion during the quarter, compared to analysts' expectations of $17.04 billion. American Express had a return on equity of 32.65% and a net margin of 15.36%. During the same period in the prior year, the firm posted $3.33 EPS. Equities research analysts anticipate that American Express will post 15.33 earnings per share for the current year.

Insider Activity

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was 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 of the company's stock, valued at approximately $2,889,822.54. This represents a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Angelakis purchased 3,700 shares of the company's stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now directly owns 3,700 shares of the company's stock, valued at $998,593. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.20% of the company's stock.

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.