American Express (NYSE:AXP) Position Raised by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC boosted its position in shares of American Express (NYSE:AXP - Free Report) by 328.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,725 shares of the payment services company's stock after buying an additional 7,456 shares during the quarter. Princeton Global Asset Management LLC's holdings in American Express were worth $2,617,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AXP. Stokes Capital Advisors LLC increased its stake in American Express by 0.5% in the 1st quarter. Stokes Capital Advisors LLC now owns 32,764 shares of the payment services company's stock worth $8,815,000 after purchasing an additional 174 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its stake in American Express by 0.3% during the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 45,755 shares of the payment services company's stock valued at $12,310,000 after buying an additional 132 shares in the last quarter. Tealwood Asset Management Inc. acquired a new position in shares of American Express in the first quarter worth about $2,294,000. First Affirmative Financial Network increased its position in shares of American Express by 5.7% in the first quarter. First Affirmative Financial Network now owns 4,244 shares of the payment services company's stock worth $1,142,000 after acquiring an additional 229 shares in the last quarter. Finally, Horizon Wealth Management LLC increased its position in shares of American Express by 2.1% in the first quarter. Horizon Wealth Management LLC now owns 2,118 shares of the payment services company's stock worth $570,000 after acquiring an additional 44 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AXP. Redburn Atlantic upgraded shares of American Express from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Robert W. Baird upgraded American Express from an "underperform" rating to a "neutral" rating and set a $265.00 target price for the company in a report on Friday, March 14th. Truist Financial upped their price target on American Express from $315.00 to $335.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. William Blair reiterated an "outperform" rating on shares of American Express in a report on Monday, April 21st. Finally, Baird R W raised shares of American Express from a "strong sell" rating to a "hold" rating in a research report on Friday, March 14th. 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 MarketBeat.com, American Express presently has an average rating of "Hold" and a consensus price target of $296.05.

Insider Buying and Selling at American Express

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the transaction, the insider now directly owns 10,919 shares of the company's stock, valued at approximately $2,889,822.54. The trade was 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 business's stock in a transaction that occurred 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 transaction, the insider now owns 9,402 shares of the company's stock, valued at $2,590,251. This trade represents 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.

American Express Stock Up 2.3%

Shares of American Express stock opened at $302.71 on Friday. American Express has a 12-month low of $220.43 and a 12-month high of $326.28. The stock has a 50 day moving average price of $273.60 and a two-hundred day moving average price of $289.09. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $212.08 billion, a P/E ratio of 21.61, a PEG ratio of 1.41 and a beta of 1.25.

American Express (NYSE:AXP - Get Free Report) last issued 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. American Express had a return on equity of 32.65% and a net margin of 15.36%. The company had revenue of $16.97 billion during the quarter, compared to analyst estimates of $17.04 billion. During the same period in the previous year, the company earned $3.33 earnings per share. Equities analysts expect that American Express will post 15.33 earnings per share 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.

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