Park Edge Advisors LLC Buys 2,472 Shares of American Express (NYSE:AXP)

Park Edge Advisors LLC boosted its position in American Express (NYSE:AXP - Free Report) by 224.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,574 shares of the payment services company's stock after acquiring an additional 2,472 shares during the quarter. Park Edge Advisors LLC's holdings in American Express were worth $962,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AXP. Investment Management Corp VA ADV acquired a new stake in shares of American Express in the 4th quarter valued at $29,000. Sellwood Investment Partners LLC acquired a new stake in American Express in the fourth quarter valued at about $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in American Express in the fourth quarter valued at about $33,000. Nexus Investment Management ULC bought a new position in American Express in the first quarter valued at about $34,000. Finally, Curio Wealth LLC acquired a new position in American Express during the fourth quarter worth about $37,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AXP has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their price target on shares of American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. Monness Crespi & Hardt boosted their target price 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. Royal Bank of Canada reiterated an "outperform" rating and set a $310.00 price target on shares of American Express in a report on Monday, April 21st. Citigroup cut their price objective on American Express from $320.00 to $300.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Finally, Truist Financial upped their target price on American Express from $315.00 to $335.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. 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 stock. Based on data from MarketBeat.com, American Express presently has a consensus rating of "Hold" and a consensus price target of $296.05.

American Express Trading Down 0.0%

American Express stock traded down $0.04 during trading hours on Thursday, reaching $295.89. 1,696,788 shares of the company's stock were exchanged, compared to its average volume of 2,833,586. The firm's 50 day simple moving average is $272.42 and its 200 day simple moving average is $288.90. American Express has a twelve month low of $220.43 and a twelve month high of $326.28. 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 firm has a market capitalization of $207.30 billion, a PE ratio of 21.12, a PEG ratio of 1.41 and a beta of 1.25.

American Express (NYSE:AXP - Get Free Report) last released its earnings results on Thursday, April 17th. The payment services company reported $3.64 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 quarter last year, the firm posted $3.33 earnings per share. Research analysts predict that American Express will post 15.33 earnings per share for the current year.

Insider Activity

In other American Express news, Director Michael J. Angelakis bought 3,700 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the transaction, the director now directly owns 3,700 shares in the company, valued at approximately $998,593. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 10,919 shares in the company, valued at $2,889,822.54. This represents a 21.66% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

American Express Company 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.