Wright Investors Service Inc. Acquires 6,990 Shares of American Express (NYSE:AXP)

Wright Investors Service Inc. lifted its position in shares of American Express (NYSE:AXP - Free Report) by 44.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,813 shares of the payment services company's stock after purchasing an additional 6,990 shares during the period. American Express accounts for approximately 2.0% of Wright Investors Service Inc.'s portfolio, making the stock its 13th largest position. Wright Investors Service Inc.'s holdings in American Express were worth $6,138,000 at the end of the most recent quarter.

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

Insider Buying and Selling at American Express

In related news, Director Michael J. Angelakis bought 3,700 shares of the firm's stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the purchase, the director now owns 3,700 shares in the company, valued at approximately $998,593. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Howard Grosfield sold 9,450 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the sale, the insider now owns 9,402 shares of the company's stock, valued at approximately $2,590,251. This represents a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

American Express Stock Up 0.8%

NYSE AXP traded up $2.28 during mid-day trading on Tuesday, reaching $297.61. The stock had a trading volume of 2,202,347 shares, compared to its average volume of 2,840,816. American Express has a 1 year low of $220.43 and a 1 year high of $326.28. The stock has a market cap of $208.50 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. The company has a fifty day moving average price of $271.29 and a 200 day moving average price of $288.79. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. 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 business earned $3.33 EPS. On average, research analysts expect that American Express will post 15.33 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on AXP. Royal Bank of Canada restated an "outperform" rating and issued a $310.00 price objective on shares of American Express in a report on Monday, April 21st. Argus lowered shares of American Express from a "strong-buy" rating to a "hold" rating in a report on Friday, March 14th. BTIG Research lowered their price objective on shares of American Express from $272.00 to $240.00 and set a "sell" rating for the company in a report on Monday, April 21st. Truist Financial lifted their target price on shares of American Express from $315.00 to $335.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, William Blair reissued an "outperform" rating on shares of American Express in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $296.05.

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.