SG Americas Securities LLC Sells 342,524 Shares of American Express (NYSE:AXP)

SG Americas Securities LLC trimmed its holdings in shares of American Express (NYSE:AXP - Free Report) by 93.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,163 shares of the payment services company's stock after selling 342,524 shares during the period. SG Americas Securities LLC's holdings in American Express were worth $5,963,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Capital & Planning LLC purchased a new stake in shares of American Express during the fourth quarter worth about $213,000. Brighton Jones LLC boosted its holdings in shares of American Express by 24.4% during the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company's stock worth $1,924,000 after purchasing an additional 1,273 shares during the period. Sovran Advisors LLC purchased a new stake in shares of American Express during the fourth quarter worth about $348,000. Portfolio Design Labs LLC purchased a new stake in shares of American Express during the fourth quarter worth about $221,000. Finally, Leavell Investment Management Inc. boosted its holdings in shares of American Express by 5.2% during the fourth quarter. Leavell Investment Management Inc. now owns 5,943 shares of the payment services company's stock worth $1,764,000 after purchasing an additional 295 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Performance

AXP stock traded down $10.37 on Friday, hitting $287.62. The company had a trading volume of 3,405,421 shares, compared to its average volume of 2,819,585. American Express has a 12-month low of $220.43 and a 12-month high of $326.28. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The stock's 50-day simple moving average is $278.89 and its 200 day simple moving average is $288.83. The stock has a market cap 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.

American Express (NYSE:AXP - Get Free Report) last issued its earnings results 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. 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 for the quarter, compared to analysts' expectations of $17.04 billion. During the same quarter last year, the company posted $3.33 earnings per share. As a group, equities research analysts expect that American Express will post 15.33 earnings per share for the current fiscal year.

Insider Transactions at American Express

In related news, insider Howard Grosfield sold 9,450 shares of American Express 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. 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. Baird R W upgraded shares of American Express from a "strong sell" rating to a "hold" rating in a report on Friday, March 14th. Robert W. Baird raised shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 target price for the company in a research note on Friday, March 14th. BTIG Research decreased their target price on shares of American Express from $272.00 to $240.00 and set a "sell" rating for the company in a research note on Monday, April 21st. Finally, Truist Financial raised their target price on shares of American Express from $315.00 to $335.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $296.05.

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.