Hanson & Doremus Investment Management Has $1.05 Million Stock Position in American Express (NYSE:AXP)

Hanson & Doremus Investment Management raised its position in American Express (NYSE:AXP - Free Report) by 29.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,915 shares of the payment services company's stock after buying an additional 889 shares during the period. Hanson & Doremus Investment Management's holdings in American Express were worth $1,053,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Boston Financial Mangement LLC raised its position in shares of American Express by 0.9% during the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company's stock worth $1,189,000 after acquiring an additional 34 shares during the last quarter. Trillium Asset Management LLC increased its position in American Express by 1.4% in the fourth quarter. Trillium Asset Management LLC now owns 2,449 shares of the payment services company's stock worth $727,000 after purchasing an additional 35 shares during the period. Zions Bancorporation N.A. raised its holdings in American Express by 2.4% during the 4th quarter. Zions Bancorporation N.A. now owns 1,510 shares of the payment services company's stock worth $448,000 after purchasing an additional 35 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in American Express by 2.8% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,317 shares of the payment services company's stock valued at $391,000 after purchasing an additional 36 shares during the period. Finally, Arista Wealth Management LLC boosted its stake in shares of American Express by 1.7% in the 4th quarter. Arista Wealth Management LLC now owns 2,275 shares of the payment services company's stock valued at $675,000 after purchasing an additional 37 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Up 2.2%

NYSE AXP traded up $6.38 on Monday, reaching $294.17. The company had a trading volume of 2,306,837 shares, compared to its average volume of 2,817,525. The company's fifty day moving average is $278.89 and its 200-day moving average is $288.83. The firm has a market capitalization of $206.09 billion, a price-to-earnings ratio of 21.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express has a 1-year low of $220.43 and a 1-year high of $326.28.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.17. The company 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 earned $3.33 earnings per share. On average, research analysts forecast that American Express will post 15.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on AXP. Citigroup dropped their price target on shares of American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. William Blair reiterated an "outperform" rating on shares of American Express in a research report on Monday, April 21st. The Goldman Sachs Group cut their price target on 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 lifted 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. Finally, Bank of America upgraded American Express from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $325.00 to $274.00 in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, American Express currently has an average rating of "Hold" and a consensus target price of $296.05.

Insiders Place Their Bets

In related news, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $2,889,822.54. This trade 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 this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the business's stock in a transaction dated 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 sale, the insider now directly owns 9,402 shares in the company, valued at $2,590,251. This trade represents a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

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.