Baxter Bros Inc. Lowers Stock Position in American Express (NYSE:AXP)

Baxter Bros Inc. lowered its position in American Express (NYSE:AXP - Free Report) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,652 shares of the payment services company's stock after selling 994 shares during the period. American Express comprises 2.8% of Baxter Bros Inc.'s holdings, making the stock its 10th largest position. Baxter Bros Inc.'s holdings in American Express were worth $21,161,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of American Express by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 11,752,084 shares of the payment services company's stock valued at $3,484,312,000 after buying an additional 268,572 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of American Express by 1.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company's stock worth $2,600,277,000 after buying an additional 95,927 shares during the period. Northern Trust Corp grew its holdings in shares of American Express by 16.3% during the fourth quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company's stock worth $2,025,632,000 after buying an additional 955,811 shares in the last quarter. Norges Bank acquired a new stake in American Express in the 4th quarter valued at approximately $1,785,867,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in American Express by 8.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,015,269 shares of the payment services company's stock worth $1,488,482,000 after acquiring an additional 408,283 shares during the last quarter. Institutional investors own 84.33% of the company's stock.

Insider Buying and Selling at American Express

In other American Express news, Director Michael J. Angelakis bought 3,700 shares of the stock in a transaction dated Friday, March 7th. The shares were bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the acquisition, the director now owns 3,700 shares of the company's stock, valued at $998,593. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Howard Grosfield sold 9,450 shares of the firm'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 transaction, the insider now directly owns 9,402 shares in the company, valued at $2,590,251. This 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.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AXP. Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and cut their price objective for the stock from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $310.00 target price on shares of American Express in a research report on Monday, April 21st. Bank of America raised American Express from a "neutral" rating to a "buy" rating and reduced their price target for the company from $325.00 to $274.00 in a research report on Friday, April 11th. Baird R W raised American Express from a "strong sell" rating to a "hold" rating in a research report on Friday, March 14th. Finally, The Goldman Sachs Group cut their price objective on American Express from $367.00 to $330.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. 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 stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $296.05.

American Express Stock Performance

American Express stock traded down $1.20 during trading hours on Wednesday, hitting $296.19. The company had a trading volume of 1,842,064 shares, compared to its average volume of 2,836,842. The firm has a market cap of $207.51 billion, a PE ratio of 21.14, a PEG ratio of 1.41 and a beta of 1.25. 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 has a one year low of $220.43 and a one year high of $326.28. The firm has a 50-day moving average of $271.80 and a 200 day moving average of $288.85.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.17. The firm had revenue of $16.97 billion for the quarter, compared to analysts' expectations of $17.04 billion. American Express had a net margin of 15.36% and a return on equity of 32.65%. During the same period in the prior year, the firm earned $3.33 EPS. On average, sell-side 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.