Argus Investors Counsel Inc. Lowers Holdings in American Express (NYSE:AXP)

Argus Investors Counsel Inc. trimmed its position in American Express (NYSE:AXP - Free Report) by 16.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,604 shares of the payment services company's stock after selling 1,118 shares during the period. American Express makes up approximately 1.1% of Argus Investors Counsel Inc.'s investment portfolio, making the stock its 27th largest holding. Argus Investors Counsel Inc.'s holdings in American Express were worth $1,508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of American Express by 2.3% in the fourth 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 purchasing an additional 268,572 shares during the last quarter. Fisher Asset Management LLC increased its stake in American Express by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company's stock valued at $2,600,277,000 after buying an additional 95,927 shares during the last quarter. Northern Trust Corp increased its stake in American Express by 16.3% in the 4th quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company's stock valued at $2,025,632,000 after buying an additional 955,811 shares during the last quarter. Norges Bank bought a new stake in American Express during the 4th quarter worth about $1,785,867,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 buying an additional 408,283 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

AXP traded up $6.38 during trading on Monday, hitting $294.17. The company's stock had a trading volume of 2,305,933 shares, compared to its average volume of 3,007,674. American Express has a one year low of $220.43 and a one year high of $326.27. The business's 50 day simple moving average is $278.89 and its 200-day simple moving average is $288.83. 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 cap of $206.09 billion, a PE ratio of 21.00, a P/E/G ratio of 1.41 and a beta of 1.25.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $16.97 billion for the quarter, compared to the consensus estimate 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 company earned $3.33 earnings per share. As a group, sell-side analysts predict that American Express will post 15.33 EPS for the current fiscal year.

Insider Activity

In related news, insider Glenda G. Mcneal sold 3,019 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 10,919 shares of the company's stock, valued at $2,889,822.54. This represents a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Howard Grosfield sold 9,450 shares of the stock in a transaction that occurred 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. This represents a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on AXP shares. 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. 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. Argus lowered shares of American Express from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 14th. Monness Crespi & Hardt increased their price target on shares of American Express from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of American Express from $244.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus 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.