Argus Investors Counsel Inc. Has $1.51 Million Holdings in American Express (NYSE:AXP)

Argus Investors Counsel Inc. cut its holdings in American Express (NYSE:AXP - Free Report) by 16.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,604 shares of the payment services company's stock after selling 1,118 shares during the period. American Express accounts for approximately 1.1% of Argus Investors Counsel Inc.'s portfolio, making the stock its 27th biggest holding. Argus Investors Counsel Inc.'s holdings in American Express were worth $1,508,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AXP. Capital & Planning LLC bought a new position in American Express during the fourth quarter valued at about $213,000. Brighton Jones LLC increased its stake in American Express by 24.4% during the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company's stock valued at $1,924,000 after acquiring an additional 1,273 shares during the period. Sovran Advisors LLC bought a new position in American Express during the fourth quarter valued at about $348,000. Portfolio Design Labs LLC bought a new position in American Express during the fourth quarter valued at about $221,000. Finally, Leavell Investment Management Inc. increased its stake in 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 valued at $1,764,000 after acquiring an additional 295 shares during the period. 84.33% of the stock is currently owned by institutional investors.

American Express Price Performance

NYSE AXP traded down $10.37 during trading hours on Friday, reaching $287.62. 3,405,421 shares of the company's stock were exchanged, compared to its average volume of 2,817,803. The stock has a market cap of $201.50 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. American Express has a one year low of $220.43 and a one year high of $326.28. The firm has a fifty day moving average of $278.89 and a 200-day moving average of $289.04. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. The business had revenue of $16.97 billion for the quarter, compared to analyst estimates 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 company earned $3.33 EPS. On average, equities research analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AXP. Bank of America upgraded American Express from a "neutral" rating to a "buy" rating and lowered their price target for the company from $325.00 to $274.00 in a research note on Friday, April 11th. Baird R W upgraded American Express from a "strong sell" rating to a "hold" rating in a research note on Friday, March 14th. Truist Financial boosted their price target on American Express from $315.00 to $335.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Argus lowered American Express from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 14th. Finally, The Goldman Sachs Group lowered their price objective 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. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $296.05.

Insiders Place Their Bets

In other American Express news, insider Howard Grosfield sold 9,450 shares of the company's stock in a transaction 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 owns 9,402 shares of the company's stock, valued at approximately $2,590,251. This represents a 50.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of the company's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the transaction, the insider now directly owns 10,919 shares in the company, valued at approximately $2,889,822.54. This represents a 21.66% decrease in their position. The disclosure for this sale can be found here. Company 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.