Avanza Fonder AB Has $11.58 Million Stock Holdings in American Express (NYSE:AXP)

Avanza Fonder AB grew its position in American Express (NYSE:AXP - Free Report) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,055 shares of the payment services company's stock after acquiring an additional 1,344 shares during the quarter. Avanza Fonder AB's holdings in American Express were worth $11,576,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Investment Management Corp VA ADV acquired a new position in shares of American Express in the 4th quarter valued at about $29,000. Sellwood Investment Partners LLC acquired a new position in American Express in the fourth quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp bought a new position in shares of American Express during the fourth quarter valued at approximately $33,000. Curio Wealth LLC bought a new stake in American Express in the 4th quarter valued at about $37,000. Finally, Nexus Investment Management ULC bought a new position in American Express in the 1st quarter worth about $34,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Price Performance

Shares of NYSE:AXP traded down $0.28 during trading on Wednesday, reaching $299.25. The stock had a trading volume of 2,013,499 shares, compared to its average volume of 2,822,169. The stock has a market capitalization of $209.65 billion, a PE ratio of 21.36, a P/E/G ratio of 1.41 and a beta of 1.25. American Express has a 52 week low of $220.43 and a 52 week high of $326.28. The business's 50-day moving average price is $275.16 and its 200 day moving average price is $289.15. 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 (NYSE:AXP - Get Free Report) last issued its quarterly earnings results 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. 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 during the quarter, compared to analysts' expectations of $17.04 billion. During the same quarter in the previous year, the company earned $3.33 EPS. As a group, equities analysts predict that American Express will post 15.33 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on AXP. JPMorgan Chase & Co. raised their target price on shares of American Express from $244.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. Redburn Atlantic upgraded shares of American Express from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Argus lowered shares of American Express from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 14th. BTIG Research dropped their price objective on shares of American Express from $272.00 to $240.00 and set a "sell" rating on the stock in a research note on Monday, April 21st. Finally, Robert W. Baird raised American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price target for the company in a research note on Friday, March 14th. One equities research 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.com, the company 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 American Express stock in a transaction that occurred 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 of the company's stock, valued at $2,889,822.54. This trade represents a 21.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Howard Grosfield sold 9,450 shares of the company's 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 completion of the sale, 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 disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

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.