Conway Capital Management Inc. Buys 2,325 Shares of American Express (NYSE:AXP)

Conway Capital Management Inc. raised its stake in American Express (NYSE:AXP - Free Report) by 221.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,375 shares of the payment services company's stock after acquiring an additional 2,325 shares during the quarter. American Express comprises 0.5% of Conway Capital Management Inc.'s holdings, making the stock its 25th largest position. Conway Capital Management Inc.'s holdings in American Express were worth $908,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Investment Management Corp VA ADV bought a new position in American Express in the 4th quarter valued at about $29,000. Sellwood Investment Partners LLC bought a new position in American Express in the 4th quarter valued at about $33,000. Murphy & Mullick Capital Management Corp bought a new position in American Express in the 4th quarter valued at about $33,000. Curio Wealth LLC bought a new position 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 valued at about $34,000. 84.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $310.00 target price on shares of American Express in a report on Monday, April 21st. JPMorgan Chase & Co. raised their target price on shares of American Express from $244.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Robert W. Baird raised shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 target price on the stock in a report on Friday, March 14th. Monness Crespi & Hardt raised their target price on shares of American Express from $275.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Finally, Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and lowered their target price for the stock from $270.00 to $255.00 in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $296.05.

American Express Stock Performance

Shares of American Express stock opened at $287.62 on Monday. American Express has a fifty-two week low of $220.43 and a fifty-two week high of $326.28. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The firm has a market capitalization of $201.50 billion, a P/E ratio of 20.53, a P/E/G ratio of 1.41 and a beta of 1.25. The company's 50 day moving average price is $278.89 and its two-hundred day moving average price is $288.83.

American Express (NYSE:AXP - Get Free Report) last issued its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The firm had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. During the same quarter last year, the business posted $3.33 earnings per share. On average, equities analysts forecast that American Express will post 15.33 earnings per share for the current fiscal year.

Insider Buying and Selling at American Express

In other news, insider Howard Grosfield sold 9,450 shares of American Express 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 transaction, the insider now owns 9,402 shares in the company, valued at approximately $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction on Tuesday, April 29th. The stock was 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 in the company, valued at approximately $2,889,822.54. This trade 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.

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.

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