Cyndeo Wealth Partners LLC Raises Stock Position in American Express (NYSE:AXP)

Cyndeo Wealth Partners LLC boosted its position in shares of American Express (NYSE:AXP - Free Report) by 1,017.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 26,619 shares of the payment services company's stock after acquiring an additional 24,236 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in American Express were worth $7,162,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Hanson & Doremus Investment Management boosted its position in American Express by 29.4% in the first quarter. Hanson & Doremus Investment Management now owns 3,915 shares of the payment services company's stock valued at $1,053,000 after buying an additional 889 shares during the last quarter. Conway Capital Management Inc. lifted its stake in American Express by 221.4% during the 1st quarter. Conway Capital Management Inc. now owns 3,375 shares of the payment services company's stock valued at $908,000 after acquiring an additional 2,325 shares during the period. Bank Pictet & Cie Europe AG boosted its holdings in shares of American Express by 17.4% in the 1st quarter. Bank Pictet & Cie Europe AG now owns 3,090 shares of the payment services company's stock valued at $831,000 after acquiring an additional 457 shares during the last quarter. Trust Co. of Toledo NA OH increased its stake in shares of American Express by 0.8% in the first quarter. Trust Co. of Toledo NA OH now owns 11,786 shares of the payment services company's stock worth $3,171,000 after acquiring an additional 90 shares during the period. Finally, D Orazio & Associates Inc. raised its holdings in shares of American Express by 3.9% during the first quarter. D Orazio & Associates Inc. now owns 1,107 shares of the payment services company's stock worth $298,000 after purchasing an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company's stock.

Insider Transactions at American Express

In other American Express news, insider Howard Grosfield sold 9,450 shares of the firm'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 completion of the sale, the insider now owns 9,402 shares of the company's stock, valued at $2,590,251. This trade represents a 50.13% 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 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 transaction of $799,008.54. Following the completion of the transaction, the insider now directly owns 10,919 shares in the company, valued at $2,889,822.54. The trade was a 21.66% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

American Express Price Performance

NYSE AXP traded up $6.38 during trading hours on Monday, hitting $294.17. 2,306,837 shares of the company's stock traded hands, compared to its average volume of 2,817,525. The company has a market capitalization of $206.09 billion, a PE ratio of 21.00, 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 52-week low of $220.43 and a 52-week high of $326.28. The firm's 50-day moving average is $278.89 and its 200-day moving average is $288.83.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.47 by $0.17. The firm had revenue of $16.97 billion during the quarter, compared to analysts' expectations 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 firm earned $3.33 earnings per share. Equities analysts forecast that American Express will post 15.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. BTIG Research lowered their price target on shares of American Express from $272.00 to $240.00 and set a "sell" rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. upped their target price on American Express from $244.00 to $260.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Baird R W upgraded American Express from a "strong sell" rating to a "hold" rating in a research report on Friday, March 14th. Redburn Atlantic upgraded 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. Finally, Argus lowered shares of American Express from a "strong-buy" rating to a "hold" rating in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, American Express has a consensus rating of "Hold" and an average price target of $296.05.

American Express 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.