Donaldson Capital Management LLC Makes New Investment in American Express (NYSE:AXP)

Donaldson Capital Management LLC acquired a new position in shares of American Express (NYSE:AXP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 847 shares of the payment services company's stock, valued at approximately $228,000.

Other large investors have also modified their holdings of the company. Keybank National Association OH raised its stake in shares of American Express by 3.7% in the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company's stock valued at $103,858,000 after buying an additional 12,364 shares in the last quarter. Edge Capital Group LLC increased its stake in shares of American Express by 20.9% in the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company's stock valued at $1,915,000 after buying an additional 1,113 shares in the last quarter. Game Plan Financial Advisors LLC increased its holdings in shares of American Express by 17.5% in the fourth quarter. Game Plan Financial Advisors LLC now owns 18,982 shares of the payment services company's stock valued at $5,638,000 after purchasing an additional 2,826 shares in the last quarter. NewEdge Wealth LLC raised its position in shares of American Express by 6.0% during the fourth quarter. NewEdge Wealth LLC now owns 26,102 shares of the payment services company's stock worth $7,747,000 after acquiring an additional 1,471 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of American Express by 11.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 50,009 shares of the payment services company's stock valued at $14,842,000 after purchasing an additional 4,959 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Glenda G. Mcneal sold 3,019 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now 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 filing with the SEC, which is available through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the transaction, the insider now directly owns 9,402 shares of the company's stock, valued at $2,590,251. This represents a 50.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their target price on shares of American Express from $367.00 to $330.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and reduced their price objective for the stock from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Truist Financial raised their target price on shares of American Express from $315.00 to $335.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Monness Crespi & Hardt lifted their price objective on shares of American Express from $275.00 to $285.00 and gave the company a "buy" rating in a report on Monday, April 21st. Finally, BTIG Research lowered their price objective 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. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $296.05.

American Express Stock Performance

Shares of NYSE:AXP traded down $1.20 on Thursday, reaching $297.90. 1,603,921 shares of the company's stock were exchanged, compared to its average volume of 2,816,223. 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 has a twelve month low of $220.43 and a twelve month high of $326.28. The company has a fifty day moving average of $276.48 and a 200-day moving average of $289.22. The company has a market capitalization of $208.71 billion, a price-to-earnings ratio of 21.26, a PEG 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 earnings per share 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 business had revenue of $16.97 billion during the quarter, compared to analysts' expectations of $17.04 billion. During the same quarter in the prior year, the business posted $3.33 earnings per share. On average, research analysts predict that American Express will post 15.33 EPS for the current fiscal year.

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.