E. Ohman J or Asset Management AB Sells 1,650 Shares of American Express (NYSE:AXP)

E. Ohman J or Asset Management AB trimmed its stake in shares of American Express (NYSE:AXP - Free Report) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,320 shares of the payment services company's stock after selling 1,650 shares during the quarter. E. Ohman J or Asset Management AB's holdings in American Express were worth $6,543,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in shares of American Express by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 11,752,084 shares of the payment services company's stock worth $3,484,312,000 after acquiring an additional 268,572 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of American Express by 1.1% in the 4th quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company's stock valued at $2,600,277,000 after purchasing an additional 95,927 shares during the last quarter. Northern Trust Corp raised its position in shares of American Express by 16.3% during the 4th quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company's stock valued at $2,025,632,000 after acquiring an additional 955,811 shares during the last quarter. Norges Bank bought a new stake in shares of American Express during the 4th quarter valued at $1,785,867,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of American Express by 8.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,015,269 shares of the payment services company's stock valued at $1,488,482,000 after acquiring an additional 408,283 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American Express

In other news, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction 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 in the company, valued at approximately $2,889,822.54. The trade was a 21.66% 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 Howard Grosfield sold 9,450 shares of American Express 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 in the company, valued at approximately $2,590,251. This trade 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.

Wall Street Analyst Weigh In

A number of research firms recently commented on AXP. Citigroup lowered their price objective on shares of American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Truist Financial increased their price objective on shares of American Express from $315.00 to $335.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. William Blair restated an "outperform" rating on shares of American Express in a research note on Monday, April 21st. JPMorgan Chase & Co. upped their target price on shares of American Express from $244.00 to $260.00 and gave the company a "neutral" rating in a report on Monday, April 21st. Finally, Argus cut 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 given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, American Express currently has a consensus rating of "Hold" and an average price target of $296.05.

American Express Stock Performance

Shares of AXP traded up $6.75 during mid-day trading on Friday, hitting $302.71. 2,098,953 shares of the company's stock were exchanged, compared to its average volume of 2,830,789. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The firm has a market cap of $212.08 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. The stock's 50-day simple moving average is $273.60 and its 200-day simple moving average is $289.09. American Express has a 52 week low of $220.43 and a 52 week high of $326.28.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 15.36% and a return on equity of 32.65%. During the same quarter last year, the business posted $3.33 EPS. On average, equities research analysts expect that American Express will post 15.33 EPS for the current 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.