GAMMA Investing LLC Grows Position in American Express (NYSE:AXP)

GAMMA Investing LLC raised its stake in shares of American Express (NYSE:AXP - Free Report) by 27,625.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,162,846 shares of the payment services company's stock after acquiring an additional 2,155,045 shares during the quarter. GAMMA Investing LLC owned approximately 0.31% of American Express worth $581,914,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Capital & Planning LLC bought a new stake in American Express in the 4th quarter valued at about $213,000. Brighton Jones LLC boosted its holdings in shares of American Express by 24.4% in the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company's stock worth $1,924,000 after buying an additional 1,273 shares during the period. Strategic Blueprint LLC boosted its holdings in shares of American Express by 1.7% during the fourth quarter. Strategic Blueprint LLC now owns 2,935 shares of the payment services company's stock worth $871,000 after purchasing an additional 49 shares during the period. Foster & Motley Inc. boosted its holdings in shares of American Express by 2.1% during the fourth quarter. Foster & Motley Inc. now owns 1,716 shares of the payment services company's stock worth $509,000 after purchasing an additional 35 shares during the period. Finally, OLD National Bancorp IN lifted its stake in American Express by 0.6% in the fourth quarter. OLD National Bancorp IN now owns 6,119 shares of the payment services company's stock valued at $1,816,000 after acquiring an additional 36 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Price Performance

NYSE AXP traded up $2.28 during trading hours on Tuesday, hitting $297.61. The company had a trading volume of 2,194,738 shares, compared to its average volume of 2,840,163. The firm has a market capitalization of $208.50 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The firm has a 50 day simple moving average of $271.29 and a 200 day simple moving average of $288.79. 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 announced its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $17.04 billion. During the same period in the previous year, the business posted $3.33 EPS. Equities research analysts expect that American Express will post 15.33 earnings per share for the current year.

Insider Buying and Selling

In other American Express news, Director Michael J. Angelakis acquired 3,700 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the transaction, the director now directly owns 3,700 shares of the company's stock, valued at approximately $998,593. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the sale, the insider now directly owns 10,919 shares in the company, valued at $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. William Blair reaffirmed an "outperform" rating on shares of American Express in a research report on Monday, April 21st. Truist Financial upped their price target on American Express from $315.00 to $335.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Redburn Atlantic raised American Express from a "sell" rating to a "neutral" rating and cut their price objective for the company from $270.00 to $255.00 in a report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price objective on American Express from $244.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Finally, BTIG Research decreased their price target on American Express from $272.00 to $240.00 and set a "sell" rating on the stock in a research report on Monday, April 21st. One 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 data from MarketBeat.com, American Express currently has an average rating of "Hold" and a consensus target price of $296.05.

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.