Griffin Asset Management Inc. Decreases Holdings in American Express (NYSE:AXP)

Griffin Asset Management Inc. lessened its holdings in American Express (NYSE:AXP - Free Report) by 15.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,110 shares of the payment services company's stock after selling 7,816 shares during the period. American Express makes up 1.4% of Griffin Asset Management Inc.'s investment portfolio, making the stock its 18th largest position. Griffin Asset Management Inc.'s holdings in American Express were worth $11,599,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Investment Management Corp VA ADV acquired a new stake in shares of American Express in the fourth quarter valued at $29,000. Sellwood Investment Partners LLC acquired a new stake in shares of American Express in the fourth quarter valued at $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of American Express in the fourth quarter valued at $33,000. Nexus Investment Management ULC acquired a new stake in shares of American Express in the first quarter valued at $34,000. Finally, Curio Wealth LLC acquired a new stake in shares of American Express in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Stock Performance

Shares of American Express stock traded down $10.37 on Friday, hitting $287.62. The stock had a trading volume of 3,405,421 shares, compared to its average volume of 2,819,585. American Express has a 52-week low of $220.43 and a 52-week high of $326.28. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The stock has a market cap of $201.50 billion, a price-to-earnings 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 200 day moving average price is $288.94.

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

Insider Activity at American Express

In other American Express news, insider Howard Grosfield sold 9,450 shares of the business's stock in a transaction that occurred 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. The trade was a 50.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of the business'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 transaction, the insider now 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. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AXP shares. JPMorgan Chase & Co. lifted their price objective on American Express from $244.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. Truist Financial lifted their target price on American Express from $315.00 to $335.00 and gave the company a "buy" rating in a report on Friday, May 23rd. William Blair reiterated an "outperform" rating on shares of American Express in a report on Monday, April 21st. Royal Bank of Canada reiterated an "outperform" rating and issued a $310.00 target price on shares of American Express in a report on Monday, April 21st. Finally, Bank of America upgraded American Express from a "neutral" rating to a "buy" rating and decreased their target price for the company from $325.00 to $274.00 in a report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, American Express currently has an average rating of "Hold" and an average price target of $296.05.

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.