Handelsbanken Fonder AB Has $58.79 Million Stake in American Express (NYSE:AXP)

Handelsbanken Fonder AB trimmed its holdings in American Express (NYSE:AXP - Free Report) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 218,523 shares of the payment services company's stock after selling 4,021 shares during the period. Handelsbanken Fonder AB's holdings in American Express were worth $58,794,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AXP. Capital & Planning LLC bought a new position in American Express during the fourth quarter worth $213,000. Brighton Jones LLC increased its stake in shares of American Express by 24.4% during the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company's stock worth $1,924,000 after purchasing an additional 1,273 shares during the period. Empowered Funds LLC lifted its holdings in American Express by 157.3% during the 4th quarter. Empowered Funds LLC now owns 36,765 shares of the payment services company's stock worth $10,911,000 after purchasing an additional 22,474 shares during the last quarter. Wealthstar Advisors LLC bought a new stake in American Express in the 4th quarter valued at $309,000. Finally, Angeles Wealth Management LLC grew its holdings in American Express by 5.4% in the 4th quarter. Angeles Wealth Management LLC now owns 2,040 shares of the payment services company's stock valued at $605,000 after buying an additional 105 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AXP. JPMorgan Chase & Co. lifted their target price on American Express from $244.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Argus lowered American Express from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 14th. Redburn Atlantic upgraded American Express from a "sell" rating to a "neutral" rating and cut their target price for the company from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Bank of America upgraded American Express from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $325.00 to $274.00 in a research report on Friday, April 11th. Finally, Baird R W raised American Express from a "strong sell" rating to a "hold" rating in a research note on Friday, March 14th. One equities 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $296.05.

American Express Trading Down 0.7%

American Express stock traded down $1.98 during trading hours on Tuesday, hitting $299.58. The stock had a trading volume of 2,045,257 shares, compared to its average volume of 2,827,203. The business's 50 day simple moving average is $274.12 and its 200-day simple moving average is $289.07. American Express has a one year low of $220.43 and a one year high of $326.28. The stock has a market cap of $209.88 billion, a price-to-earnings ratio of 21.38, a P/E/G ratio of 1.41 and a beta of 1.25. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) 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 company had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. During the same quarter in the prior year, the firm posted $3.33 earnings per share. On average, equities analysts predict that American Express will post 15.33 EPS for the current fiscal year.

Insider Activity

In other news, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction dated 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 sale, the insider now owns 10,919 shares of the company's stock, valued at approximately $2,889,822.54. This represents a 21.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

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.