Herbst Group LLC Sells 944 Shares of American Express (NYSE:AXP)

Herbst Group LLC lessened its stake in shares of American Express (NYSE:AXP - Free Report) by 7.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,192 shares of the payment services company's stock after selling 944 shares during the quarter. American Express accounts for about 2.1% of Herbst Group LLC's investment portfolio, making the stock its 23rd largest position. Herbst Group LLC's holdings in American Express were worth $3,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Curat Global LLC bought a new position in shares of American Express during the 1st quarter worth approximately $827,000. Foster Group Inc. lifted its position in shares of American Express by 1.1% during the 1st quarter. Foster Group Inc. now owns 26,134 shares of the payment services company's stock worth $7,031,000 after buying an additional 293 shares during the period. Vest Financial LLC lifted its position in shares of American Express by 28.0% during the 1st quarter. Vest Financial LLC now owns 142,842 shares of the payment services company's stock worth $38,432,000 after buying an additional 31,266 shares during the period. Annex Advisory Services LLC increased its holdings in American Express by 20.0% during the 1st quarter. Annex Advisory Services LLC now owns 1,860 shares of the payment services company's stock valued at $500,000 after purchasing an additional 310 shares in the last quarter. Finally, Retirement Planning Group LLC increased its holdings in American Express by 16.8% during the 1st quarter. Retirement Planning Group LLC now owns 1,648 shares of the payment services company's stock valued at $443,000 after purchasing an additional 237 shares in the last quarter. Institutional investors own 84.33% of the company's stock.

American Express Trading Up 2.3%

Shares of NYSE:AXP traded up $6.75 during midday trading on Friday, hitting $302.71. The company had a trading volume of 2,098,953 shares, compared to its average volume of 2,830,785. American Express has a 12 month low of $220.43 and a 12 month 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 $212.08 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.41 and a beta of 1.25. The firm has a fifty day simple moving average of $272.96 and a 200 day simple moving average of $288.97.

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. 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 for the quarter, compared to analyst estimates of $17.04 billion. During the same period last year, the company earned $3.33 EPS. On average, analysts predict that American Express will post 15.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AXP. Truist Financial raised their price target on American Express from $315.00 to $335.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Monness Crespi & Hardt raised their price target on American Express from $275.00 to $285.00 and gave the company a "buy" rating in a report on Monday, April 21st. Baird R W raised American Express from a "strong sell" rating to a "hold" rating in a report on Friday, March 14th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $310.00 price target on shares of American Express in a report on Monday, April 21st. Finally, Argus cut American Express from a "strong-buy" rating to a "hold" rating in a report on Friday, March 14th. One 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's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $296.05.

Insider Transactions at American Express

In other news, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction 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 directly owns 10,919 shares in the company, valued at $2,889,822.54. This trade represents a 21.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Howard Grosfield sold 9,450 shares of American Express 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 in the company, valued at approximately $2,590,251. This represents a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

American Express 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.