KMG Fiduciary Partners LLC Has $8.39 Million Stock Position in American Express (NYSE:AXP)

KMG Fiduciary Partners LLC lowered its stake in American Express (NYSE:AXP - Free Report) by 3.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,167 shares of the payment services company's stock after selling 960 shares during the period. KMG Fiduciary Partners LLC's holdings in American Express were worth $8,386,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Investment Management Corp VA ADV acquired a new stake in shares of American Express in the 4th quarter valued at $29,000. Sellwood Investment Partners LLC acquired a new position in shares of American Express during the 4th quarter worth $33,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of American Express during the 4th quarter worth $33,000. Curio Wealth LLC acquired a new stake in American Express in the fourth quarter valued at about $37,000. Finally, Nexus Investment Management ULC bought a new position in American Express in the first quarter valued at about $34,000. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Trading Down 0.3%

Shares of NYSE AXP traded down $0.86 during midday trading on Monday, reaching $301.61. The stock had a trading volume of 2,097,681 shares, compared to its average volume of 2,830,330. The company's 50 day moving average price is $273.60 and its 200 day moving average price is $289.07. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express has a twelve month low of $220.43 and a twelve month high of $326.28. The firm has a market cap of $211.30 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25.

American Express (NYSE:AXP - Get Free Report) last released its earnings results 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 net margin of 15.36% and a return on equity of 32.65%. The business had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. During the same quarter in the previous year, the business earned $3.33 earnings per share. As a group, sell-side analysts expect that American Express will post 15.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird upgraded shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price target on the stock in a research note on Friday, March 14th. Bank of America upgraded shares of American Express from a "neutral" rating to a "buy" rating and cut their target price for the company from $325.00 to $274.00 in a research report on Friday, April 11th. JPMorgan Chase & Co. upped their price target on shares of American Express from $244.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. BTIG Research cut their price objective on American Express from $272.00 to $240.00 and set a "sell" rating on the stock in a report on Monday, April 21st. Finally, William Blair reaffirmed an "outperform" rating on shares of American Express in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, American Express presently has an average rating of "Hold" and an average price target of $296.05.

Insider Activity

In other American Express news, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 9,402 shares in the company, valued at approximately $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the 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 ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

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.