American Express Company $AXP Position Decreased by Matthew Goff Investment Advisor LLC

Key Points

• Matthew Goff Investment Advisor LLC reduced its holdings in American Express by 1.9%, owning 53,908 shares valued at approximately $17.20 million, making it the 9th largest position in their portfolio.
• Multiple institutional investors have increased their stakes in American Express, with notable purchases including Nuveen LLC's new stake of $1.45 billion and Wellington Management's 13.7% increase during the first quarter.
• American Express reported strong quarterly earnings, with an EPS of $4.08, surpassing estimates and reflecting a 9.3% revenue increase year-over-year, leading to favorable analyst ratings and increased price targets.

Matthew Goff Investment Advisor LLC trimmed its position in shares of American Express Company (NYSE:AXP - Free Report) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,908 shares of the payment services company's stock after selling 1,035 shares during the quarter. American Express makes up about 3.2% of Matthew Goff Investment Advisor LLC's investment portfolio, making the stock its 9th biggest position. Matthew Goff Investment Advisor LLC's holdings in American Express were worth $17,196,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Investment Management Corp VA ADV bought a new stake in shares of American Express during the fourth quarter worth $29,000. MorganRosel Wealth Management LLC purchased a new position in shares of American Express in the 1st quarter valued at approximately $29,000. Nexus Investment Management ULC acquired a new position in shares of American Express in the first quarter worth $34,000. Hughes Financial Services LLC purchased a new stake in shares of American Express in the first quarter worth about $35,000. Finally, 1 North Wealth Services LLC acquired a new stake in American Express during the first quarter valued at approximately $37,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AXP shares. Deutsche Bank Aktiengesellschaft raised their price objective on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Royal Bank Of Canada reiterated an "outperform" rating on shares of American Express in a report on Monday, July 14th. Citigroup restated a "neutral" rating and issued a $327.00 price target (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. William Blair reissued an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Finally, DZ Bank downgraded American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $315.20.

Insider Buying and Selling

In related news, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the completion of the transaction, the chief executive officer directly owned 92,810 shares in the company, valued at approximately $30,614,306.60. This trade represents a 54.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laureen Seeger sold 16,998 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total value of $5,011,520.34. Following the completion of the sale, the insider owned 9,001 shares of the company's stock, valued at $2,653,764.83. This trade represents a 65.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is owned by company insiders.

American Express Price Performance

AXP traded down $1.26 during midday trading on Friday, hitting $340.41. 8,629,534 shares of the company traded hands, compared to its average volume of 2,346,006. American Express Company has a 52-week low of $220.43 and a 52-week high of $344.36. The company has a market capitalization of $236.88 billion, a price-to-earnings ratio of 23.89, a PEG ratio of 1.81 and a beta of 1.28. The business has a 50 day simple moving average of $314.68 and a two-hundred day simple moving average of $293.40. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.86 by $0.22. The business had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.49 EPS. On average, equities analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

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.