Miracle Mile Advisors LLC Sells 1,243 Shares of American Express (NYSE:AXP)

Miracle Mile Advisors LLC cut its stake in American Express (NYSE:AXP - Free Report) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,307 shares of the payment services company's stock after selling 1,243 shares during the period. Miracle Mile Advisors LLC's holdings in American Express were worth $8,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of American Express by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 11,752,084 shares of the payment services company's stock worth $3,484,312,000 after acquiring an additional 268,572 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of American Express by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company's stock worth $2,600,277,000 after buying an additional 95,927 shares during the period. Northern Trust Corp grew its position in shares of American Express by 16.3% during the 4th quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company's stock worth $2,025,632,000 after buying an additional 955,811 shares during the period. Norges Bank acquired a new stake in shares of American Express during the 4th quarter worth approximately $1,785,867,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of American Express by 8.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,015,269 shares of the payment services company's stock worth $1,488,482,000 after buying an additional 408,283 shares during the period. 84.33% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the completion of the transaction, the insider now owns 10,919 shares in the company, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the stock in a transaction 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 of the company's stock, valued at $2,590,251. The trade was a 50.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Monness Crespi & Hardt lifted their price target on shares of American Express from $275.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, April 21st. Baird R W upgraded shares of American Express from a "strong sell" rating to a "hold" rating in a research report on Friday, March 14th. Royal Bank of Canada reiterated an "outperform" rating and set a $310.00 price target on shares of American Express in a research report on Monday, April 21st. BTIG Research lowered their price target on shares of American Express from $272.00 to $240.00 and set a "sell" rating for the company in a research report on Monday, April 21st. Finally, Redburn Atlantic upgraded shares of American Express from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $270.00 to $255.00 in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, American Express has an average rating of "Hold" and an average price target of $296.05.

American Express Stock Up 2.3%

American Express stock opened at $302.71 on Friday. The stock has a market capitalization of $212.08 billion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. American Express has a twelve month low of $220.43 and a twelve month high of $326.28. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The company has a 50 day moving average of $273.60 and a 200-day moving average of $289.10.

American Express (NYSE:AXP - Get Free Report) last released its quarterly 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. The company had revenue of $16.97 billion during the quarter, compared to analysts' expectations of $17.04 billion. American Express had a net margin of 15.36% and a return on equity of 32.65%. During the same quarter in the prior year, the company earned $3.33 earnings per share. On average, equities research analysts anticipate that American Express will post 15.33 EPS for the current fiscal year.

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.

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