Narwhal Capital Management Has $13.58 Million Position in American Express Company (NYSE:AXP)

Narwhal Capital Management raised its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,458 shares of the payment services company's stock after purchasing an additional 891 shares during the quarter. American Express makes up 1.2% of Narwhal Capital Management's holdings, making the stock its 22nd biggest position. Narwhal Capital Management's holdings in American Express were worth $13,576,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new stake in shares of American Express during the 4th quarter worth about $29,000. Sellwood Investment Partners LLC acquired a new stake in American Express during the fourth quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of American Express during the fourth quarter worth approximately $33,000. Curio Wealth LLC acquired a new position in shares of American Express in the fourth quarter valued at approximately $37,000. Finally, Nexus Investment Management ULC bought a new position in shares of American Express during the first quarter worth approximately $34,000. 84.33% of the stock is owned by institutional investors.

Insider Transactions at American Express

In other news, insider Glenda G. Mcneal sold 3,019 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the sale, the insider now directly owns 10,919 shares in the company, valued at approximately $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Howard Grosfield sold 9,450 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the transaction, the insider now directly owns 9,402 shares of the company's stock, valued at $2,590,251. This represents a 50.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

American Express Stock Up 0.7%

Shares of AXP opened at $298.50 on Monday. The firm has a 50 day simple moving average of $283.36 and a two-hundred day simple moving average of $288.59. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. American Express Company has a one year low of $220.43 and a one year high of $326.28. The company has a market cap of $209.13 billion, a P/E ratio of 20.84, a P/E/G ratio of 1.45 and a beta of 1.25.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly 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 return on equity of 32.48% and a net margin of 15.31%. The company had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. During the same quarter last year, the company posted $3.33 EPS. Research analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.10%. The ex-dividend date is Thursday, July 3rd. American Express's payout ratio is 22.91%.

Analysts Set New Price Targets

Several analysts recently issued reports on AXP shares. Royal Bank Of Canada restated an "outperform" rating and issued a $310.00 price target on shares of American Express in a research note on Monday, April 21st. BTIG Research dropped their target price on American Express from $272.00 to $240.00 and set a "sell" rating for the company in a report on Monday, April 21st. Argus downgraded shares of American Express from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 14th. Truist Financial lifted their price objective on shares of American Express from $315.00 to $335.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Robert W. Baird raised shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price objective for the company in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, American Express currently has a consensus rating of "Hold" and a consensus target price of $296.05.

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.

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