Net Worth Advisory Group Acquires New Stake in American Express (NYSE:AXP)

Net Worth Advisory Group purchased a new stake in American Express (NYSE:AXP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,192 shares of the payment services company's stock, valued at approximately $590,000.

A number of other hedge funds have also made changes to their positions in AXP. Investment Management Corp VA ADV bought a new stake in American Express in the fourth quarter worth about $29,000. Sellwood Investment Partners LLC acquired a new stake in American Express in the 4th quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp acquired a new position 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 $37,000. Finally, Nexus Investment Management ULC bought a new stake in American Express in the first quarter valued at $34,000. Institutional investors and hedge funds own 84.33% of the company's stock.

Insider Activity

In related 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 transaction, the insider now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Howard Grosfield sold 9,450 shares of the stock in a transaction 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 owns 9,402 shares in the company, valued at $2,590,251. The trade was 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 currently owned by corporate insiders.

Analysts Set New Price Targets

AXP has been the subject of several analyst reports. Redburn Atlantic upgraded American Express from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Bank of America upgraded American Express from a "neutral" rating to a "buy" rating and dropped their price target for the company from $325.00 to $274.00 in a research note on Friday, April 11th. Royal Bank of Canada reiterated an "outperform" rating and set a $310.00 price objective on shares of American Express in a research report on Monday, April 21st. Truist Financial raised their price objective on American Express from $315.00 to $335.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, Citigroup cut their price target on American Express from $320.00 to $300.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $296.05.

American Express Trading Down 3.5%

Shares of AXP stock traded down $10.37 during trading hours on Friday, hitting $287.62. 3,405,421 shares of the company were exchanged, compared to its average volume of 2,819,585. The firm has a fifty day moving average of $278.89 and a 200 day moving average of $288.94. The firm has a market cap of $201.50 billion, a PE ratio of 20.53, a PEG ratio of 1.41 and a beta of 1.25. American Express has a 1 year low of $220.43 and a 1 year 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.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $16.97 billion for the quarter, compared to analysts' expectations of $17.04 billion. American Express had a return on equity of 32.65% and a net margin of 15.36%. During the same period last year, the business posted $3.33 earnings per share. Analysts expect that American Express will post 15.33 earnings per share for the current 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.