NorthCrest Asset Manangement LLC Reduces Holdings in American Express Company $AXP

Key Points

• NorthCrest Asset Management LLC has reduced its stake in American Express by selling 1,692 shares, bringing its total holdings to 81,091 shares worth $26.6 million.
• CEO Stephen J. Squeri recently sold 112,272 shares of American Express at an average price of $329.86, decreasing his ownership by 54.74%.
• Analysts have varied opinions on American Express, with price targets ranging from $249 to $375, and a consensus rating of "Hold" with a target price of $315.20.

NorthCrest Asset Manangement LLC lowered its stake in shares of American Express Company (NYSE:AXP - Free Report) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,091 shares of the payment services company's stock after selling 1,692 shares during the period. NorthCrest Asset Manangement LLC's holdings in American Express were worth $26,608,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AXP. Capital Asset Advisory Services LLC boosted its position in American Express by 2.8% during the second quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company's stock worth $384,000 after acquiring an additional 32 shares during the last quarter. DLK Investment Management LLC boosted its position in American Express by 3.8% during the second quarter. DLK Investment Management LLC now owns 869 shares of the payment services company's stock worth $277,000 after acquiring an additional 32 shares during the last quarter. Financial Engines Advisors L.L.C. boosted its position in American Express by 4.7% during the first quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock worth $208,000 after acquiring an additional 35 shares during the last quarter. Modern Wealth Management LLC boosted its position in American Express by 0.7% during the first quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company's stock worth $1,324,000 after acquiring an additional 35 shares during the last quarter. Finally, Greenfield Savings Bank boosted its holdings in American Express by 0.3% in the 2nd quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company's stock valued at $4,184,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company's stock.

American Express Stock Performance

NYSE:AXP traded up $2.51 during trading hours on Monday, reaching $343.63. 1,236,767 shares of the company's stock were exchanged, compared to its average volume of 2,898,986. American Express Company has a 1-year low of $220.43 and a 1-year high of $345.51. The firm has a market capitalization of $239.12 billion, a price-to-earnings ratio of 24.12, a P/E/G ratio of 1.81 and a beta of 1.28. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The company has a 50-day moving average of $314.68 and a 200 day moving average of $293.53.

American Express (NYSE:AXP - Get Free Report) last released its earnings results 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. American Express had a net margin of 14.78% and a return on equity of 32.87%. The company had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. During the same quarter last year, the business earned $3.49 EPS. The business's revenue was up 9.3% on a year-over-year basis. Research analysts anticipate that American Express Company will post 15.33 EPS for the current year.

Insiders Place Their Bets

In other news, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the transaction, the insider owned 10,957 shares in the company, valued at $3,391,191.50. This trade represents a 82.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Laureen Seeger sold 61,721 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the completion of the transaction, the insider owned 9,001 shares of the company's stock, valued at $2,677,527.47. This represents a 87.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,996 shares of company stock worth $85,261,270. Insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

AXP has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of American Express from $350.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Truist Financial boosted their target price on shares of American Express from $348.00 to $375.00 and gave the company a "buy" rating in a report on Monday, September 15th. Barclays boosted their target price on shares of American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. DZ Bank lowered shares of American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. Finally, Morgan Stanley upped their price objective on shares of American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $315.20.

American Express 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.