Northside Capital Management LLC Acquires 1,930 Shares of American Express Company $AXP

Key Points

• Northside Capital Management LLC significantly increased its stake in American Express by 114.7% in the 2nd quarter, acquiring an additional 1,930 shares and now holding a total of 3,613 shares worth approximately $1,152,000.
• Insiders, including Glenda G. Mcneal, sold a total of 269,996 shares valued at about $85.26 million over the last 90 days, indicating a notable decrease in their ownership.
• American Express has received positive analyst ratings, with recommendations from Royal Bank Of Canada and Wells Fargo, and has a consensus target price of $315.20.

Northside Capital Management LLC grew its holdings in American Express Company (NYSE:AXP) by 114.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,613 shares of the payment services company's stock after acquiring an additional 1,930 shares during the quarter. Northside Capital Management LLC's holdings in American Express were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new position in American Express in the first quarter worth $29,000. Nexus Investment Management ULC bought a new position in American Express in the first quarter worth $34,000. Hughes Financial Services LLC bought a new position in American Express in the first quarter worth $35,000. 1 North Wealth Services LLC bought a new position in American Express in the first quarter worth $37,000. Finally, IAG Wealth Partners LLC bought a new position in American Express in the first quarter worth $40,000. 84.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AXP has been the subject of several research reports. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a research report on Monday, July 14th. Wells Fargo & Company raised their target price on American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. William Blair reiterated an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. Truist Financial increased their price objective on American Express from $348.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Finally, BTIG Research set a $277.00 price objective on American Express and gave the stock a "sell" rating in a research note on Monday, July 14th. Eight 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. Based on data from MarketBeat, American Express has an average rating of "Hold" and a consensus target price of $315.20.

Insiders Place Their Bets

In related news, insider Glenda G. Mcneal sold 50,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anna Marrs sold 5,500 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the transaction, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock valued at $85,261,270 over the last 90 days. Corporate insiders own 0.20% of the company's stock.

American Express Stock Performance

Shares of NYSE:AXP opened at $341.74 on Wednesday. American Express Company has a twelve month low of $220.43 and a twelve month high of $349.19. The firm has a market cap of $237.81 billion, a PE ratio of 23.98, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The business has a fifty day moving average of $315.72 and a 200-day moving average of $294.34.

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

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.

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express Company (NYSE:AXP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.