Sagespring Wealth Partners LLC Buys 2,905 Shares of American Express (NYSE:AXP)

Sagespring Wealth Partners LLC raised its stake in shares of American Express (NYSE:AXP) by 21.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 16,265 shares of the payment services company's stock after purchasing an additional 2,905 shares during the period. Sagespring Wealth Partners LLC's holdings in American Express were worth $4,376,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Investment Management Corp VA ADV bought a new position in American Express during the fourth quarter valued at approximately $29,000. Sellwood Investment Partners LLC bought a new stake in shares of American Express in the 4th quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of American Express in the 4th quarter valued at approximately $33,000. Curio Wealth LLC bought a new stake in shares of American Express in the 4th quarter valued at approximately $37,000. Finally, Nexus Investment Management ULC bought a new stake in shares of American Express in the 1st quarter valued at approximately $34,000. Institutional investors own 84.33% of the company's stock.

Insider Transactions at American Express

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

American Express Trading Down 3.5%

Shares of NYSE:AXP opened at $287.62 on Monday. American Express has a 12-month low of $220.43 and a 12-month high of $326.28. The business's fifty day simple moving average is $278.89 and its 200-day simple moving average is $288.83. The company has a market capitalization of $201.50 billion, a PE ratio of 20.53, a P/E/G ratio of 1.41 and a beta of 1.25. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. The firm had revenue of $16.97 billion during 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 quarter last year, the firm earned $3.33 EPS. As a group, equities research analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Bank of America raised American Express from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $325.00 to $274.00 in a research note on Friday, April 11th. William Blair reaffirmed an "outperform" rating on shares of American Express in a research note on Monday, April 21st. Argus lowered American Express from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 14th. Redburn Atlantic upgraded American Express from a "sell" rating to a "neutral" rating and reduced their price target for the stock from $270.00 to $255.00 in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reduced their price target on American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $296.05.

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.

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