Thomasville National Bank Sells 60,251 Shares of American Express (NYSE:AXP)

Thomasville National Bank reduced its holdings in shares of American Express (NYSE:AXP - Free Report) by 56.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,114 shares of the payment services company's stock after selling 60,251 shares during the period. Thomasville National Bank's holdings in American Express were worth $12,676,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Capital & Planning LLC acquired a new position in shares of American Express during the fourth quarter worth approximately $213,000. Brighton Jones LLC increased its stake in American Express by 24.4% in the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company's stock valued at $1,924,000 after purchasing an additional 1,273 shares in the last quarter. Sovran Advisors LLC bought a new stake in American Express in the fourth quarter valued at approximately $348,000. Portfolio Design Labs LLC bought a new stake in American Express in the fourth quarter valued at approximately $221,000. Finally, Leavell Investment Management Inc. increased its position in shares of American Express by 5.2% during the fourth quarter. Leavell Investment Management Inc. now owns 5,943 shares of the payment services company's stock worth $1,764,000 after acquiring an additional 295 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were 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 of the company's stock, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the transaction, the insider now directly owns 9,402 shares in the company, valued at approximately $2,590,251. This represents a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

AXP has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of American Express from $244.00 to $260.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. Citigroup lowered their price objective on shares of American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. BTIG Research lowered their price objective on shares of American Express from $272.00 to $240.00 and set a "sell" rating for the company in a research report on Monday, April 21st. Argus downgraded shares of American Express from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 14th. Finally, Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $270.00 to $255.00 in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $296.05.

American Express Stock Performance

AXP stock traded down $10.37 during trading hours on Friday, reaching $287.62. The stock had a trading volume of 3,405,421 shares, compared to its average volume of 2,819,585. The stock has a market capitalization of $201.50 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The stock has a 50-day simple moving average of $278.89 and a 200 day simple moving average of $288.94. American Express has a fifty-two week low of $220.43 and a fifty-two week high of $326.28.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating 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 net margin of 15.36% and a return on equity of 32.65%. During the same quarter last year, the company posted $3.33 earnings per share. Analysts predict that American Express 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.