Trust Point Inc. Decreases Holdings in American Express (NYSE:AXP)

Trust Point Inc. trimmed its stake in shares of American Express (NYSE:AXP) by 17.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,612 shares of the payment services company's stock after selling 943 shares during the period. Trust Point Inc.'s holdings in American Express were worth $1,241,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Investment Management Corp VA ADV purchased a new position in American Express during the fourth quarter valued at $29,000. Sellwood Investment Partners LLC acquired a new stake in shares of American Express in the fourth quarter valued at about $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of American Express in the fourth quarter valued at about $33,000. Curio Wealth LLC acquired a new stake in shares of American Express in the fourth quarter valued at about $37,000. Finally, Nexus Investment Management ULC acquired a new stake in shares of American Express in the first quarter valued at about $34,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $310.00 target price on shares of American Express in a research report on Monday, April 21st. Citigroup reduced their target price 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. William Blair reiterated an "outperform" rating on shares of American Express in a research report on Monday, April 21st. Baird R W upgraded shares of American Express from a "strong sell" rating to a "hold" rating in a research report on Friday, March 14th. Finally, The Goldman Sachs Group reduced their target price on shares of American Express from $367.00 to $330.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Express has a consensus rating of "Hold" and an average target price of $296.05.

Insider Activity at American Express

In other American Express news, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $2,590,251. This trade represents a 50.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction 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 trade represents a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

American Express Price Performance

Shares of AXP opened at $287.62 on Monday. American Express has a 1-year low of $220.43 and a 1-year high of $326.28. The stock has a market cap 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 firm has a 50-day simple moving average of $278.89 and a two-hundred day simple moving average of $288.83. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The business had revenue of $16.97 billion during the quarter, compared to analysts' expectations of $17.04 billion. During the same period last year, the business earned $3.33 earnings per share. As a group, analysts forecast that American Express will post 15.33 EPS for the current 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.

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