Defined Financial Planning LLC Acquires New Stake in American Express (NYSE:AXP)

Defined Financial Planning LLC bought a new position in shares of American Express (NYSE:AXP) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 798 shares of the payment services company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Boston Financial Mangement LLC raised its position in American Express by 0.9% in the 4th quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock valued at $1,189,000 after buying an additional 34 shares during the last quarter. Trillium Asset Management LLC raised its holdings in shares of American Express by 1.4% in the fourth quarter. Trillium Asset Management LLC now owns 2,449 shares of the payment services company’s stock valued at $727,000 after purchasing an additional 35 shares during the last quarter. Zions Bancorporation N.A. boosted its holdings in American Express by 2.4% during the fourth quarter. Zions Bancorporation N.A. now owns 1,510 shares of the payment services company’s stock worth $448,000 after purchasing an additional 35 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in American Express by 2.8% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,317 shares of the payment services company’s stock valued at $391,000 after purchasing an additional 36 shares in the last quarter. Finally, Arista Wealth Management LLC lifted its position in American Express by 1.7% during the 4th quarter. Arista Wealth Management LLC now owns 2,275 shares of the payment services company’s stock worth $675,000 after buying an additional 37 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

AXP stock opened at $299.25 on Thursday. The company’s 50-day moving average price is $276.48 and its two-hundred day moving average price is $289.22. The firm has a market cap of $209.65 billion, a P/E ratio of 21.36, a P/E/G ratio of 1.41 and a beta of 1.25. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a 12 month low of $220.43 and a 12 month high of $326.28.

American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $17.04 billion. During the same period in the previous year, the business earned $3.33 earnings per share. On average, analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

Insider Transactions 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 sale, the insider now owns 9,402 shares in the company, valued at $2,590,251. This trade represents a 50.13% decrease in their ownership of the stock. 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 the company’s 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 transaction, the insider now owns 10,919 shares of the company’s stock, valued at $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.

Analyst Ratings Changes

A number of brokerages recently weighed in on AXP. The Goldman Sachs Group lowered their target price on shares of American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Baird R W upgraded shares of American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $310.00 target price on shares of American Express in a report on Monday, April 21st. Citigroup reduced their price target on American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Finally, Truist Financial raised their price objective on American Express from $315.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $296.05.

American Express Company 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.