Northstar Advisory Group LLC Trims Position in American Express (NYSE:AXP)

Northstar Advisory Group LLC reduced its position in American Express (NYSE:AXP) by 14.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,805 shares of the payment services company’s stock after selling 1,527 shares during the period. American Express comprises approximately 1.5% of Northstar Advisory Group LLC’s holdings, making the stock its 22nd biggest holding. Northstar Advisory Group LLC’s holdings in American Express were worth $2,369,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in American Express in the 4th quarter worth about $1,785,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of American Express by 463.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company’s stock worth $1,293,259,000 after acquiring an additional 3,583,959 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of American Express by 27,625.2% in the first quarter. GAMMA Investing LLC now owns 2,162,846 shares of the payment services company’s stock worth $581,914,000 after acquiring an additional 2,155,045 shares during the last quarter. Capital Research Global Investors grew its holdings in American Express by 186.3% in the fourth quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company’s stock valued at $886,426,000 after purchasing an additional 1,943,463 shares during the period. Finally, Kovitz Investment Group Partners LLC increased its position in American Express by 346.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company’s stock worth $600,072,000 after purchasing an additional 1,568,747 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Trading Up 2.3%

NYSE AXP opened at $302.71 on Monday. The stock has a market cap of $212.08 billion, a P/E ratio of 21.61, a PEG ratio of 1.41 and a beta of 1.25. The company’s fifty day simple moving average is $273.60 and its 200-day simple moving average is $289.07. 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 has a 52 week low of $220.43 and a 52 week high of $326.28.

American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.17. The firm had revenue of $16.97 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $3.33 EPS. Equities research analysts predict that American Express will post 15.33 EPS for the current fiscal year.

Insider Transactions at American Express

In other American Express news, insider Howard Grosfield sold 9,450 shares of the stock in a transaction on Tuesday, May 6th. The shares were 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 $2,590,251. This represents a 50.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Glenda G. Mcneal sold 3,019 shares of the business’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the completion of the sale, the insider now directly owns 10,919 shares of the company’s stock, valued at $2,889,822.54. The trade was a 21.66% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. BTIG Research decreased their price target on shares of American Express from $272.00 to $240.00 and set a “sell” rating on the stock in a report on Monday, April 21st. The Goldman Sachs Group reduced their target price on 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 American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Bank of America upgraded American Express from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $325.00 to $274.00 in a report on Friday, April 11th. Finally, Truist Financial boosted their target price on American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, American Express presently has a consensus rating of “Hold” and a consensus price target 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.