Zhang Financial LLC Has $3.23 Million Holdings in American Express (NYSE:AXP)

Zhang Financial LLC lifted its holdings in shares of American Express (NYSE:AXP) by 27.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,998 shares of the payment services company’s stock after buying an additional 2,552 shares during the period. Zhang Financial LLC’s holdings in American Express were worth $3,228,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Keybank National Association OH boosted its stake in shares of American Express by 3.7% during the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock worth $103,858,000 after buying an additional 12,364 shares during the last quarter. Edge Capital Group LLC boosted its stake in shares of American Express by 20.9% during the 4th quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock worth $1,915,000 after buying an additional 1,113 shares during the last quarter. Game Plan Financial Advisors LLC boosted its stake in shares of American Express by 17.5% during the 4th quarter. Game Plan Financial Advisors LLC now owns 18,982 shares of the payment services company’s stock worth $5,638,000 after buying an additional 2,826 shares during the last quarter. NewEdge Wealth LLC boosted its stake in shares of American Express by 6.0% during the 4th quarter. NewEdge Wealth LLC now owns 26,102 shares of the payment services company’s stock worth $7,747,000 after buying an additional 1,471 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of American Express by 11.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 50,009 shares of the payment services company’s stock worth $14,842,000 after buying an additional 4,959 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Down 0.1%

American Express 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. American Express has a twelve month low of $220.43 and a twelve month high of $326.28. The stock 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 (NYSE:AXP) last announced its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. During the same quarter in the prior year, the business posted $3.33 EPS. As a group, analysts expect that American Express will post 15.33 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on AXP. Redburn Atlantic upgraded shares of American Express from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $270.00 to $255.00 in a research note on Wednesday, April 23rd. 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. Monness Crespi & Hardt raised their target price on shares of American Express from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 21st. Citigroup cut 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 note on Monday, March 24th. Finally, William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $296.05.

Insiders Place Their Bets

In other American Express news, insider Howard Grosfield sold 9,450 shares of the stock in a transaction that occurred 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 owns 9,402 shares in the company, valued at $2,590,251. This represents a 50.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $2,889,822.54. The trade was a 21.66% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

About American Express

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.