Secure Asset Management LLC Increases Position in American Express (NYSE:AXP)

Secure Asset Management LLC increased its stake in shares of American Express (NYSE:AXP) by 23.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,239 shares of the payment services company’s stock after buying an additional 232 shares during the quarter. Secure Asset Management LLC’s holdings in American Express were worth $333,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in AXP. Capital & Planning LLC purchased a new stake in shares of American Express during the fourth quarter valued at $213,000. Brighton Jones LLC raised its position in American Express by 24.4% during the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after buying an additional 1,273 shares during the last quarter. Spire Wealth Management raised its position in American Express by 7.3% during the 4th quarter. Spire Wealth Management now owns 3,561 shares of the payment services company’s stock worth $1,057,000 after buying an additional 241 shares during the last quarter. Avitas Wealth Management LLC raised its position in American Express by 0.7% during the 4th quarter. Avitas Wealth Management LLC now owns 28,283 shares of the payment services company’s stock worth $8,394,000 after buying an additional 207 shares during the last quarter. Finally, Sargent Investment Group LLC boosted its holdings in American Express by 19.3% in the fourth quarter. Sargent Investment Group LLC now owns 11,755 shares of the payment services company’s stock valued at $3,491,000 after purchasing an additional 1,903 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on AXP shares. William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Monday, April 21st. Citigroup lowered their price target on shares of American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Truist Financial upped their price target on shares of American Express from $315.00 to $335.00 and gave the company a “buy” rating in a report on Friday, May 23rd. Redburn Atlantic raised shares of American Express from a “sell” rating to a “neutral” rating and lowered their price target for the company from $270.00 to $255.00 in a report on Wednesday, April 23rd. Finally, Monness Crespi & Hardt upped their price target on shares of American Express from $275.00 to $285.00 and gave the company a “buy” rating in a report on Monday, April 21st. One 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 currently has an average rating of “Hold” and a consensus price target of $296.05.

American Express Stock Down 0.4%

AXP opened at $296.19 on Thursday. American Express has a twelve month low of $220.43 and a twelve month high of $326.28. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The company has a 50-day moving average price of $272.42 and a 200 day moving average price of $288.90. The company has a market cap of $207.51 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25.

American Express (NYSE:AXP) last released its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.17. The firm had revenue of $16.97 billion during 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 prior year, the firm earned $3.33 EPS. Sell-side analysts expect that American Express will post 15.33 earnings per share for the current fiscal year.

Insider Buying and Selling at American Express

In other American Express news, Director Michael J. Angelakis acquired 3,700 shares of the business’s stock in a transaction on Friday, March 7th. The stock was bought at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now owns 3,700 shares in the company, valued at approximately $998,593. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Howard Grosfield sold 9,450 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 9,402 shares of the company’s stock, valued at approximately $2,590,251. The trade was a 50.13% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

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.