Curat Global LLC Makes New Investment in American Express (NYSE:AXP)

Curat Global LLC purchased a new position in shares of American Express (NYSE:AXP) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,075 shares of the payment services company’s stock, valued at approximately $827,000. American Express comprises 1.0% of Curat Global LLC’s holdings, making the stock its 25th largest position.

Other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC lifted its holdings in shares of American Express by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock valued at $636,000 after purchasing an additional 33 shares during the last quarter. Boston Financial Mangement LLC lifted its holdings in shares of 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 purchasing an additional 34 shares during the last quarter. Silver Oak Securities Incorporated lifted its holdings in shares of American Express by 2.5% in the 4th quarter. Silver Oak Securities Incorporated now owns 1,424 shares of the payment services company’s stock valued at $423,000 after purchasing an additional 35 shares during the last quarter. Trillium Asset Management LLC lifted its holdings in shares of American Express by 1.4% in the 4th 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. Finally, Zions Bancorporation N.A. lifted its holdings in shares of American Express by 2.4% in the 4th quarter. Zions Bancorporation N.A. now owns 1,510 shares of the payment services company’s stock valued at $448,000 after purchasing an additional 35 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Howard Grosfield sold 9,450 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was 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 represents a 50.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the completion of the sale, the insider now owns 10,919 shares in the company, valued at approximately $2,889,822.54. This represents a 21.66% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

American Express Stock Performance

NYSE AXP opened at $295.89 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The business’s 50 day moving average is $272.96 and its two-hundred day moving average is $288.97. American Express has a 12-month low of $220.43 and a 12-month high of $326.28. The stock has a market capitalization of $207.30 billion, a price-to-earnings ratio of 21.12, a PEG 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 analysts’ consensus estimates of $3.47 by $0.17. The business had revenue of $16.97 billion for the quarter, compared to analysts’ expectations of $17.04 billion. American Express had a return on equity of 32.65% and a net margin of 15.36%. During the same quarter in the prior year, the firm posted $3.33 EPS. Research analysts expect that American Express will post 15.33 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on AXP shares. Argus downgraded American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. Baird R W raised American Express from a “strong sell” rating to a “hold” rating in a report on Friday, March 14th. Citigroup reduced their price objective on American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. BTIG Research reduced their price objective on American Express from $272.00 to $240.00 and set a “sell” rating for the company in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. upped their price objective on American Express from $244.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, April 21st. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.