Griffith & Werner Inc. Grows Stock Position in American Express (NYSE:AXP)

Griffith & Werner Inc. lifted its position in American Express (NYSE:AXP) by 13.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,028 shares of the payment services company’s stock after purchasing an additional 610 shares during the quarter. Griffith & Werner Inc.’s holdings in American Express were worth $1,353,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. acquired a new stake in American Express during the fourth quarter worth about $832,000. Keybank National Association OH grew its holdings in American Express by 3.7% during the fourth quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock worth $103,858,000 after acquiring an additional 12,364 shares during the period. Edge Capital Group LLC grew its holdings in American Express by 20.9% during the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock worth $1,915,000 after acquiring an additional 1,113 shares during the period. Game Plan Financial Advisors LLC grew its holdings in American Express by 17.5% during the fourth quarter. Game Plan Financial Advisors LLC now owns 18,982 shares of the payment services company’s stock worth $5,638,000 after acquiring an additional 2,826 shares during the period. Finally, NewEdge Wealth LLC grew its holdings in American Express by 6.0% during the fourth quarter. NewEdge Wealth LLC now owns 26,102 shares of the payment services company’s stock worth $7,747,000 after acquiring an additional 1,471 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Trading Up 2.3%

AXP opened at $302.71 on Friday. 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 $212.08 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.41 and a beta of 1.25. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The business has a fifty day moving average price of $273.60 and a 200 day moving average price of $289.10.

American Express (NYSE:AXP) last released its earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS 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 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 period in the previous year, the firm posted $3.33 EPS. Sell-side analysts expect that American Express will post 15.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on AXP shares. JPMorgan Chase & Co. raised their price objective on American Express from $244.00 to $260.00 and gave the company a “neutral” rating in a report on Monday, April 21st. Monness Crespi & Hardt raised their target price on American Express from $275.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, April 21st. Redburn Atlantic upgraded American Express from a “sell” rating to a “neutral” rating and decreased their target price for the company from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Argus downgraded American Express from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $310.00 target price on shares of American Express in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average price target of $296.05.

Insider Transactions at American Express

In related news, insider Glenda G. Mcneal sold 3,019 shares of the company’s stock in a transaction dated 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 directly owns 10,919 shares of the company’s stock, valued at $2,889,822.54. This represents a 21.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Howard Grosfield sold 9,450 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 9,402 shares of the company’s stock, valued at approximately $2,590,251. This trade represents a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.