Orrstown Financial Services Inc. Trims Stock Holdings in American Express (NYSE:AXP)

Orrstown Financial Services Inc. decreased its position in American Express (NYSE:AXP) by 5.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,902 shares of the payment services company’s stock after selling 256 shares during the period. Orrstown Financial Services Inc.’s holdings in American Express were worth $1,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in American Express by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 11,752,084 shares of the payment services company’s stock worth $3,484,312,000 after acquiring an additional 268,572 shares during the last quarter. Fisher Asset Management LLC grew its position in American Express by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company’s stock worth $2,600,277,000 after purchasing an additional 95,927 shares during the period. Northern Trust Corp grew its position in American Express by 16.3% during the 4th quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company’s stock worth $2,025,632,000 after purchasing an additional 955,811 shares during the period. Norges Bank acquired a new stake in American Express during the 4th quarter worth about $1,785,867,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in American Express by 8.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,015,269 shares of the payment services company’s stock worth $1,488,482,000 after purchasing an additional 408,283 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AXP shares. Redburn Atlantic raised American Express from a “sell” rating to a “neutral” rating and cut their price target for the stock from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Truist Financial increased their price target on American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Baird R W raised American Express from a “strong sell” rating to a “hold” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. increased their price target on American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Finally, BTIG Research dropped their target price on American Express from $272.00 to $240.00 and set a “sell” rating on the stock in a research report 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’s stock. Based on data from MarketBeat, American Express presently has a consensus rating of “Hold” and an average price target of $296.05.

American Express Trading Up 2.3%

Shares of American Express stock opened at $302.71 on Friday. The firm has a market capitalization of $212.08 billion, a PE ratio of 21.61, a P/E/G ratio of 1.41 and a beta of 1.25. American Express has a twelve month low of $220.43 and a twelve month high of $326.28. The firm’s 50-day moving average price is $273.60 and its 200 day moving average price is $289.10. 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 (NYSE:AXP) last issued its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.17. The firm had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. American Express had a net margin of 15.36% and a return on equity of 32.65%. During the same period last year, the company posted $3.33 EPS. On average, sell-side analysts predict that American Express will post 15.33 EPS for the current fiscal year.

Insider Transactions at American Express

In other news, insider Glenda G. Mcneal sold 3,019 shares of the business’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 transaction of $799,008.54. Following the transaction, the insider now directly owns 10,919 shares in the company, valued at $2,889,822.54. The trade was a 21.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the business’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 transaction, the insider now owns 9,402 shares in the company, valued at approximately $2,590,251. This 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.

American Express 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.