Chris Bulman Inc Sells 68 Shares of American Express (NYSE:AXP)

Chris Bulman Inc reduced its position in American Express (NYSE:AXP) by 8.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 750 shares of the payment services company’s stock after selling 68 shares during the quarter. Chris Bulman Inc’s holdings in American Express were worth $202,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Keybank National Association OH lifted its stake in shares of American Express by 3.7% in the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock valued at $103,858,000 after purchasing an additional 12,364 shares during the period. Edge Capital Group LLC lifted its stake in American Express by 20.9% in the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock valued at $1,915,000 after buying an additional 1,113 shares during the period. Game Plan Financial Advisors LLC boosted its holdings 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 in the last quarter. NewEdge Wealth LLC grew its position 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 period. Finally, Oppenheimer & Co. Inc. increased its stake in shares of American Express by 11.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 50,009 shares of the payment services company’s stock valued at $14,842,000 after acquiring an additional 4,959 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Express

In other news, insider Glenda G. Mcneal sold 3,019 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Howard Grosfield sold 9,450 shares of the stock in a transaction 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 completion of the sale, the insider now owns 9,402 shares in the company, valued at $2,590,251. This trade represents a 50.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of research analyst reports. Robert W. Baird raised American Express from an “underperform” rating to a “neutral” rating and set a $265.00 target price for the company in a research report on Friday, March 14th. Baird R W upgraded American Express from a “strong sell” rating to a “hold” rating in a report on Friday, March 14th. Monness Crespi & Hardt upped their target price on American Express from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, April 21st. BTIG Research reduced their price objective on shares of American Express from $272.00 to $240.00 and set a “sell” rating for the company in a report on Monday, April 21st. Finally, Truist Financial upped their target price on shares of American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. One equities 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $296.05.

American Express Stock Performance

Shares of AXP stock opened at $299.58 on Wednesday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The firm has a market cap of $209.88 billion, a price-to-earnings ratio of 21.38, a P/E/G ratio of 1.41 and a beta of 1.25. American Express has a 52 week low of $220.43 and a 52 week high of $326.28. The firm’s 50-day simple moving average is $275.16 and its two-hundred day simple moving average is $289.15.

American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 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 company had revenue of $16.97 billion for the quarter, compared to analysts’ expectations of $17.04 billion. During the same quarter in the previous year, the firm posted $3.33 EPS. As a group, equities analysts forecast that American Express will post 15.33 earnings per share for the current year.

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.