Folger Nolan Fleming Douglas Capital Management Inc. Sells 710 Shares of American Express (NYSE:AXP)

Folger Nolan Fleming Douglas Capital Management Inc. lowered its position in American Express (NYSE:AXP) by 3.1% during the 1st quarter, Holdings Channel reports. The firm owned 22,209 shares of the payment services company’s stock after selling 710 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in American Express were worth $5,975,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Investment Management Corp VA ADV bought a new position in American Express in the fourth quarter worth approximately $29,000. Sellwood Investment Partners LLC bought a new position in American Express in the fourth quarter worth approximately $33,000. Murphy & Mullick Capital Management Corp bought a new position in American Express in the fourth quarter worth approximately $33,000. Nexus Investment Management ULC bought a new position in American Express in the first quarter worth approximately $34,000. Finally, Curio Wealth LLC bought a new position in American Express in the fourth quarter worth approximately $37,000. Institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the topic of several recent research reports. Bank of America raised American Express from a “neutral” rating to a “buy” rating and dropped their target price for the company from $325.00 to $274.00 in a research report on Friday, April 11th. 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. Citigroup dropped their target price on American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, April 21st. Finally, Robert W. Baird raised American Express from an “underperform” rating to a “neutral” rating and set a $265.00 target price on the stock in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus price target of $296.05.

Insider Buying and Selling at American Express

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction dated Tuesday, April 29th. The stock was 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 owns 10,919 shares in the company, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Howard Grosfield sold 9,450 shares of American Express 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 transaction, the insider now owns 9,402 shares of the company’s stock, valued at $2,590,251. The trade was a 50.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

American Express Stock Performance

Shares of AXP stock opened at $297.90 on Friday. The firm has a market capitalization of $208.71 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth 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 of $277.76 and a 200 day moving average of $289.17. American Express has a 1 year low of $220.43 and a 1 year high of $326.28.

American Express (NYSE:AXP) last issued its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.47 by $0.17. The company had revenue of $16.97 billion during the quarter, compared to analyst estimates 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 last year, the business posted $3.33 EPS. As a group, research analysts expect that American Express will post 15.33 earnings per share for the current year.

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.