American Express (NYSE:AXP) Position Increased by Opal Wealth Advisors LLC

Opal Wealth Advisors LLC raised its stake in shares of American Express (NYSE:AXP) by 14.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,442 shares of the payment services company’s stock after buying an additional 300 shares during the period. Opal Wealth Advisors LLC’s holdings in American Express were worth $657,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. IAG Wealth Partners LLC bought a new position in American Express during the first quarter valued at about $40,000. Farmers & Merchants Investments Inc. raised its holdings in American Express by 19.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 1,059 shares of the payment services company’s stock valued at $285,000 after buying an additional 169 shares in the last quarter. BNC Wealth Management LLC raised its holdings in American Express by 1.1% during the first quarter. BNC Wealth Management LLC now owns 15,066 shares of the payment services company’s stock valued at $4,054,000 after buying an additional 162 shares in the last quarter. BigSur Wealth Management LLC raised its holdings in American Express by 1.1% during the first quarter. BigSur Wealth Management LLC now owns 4,655 shares of the payment services company’s stock valued at $1,252,000 after buying an additional 52 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. raised its holdings in American Express by 1.9% during the first quarter. Ipswich Investment Management Co. Inc. now owns 4,091 shares of the payment services company’s stock valued at $1,101,000 after buying an additional 75 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Down 3.5%

AXP stock opened at $287.62 on Friday. American Express has a twelve month low of $220.43 and a twelve month high of $326.28. The company has a market cap of $201.50 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. The business’s 50-day simple moving average is $278.89 and its 200 day simple moving average is $289.04. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last released its quarterly earnings data 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 company had revenue of $16.97 billion for the quarter, compared to the consensus estimate 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 business earned $3.33 earnings per share. On average, research analysts anticipate that American Express will post 15.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AXP shares. Redburn Atlantic upgraded American Express from a “sell” rating to a “neutral” rating and cut their target price for the company from $270.00 to $255.00 in a report on Wednesday, April 23rd. BTIG Research cut their target price on American Express from $272.00 to $240.00 and set a “sell” rating on the stock in a report on Monday, April 21st. Baird R W upgraded American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $310.00 price objective on shares of American Express in a research note on Monday, April 21st. Finally, Monness Crespi & Hardt lifted their price objective on American Express from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 21st. One 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.com, the stock has an average rating of “Hold” and an average 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 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 sale, the insider now directly owns 10,919 shares of the company’s stock, valued at approximately $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction that occurred on 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 sale, the insider now directly owns 9,402 shares in the company, valued at $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

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.