Acropolis Investment Management LLC Cuts Position in American Express (NYSE:AXP)

Acropolis Investment Management LLC trimmed its position in American Express (NYSE:AXP) by 6.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,151 shares of the payment services company’s stock after selling 151 shares during the quarter. Acropolis Investment Management LLC’s holdings in American Express were worth $579,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Boston Financial Mangement LLC raised its holdings in American Express by 0.9% during the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock valued at $1,189,000 after buying an additional 34 shares in the last quarter. Trillium Asset Management LLC raised its holdings in American Express by 1.4% during the fourth quarter. Trillium Asset Management LLC now owns 2,449 shares of the payment services company’s stock valued at $727,000 after buying an additional 35 shares in the last quarter. Zions Bancorporation N.A. raised its holdings in American Express by 2.4% during the fourth quarter. Zions Bancorporation N.A. now owns 1,510 shares of the payment services company’s stock valued at $448,000 after buying an additional 35 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in American Express by 2.8% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,317 shares of the payment services company’s stock valued at $391,000 after buying an additional 36 shares in the last quarter. Finally, Arista Wealth Management LLC raised its holdings in American Express by 1.7% during the fourth quarter. Arista Wealth Management LLC now owns 2,275 shares of the payment services company’s stock valued at $675,000 after buying an additional 37 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Down 3.5%

NYSE AXP opened at $287.62 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The stock’s 50 day moving average is $278.89 and its two-hundred day moving average is $288.83. The company has a market capitalization of $201.50 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.41 and a beta of 1.25. American Express has a 1-year low of $220.43 and a 1-year high of $326.28.

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. Equities analysts forecast that American Express will post 15.33 earnings per share for the current fiscal year.

Insider Transactions at American Express

In other news, 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value 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 ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Argus lowered American Express from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 14th. Truist Financial lifted their price objective on American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, April 21st. Finally, 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. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $296.05.

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.