Tealwood Asset Management Inc. Makes New $2.29 Million Investment in American Express (NYSE:AXP)

Tealwood Asset Management Inc. purchased a new position in shares of American Express (NYSE:AXP) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,525 shares of the payment services company’s stock, valued at approximately $2,294,000.

A number of other hedge funds also recently modified their holdings of the business. Capital & Planning LLC acquired a new stake in American Express in the 4th quarter valued at approximately $213,000. Brighton Jones LLC boosted its stake in American Express by 24.4% in the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock valued at $1,924,000 after purchasing an additional 1,273 shares during the period. Silver Oak Securities Incorporated boosted its stake in American Express by 2.5% in the 4th quarter. Silver Oak Securities Incorporated now owns 1,424 shares of the payment services company’s stock valued at $423,000 after purchasing an additional 35 shares during the period. Leo Wealth LLC grew its holdings in shares of American Express by 80.3% during the 4th quarter. Leo Wealth LLC now owns 5,860 shares of the payment services company’s stock worth $1,739,000 after purchasing an additional 2,609 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of American Express during the 4th quarter worth $40,920,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insiders Place Their Bets

In other American Express news, insider Howard Grosfield sold 9,450 shares of the company’s 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 10,919 shares of the company’s stock, valued at approximately $2,889,822.54. This represents 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 currently owned by company insiders.

American Express Stock Performance

NYSE:AXP opened at $302.71 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The company has a fifty day simple moving average of $273.60 and a two-hundred day simple moving average of $289.09. The company has a market cap of $212.08 billion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth 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.

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AXP shares. BTIG Research dropped their price objective on American Express from $272.00 to $240.00 and set a “sell” rating for the company in a research report on Monday, April 21st. Monness Crespi & Hardt raised their price objective on American Express from $275.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, April 21st. Argus lowered American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. JPMorgan Chase & Co. lifted their price target on American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Finally, The Goldman Sachs Group lowered their target price on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.