Capital Asset Advisory Services LLC Sells 257 Shares of American Express (NYSE:AXP)

Capital Asset Advisory Services LLC lowered its holdings in shares of American Express (NYSE:AXP) by 18.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,159 shares of the payment services company’s stock after selling 257 shares during the period. Capital Asset Advisory Services LLC’s holdings in American Express were worth $319,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AXP. Investment Management Corp VA ADV acquired a new stake in American Express in the 4th quarter valued at $29,000. Sellwood Investment Partners LLC bought a new position in shares of American Express during the fourth quarter valued at $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of American Express in the 4th quarter valued at $33,000. Nexus Investment Management ULC bought a new stake in shares of American Express in the 1st quarter worth about $34,000. Finally, Curio Wealth LLC acquired a new stake in shares of American Express during the 4th quarter worth about $37,000. Institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AXP. Bank of America raised shares of American Express from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $325.00 to $274.00 in a research note on Friday, April 11th. Redburn Atlantic upgraded American Express from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Robert W. Baird raised American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price target for the company in a report on Friday, March 14th. Citigroup reduced 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. Finally, JPMorgan Chase & Co. increased their target price on American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, American Express presently has an average rating of “Hold” and an average price target of $296.05.

Insider Transactions at American Express

In other news, Director Michael J. Angelakis bought 3,700 shares of the business’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the purchase, the director now owns 3,700 shares of the company’s stock, valued at approximately $998,593. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the firm’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the completion of the transaction, the insider now directly owns 9,402 shares of the company’s stock, valued at approximately $2,590,251. This trade represents a 50.13% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

American Express Price Performance

Shares of AXP stock opened at $297.61 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. American Express has a 52-week low of $220.43 and a 52-week high of $326.28. The firm’s 50 day moving average price is $271.80 and its two-hundred day moving average price is $288.85. The stock has a market cap of $208.50 billion, a PE ratio of 21.24, a PEG ratio of 1.41 and a beta of 1.25.

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