Pines Wealth Management LLC Sells 110 Shares of American Express (NYSE:AXP)

Pines Wealth Management LLC cut its holdings in American Express (NYSE:AXP) by 5.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,915 shares of the payment services company’s stock after selling 110 shares during the quarter. Pines Wealth Management LLC’s holdings in American Express were worth $515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Capital & Planning LLC bought a new stake in American Express during the 4th quarter valued at approximately $213,000. Brighton Jones LLC lifted its stake in shares of 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 position in shares of American Express by 2.5% during the fourth 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 in the last quarter. Leo Wealth LLC grew its stake in American Express by 80.3% in the fourth 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 during the period. Finally, Strategic Financial Concepts LLC bought a new position in American Express in the fourth quarter worth $40,920,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Monness Crespi & Hardt upped their price objective on shares of American Express from $275.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, April 21st. Bank of America raised shares of American Express from a “neutral” rating to a “buy” rating and decreased their target price for the company from $325.00 to $274.00 in a research note on Friday, April 11th. Robert W. Baird raised American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price target on the stock in a research report on Friday, March 14th. Finally, Redburn Atlantic raised American Express from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $270.00 to $255.00 in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $296.05.

American Express Stock Performance

Shares of AXP stock 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 50 day moving average price of $273.60 and a 200-day moving average price of $289.09. American Express has a 52 week low of $220.43 and a 52 week high of $326.28. The firm has a market capitalization of $212.08 billion, a PE ratio of 21.61, a P/E/G ratio of 1.41 and a beta of 1.25.

American Express (NYSE:AXP) last posted its earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping 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 the consensus estimate of $17.04 billion. During the same quarter in the previous year, the firm posted $3.33 EPS. As a group, equities research analysts expect that American Express will post 15.33 earnings per share for the current year.

Insider Activity at American Express

In other news, insider Glenda G. Mcneal sold 3,019 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 10,919 shares of the company’s stock, valued at $2,889,822.54. The trade was a 21.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Howard Grosfield sold 9,450 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 9,402 shares in the company, valued at approximately $2,590,251. This represents a 50.13% 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 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.