Orrstown Financial Services Inc. Trims Stock Position in American Express (NYSE:AXP)

Orrstown Financial Services Inc. lessened its position in shares of American Express (NYSE:AXP) by 5.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 4,902 shares of the payment services company’s stock after selling 256 shares during the quarter. Orrstown Financial Services Inc.’s holdings in American Express were worth $1,319,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Investment Management Corp VA ADV purchased a new stake in shares of American Express during the 4th quarter valued at approximately $29,000. Sellwood Investment Partners LLC acquired a new stake in American Express in the 4th quarter valued at approximately $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in American Express in the 4th quarter valued at approximately $33,000. Nexus Investment Management ULC acquired a new stake in American Express in the 1st quarter valued at approximately $34,000. Finally, Curio Wealth LLC acquired a new stake in American Express in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Activity at American Express

In related 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 value of $799,008.54. Following the completion of the sale, the insider now directly owns 10,919 shares of the company’s stock, valued at $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the business’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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AXP has been the subject of several research reports. Baird R W upgraded shares of American Express from a “strong sell” rating to a “hold” rating in a report on Friday, March 14th. William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday, April 21st. Bank of America upgraded shares of American Express from a “neutral” rating to a “buy” rating and dropped their target price for the company from $325.00 to $274.00 in a report on Friday, April 11th. JPMorgan Chase & Co. boosted their price target on shares of American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Finally, Truist Financial boosted their price target on shares of American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, May 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 stock. According to data from MarketBeat.com, American Express presently has an average 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 current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The firm has a fifty day moving average price of $273.60 and a 200 day moving average price of $289.10. The company has a market cap of $212.08 billion, a P/E ratio of 21.61, a PEG ratio of 1.41 and a beta of 1.25. American Express has a 12 month low of $220.43 and a 12 month high of $326.28.

American Express (NYSE:AXP) last issued 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. The firm had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. American Express had a net margin of 15.36% and a return on equity of 32.65%. During the same quarter in the previous year, the firm posted $3.33 earnings per share. Sell-side analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

About American Express

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.