Deane Retirement Strategies Inc. Increases Stock Position in American Express (NYSE:AXP)

Deane Retirement Strategies Inc. raised its position in shares of American Express (NYSE:AXP) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,229 shares of the payment services company’s stock after buying an additional 246 shares during the quarter. American Express comprises approximately 1.4% of Deane Retirement Strategies Inc.’s portfolio, making the stock its 25th biggest position. Deane Retirement Strategies Inc.’s holdings in American Express were worth $3,019,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AXP. Norges Bank purchased a new position in shares of American Express in the 4th quarter worth about $1,785,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of American Express by 463.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company’s stock worth $1,293,259,000 after purchasing an additional 3,583,959 shares during the last quarter. GAMMA Investing LLC raised its position in shares of American Express by 27,625.2% in the 1st quarter. GAMMA Investing LLC now owns 2,162,846 shares of the payment services company’s stock worth $581,914,000 after purchasing an additional 2,155,045 shares during the last quarter. Capital Research Global Investors raised its position in shares of American Express by 186.3% in the 4th quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company’s stock worth $886,426,000 after purchasing an additional 1,943,463 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its position in shares of American Express by 346.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company’s stock worth $600,072,000 after purchasing an additional 1,568,747 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Trading Up 2.3%

American Express stock opened at $302.71 on Monday. The business has a 50-day simple moving average of $273.60 and a two-hundred day simple moving average of $289.07. The company has a market cap of $212.08 billion, a P/E ratio of 21.61, a P/E/G 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. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last released its quarterly earnings results 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. The business had revenue of $16.97 billion during 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 company posted $3.33 EPS. Analysts predict that American Express will post 15.33 EPS for the current year.

Insider Activity at American Express

In related news, 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 transaction of $799,008.54. Following the completion of the transaction, the insider now directly owns 10,919 shares in the company, valued at approximately $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 can be accessed through this link. Also, insider Howard Grosfield sold 9,450 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AXP. Monness Crespi & Hardt lifted their price target on American Express from $275.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, April 21st. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, April 21st. Bank of America raised American Express from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $325.00 to $274.00 in a research report on Friday, April 11th. The Goldman Sachs Group reduced their price objective on American Express from $367.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Finally, Truist Financial lifted their price objective on American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. One equities research 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. According to data from MarketBeat.com, American Express presently has an average 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.