Farther Finance Advisors LLC Increases Stake in American Express (NYSE:AXP)

Farther Finance Advisors LLC lifted its stake in shares of American Express (NYSE:AXP) by 80.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,545 shares of the payment services company’s stock after acquiring an additional 4,244 shares during the period. Farther Finance Advisors LLC’s holdings in American Express were worth $2,582,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Capital & Planning LLC acquired a new stake in American Express during the 4th quarter worth approximately $213,000. Brighton Jones LLC increased its position in American Express by 24.4% during the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after purchasing an additional 1,273 shares in the last quarter. Canvas Wealth Advisors LLC acquired a new stake in American Express during the 4th quarter worth approximately $210,000. Savant Capital LLC increased its position in American Express by 0.4% during the 4th quarter. Savant Capital LLC now owns 41,319 shares of the payment services company’s stock worth $12,263,000 after purchasing an additional 156 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new stake in American Express during the 4th quarter worth approximately $56,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of AXP opened at $299.58 on Wednesday. The business’s fifty day moving average price is $275.16 and its 200 day moving average price is $289.15. American Express has a 12-month low of $220.43 and a 12-month high of $326.28. The stock has a market capitalization of $209.88 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.17. American Express had a return on equity of 32.65% and a net margin of 15.36%. The firm had revenue of $16.97 billion for the quarter, compared to analysts’ expectations of $17.04 billion. During the same period last year, the business posted $3.33 earnings per share. Equities research analysts forecast that American Express will post 15.33 EPS for the current year.

Analyst Ratings Changes

AXP has been the subject of a number of research analyst reports. Redburn Atlantic raised shares of American Express from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $270.00 to $255.00 in a research report on Wednesday, April 23rd. William Blair reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, April 21st. JPMorgan Chase & Co. increased their price objective on shares of American Express from $244.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, April 21st. Citigroup lowered their price objective on shares of American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Finally, The Goldman Sachs Group lowered their price objective on shares of American Express from $367.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $296.05.

Insider Buying and Selling

In related news, 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 transaction of $2,603,475.00. Following the transaction, the insider now directly owns 9,402 shares in the company, valued at $2,590,251. This trade represents a 50.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the firm’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 owns 10,919 shares in the company, valued at $2,889,822.54. The trade was 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 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.