Donaldson Capital Management LLC Makes New Investment in American Express (NYSE:AXP)

Donaldson Capital Management LLC purchased a new position in shares of American Express (NYSE:AXP) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 847 shares of the payment services company’s stock, valued at approximately $228,000.

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

Insider Transactions at American Express

In related news, insider Glenda G. Mcneal sold 3,019 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the sale, the insider now directly owns 10,919 shares in the company, valued at approximately $2,889,822.54. This trade represents a 21.66% decrease in their position. The sale was disclosed in a 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 stock was sold at an average price of $275.50, for a total value 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 disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on AXP. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $310.00 target price on shares of American Express in a research note on Monday, April 21st. BTIG Research decreased their price objective on American Express from $272.00 to $240.00 and set a “sell” rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. lifted their price objective on American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, April 21st. Baird R W raised shares of American Express from a “strong sell” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Truist Financial raised 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. One equities 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $296.05.

American Express Trading Down 0.1%

Shares of AXP stock opened at $299.25 on Thursday. 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 has a fifty-two week low of $220.43 and a fifty-two week high of $326.28. The firm’s 50 day moving average price is $276.48 and its two-hundred day moving average price is $289.22. The stock has a market cap of $209.65 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth 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 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $17.04 billion. During the same quarter in the previous year, the business posted $3.33 EPS. On average, analysts anticipate 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.