Financial Management Network Inc. Has $1.09 Million Holdings in American Express Company $AXP

Financial Management Network Inc. raised its holdings in shares of American Express Company (NYSE:AXP) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,315 shares of the payment services company’s stock after buying an additional 91 shares during the quarter. Financial Management Network Inc.’s holdings in American Express were worth $1,088,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AXP. Brighton Jones LLC lifted its holdings in shares of American Express by 24.4% during the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after buying an additional 1,273 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of American Express by 24.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,633 shares of the payment services company’s stock worth $781,000 after buying an additional 525 shares during the last quarter. GHE LLC lifted its holdings in shares of American Express by 2.7% during the fourth quarter. GHE LLC now owns 17,021 shares of the payment services company’s stock worth $5,052,000 after buying an additional 447 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of American Express by 7.5% during the fourth quarter. Vident Advisory LLC now owns 10,702 shares of the payment services company’s stock worth $3,177,000 after buying an additional 749 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in shares of American Express during the fourth quarter worth approximately $9,919,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Trading Up 2.7%

Shares of AXP opened at $335.87 on Thursday. American Express Company has a 12-month low of $220.43 and a 12-month high of $337.50. The stock’s fifty day simple moving average is $313.93 and its 200-day simple moving average is $292.62. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $233.73 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 1.73 and a beta of 1.28.

American Express (NYSE:AXP) last released its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the prior year, the firm posted $3.49 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, research analysts predict that American Express Company will post 15.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AXP shares. BTIG Research set a $277.00 price objective on American Express and gave the company a “sell” rating in a research report on Monday, July 14th. Citigroup restated a “neutral” rating and set a $327.00 price objective (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. William Blair restated an “outperform” rating on shares of American Express in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. boosted their price objective on American Express from $260.00 to $342.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Finally, Truist Financial boosted their price objective on American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research report on Monday. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $315.20.

Insider Activity at American Express

In other news, insider Glenda G. Mcneal sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the sale, the insider owned 10,957 shares of the company’s stock, valued at $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the sale, the insider directly owned 20,311 shares in the company, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,996 shares of company stock valued at $85,261,270 over the last 90 days. Insiders own 0.20% of the company’s stock.

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.