Legacy Trust Sells 289 Shares of American Express (NYSE:AXP)

Legacy Trust lowered its stake in shares of American Express (NYSE:AXP) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,186 shares of the payment services company’s stock after selling 289 shares during the period. American Express makes up 2.0% of Legacy Trust’s portfolio, making the stock its 15th biggest position. Legacy Trust’s holdings in American Express were worth $8,391,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Keybank National Association OH boosted its holdings in American Express by 3.7% during the fourth quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock worth $103,858,000 after buying an additional 12,364 shares during the last quarter. Edge Capital Group LLC boosted its holdings in American Express by 20.9% during the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock worth $1,915,000 after buying an additional 1,113 shares during the last quarter. Game Plan Financial Advisors LLC boosted its holdings in American Express by 17.5% during the fourth quarter. Game Plan Financial Advisors LLC now owns 18,982 shares of the payment services company’s stock worth $5,638,000 after buying an additional 2,826 shares during the last quarter. NewEdge Wealth LLC boosted its holdings in American Express by 6.0% during the fourth quarter. NewEdge Wealth LLC now owns 26,102 shares of the payment services company’s stock worth $7,747,000 after buying an additional 1,471 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in American Express by 11.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 50,009 shares of the payment services company’s stock worth $14,842,000 after buying an additional 4,959 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Stock Down 0.4%

NYSE:AXP opened at $297.90 on Friday. The firm has a market capitalization of $208.71 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. American Express has a twelve month low of $220.43 and a twelve month high of $326.28. The stock’s 50 day moving average price is $277.76 and its two-hundred day moving average price is $289.17. 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 posted its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.17. The firm had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. American Express had a return on equity of 32.65% and a net margin of 15.36%. During the same quarter in the previous year, the firm earned $3.33 EPS. Equities research analysts expect that American Express will post 15.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of recent analyst reports. William Blair restated an “outperform” rating on shares of American Express in a report on Monday, April 21st. The Goldman Sachs Group cut their price objective on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Citigroup cut their price objective on American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Argus cut American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. Finally, BTIG Research cut their price objective on American Express from $272.00 to $240.00 and set a “sell” rating on the stock in a report on Monday, April 21st. One 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $296.05.

Insiders Place Their Bets

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 transaction, the insider now directly owns 10,919 shares of the company’s stock, valued at approximately $2,889,822.54. The trade was a 21.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. The trade was a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

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.