Selway Asset Management Purchases 75 Shares of American Express (NYSE:AXP)

Selway Asset Management lifted its position in shares of American Express (NYSE:AXP) by 0.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 18,347 shares of the payment services company’s stock after buying an additional 75 shares during the quarter. American Express comprises approximately 2.0% of Selway Asset Management’s investment portfolio, making the stock its 16th largest position. Selway Asset Management’s holdings in American Express were worth $4,936,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC lifted its position in shares of American Express by 1.6% in the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after purchasing an additional 33 shares during the period. Catalina Capital Group LLC lifted its position in shares of American Express by 1.0% in the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after purchasing an additional 34 shares during the period. Boston Financial Mangement LLC raised its stake in shares of American Express by 0.9% during the 4th quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock worth $1,189,000 after acquiring an additional 34 shares in the last quarter. Silver Oak Securities Incorporated raised its stake in shares of American Express by 2.5% during the 4th quarter. Silver Oak Securities Incorporated now owns 1,424 shares of the payment services company’s stock worth $423,000 after acquiring an additional 35 shares in the last quarter. Finally, Trillium Asset Management LLC raised its stake in shares of American Express by 1.4% during the 4th quarter. Trillium Asset Management LLC now owns 2,449 shares of the payment services company’s stock worth $727,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 0.4%

AXP stock opened at $295.37 on Tuesday. The firm’s fifty day simple moving average is $271.29 and its 200-day simple moving average is $288.79. The company has a market capitalization of $206.93 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. 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 has a 12 month low of $220.43 and a 12 month high of $326.28.

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, April 21st. Truist Financial boosted their price objective on shares of American Express from $315.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Argus lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 14th. The Goldman Sachs Group reduced 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 note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of American Express from $244.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, American Express currently has an average rating of “Hold” and an average target price of $296.05.

Insider Buying and Selling at American Express

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction on Tuesday, April 29th. The shares were 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 $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael J. Angelakis acquired 3,700 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the acquisition, the director now owns 3,700 shares of the company’s stock, valued at approximately $998,593. This represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.