Wedge Capital Management L L P NC Boosts Stock Holdings in American Express (NYSE:AXP)

Wedge Capital Management L L P NC increased its holdings in American Express (NYSE:AXP) by 15.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,073 shares of the payment services company’s stock after buying an additional 147 shares during the period. Wedge Capital Management L L P NC’s holdings in American Express were worth $289,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Boston Financial Mangement LLC boosted its stake in shares of American Express by 0.9% during the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock valued at $1,189,000 after purchasing an additional 34 shares during the period. Trillium Asset Management LLC boosted its position in American Express by 1.4% in the 4th quarter. Trillium Asset Management LLC now owns 2,449 shares of the payment services company’s stock valued at $727,000 after buying an additional 35 shares during the period. Zions Bancorporation N.A. grew its stake in American Express by 2.4% in the 4th quarter. Zions Bancorporation N.A. now owns 1,510 shares of the payment services company’s stock worth $448,000 after acquiring an additional 35 shares in the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of American Express by 2.8% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,317 shares of the payment services company’s stock valued at $391,000 after acquiring an additional 36 shares in the last quarter. Finally, Arista Wealth Management LLC boosted its holdings in shares of American Express by 1.7% in the fourth quarter. Arista Wealth Management LLC now owns 2,275 shares of the payment services company’s stock valued at $675,000 after purchasing an additional 37 shares during the period. 84.33% of the stock is owned by institutional investors.

American Express Price Performance

NYSE:AXP opened at $299.25 on Thursday. The stock has a 50 day moving average of $276.48 and a two-hundred day moving average of $289.22. American Express has a 12 month low of $220.43 and a 12 month high of $326.28. The firm has a market cap of $209.65 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last issued its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 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 during the quarter, compared to analysts’ expectations of $17.04 billion. During the same period in the previous year, the business earned $3.33 earnings per share. On average, analysts expect that American Express will post 15.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Glenda G. Mcneal sold 3,019 shares of the company’s stock in a transaction 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 sale, the insider now owns 10,919 shares of the company’s stock, valued at approximately $2,889,822.54. This represents a 21.66% decrease in their ownership of the stock. 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 American Express stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the transaction, the insider now owns 9,402 shares of the company’s stock, valued at approximately $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. 0.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AXP. Baird R W raised shares of American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. Citigroup lowered their target price on American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Bank of America raised American Express from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $325.00 to $274.00 in a research report on Friday, April 11th. The Goldman Sachs Group cut their target price on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $310.00 price target on shares of American Express in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus price target of $296.05.

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.