People s United Financial Inc. lowered its stake in shares of American Express (NYSE:AXP – Get Rating) by 30.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,014 shares of the payment services company’s stock after selling 4,773 shares during the period. People s United Financial Inc.’s holdings in American Express were worth $2,060,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC lifted its position in shares of American Express by 873.3% during the first quarter. Blue Bell Private Wealth Management LLC now owns 146 shares of the payment services company’s stock worth $27,000 after acquiring an additional 131 shares in the last quarter. SBK Financial Inc. purchased a new stake in shares of American Express in the fourth quarter worth $25,000. Perkins Coie Trust Co purchased a new stake in shares of American Express in the first quarter worth $28,000. Tyler Stone Wealth Management purchased a new stake in shares of American Express in the fourth quarter worth $25,000. Finally, Rise Advisors LLC raised its position in shares of American Express by 823.5% in the first quarter. Rise Advisors LLC now owns 157 shares of the payment services company’s stock worth $29,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 85.49% of the company’s stock.
American Express Stock Down 0.3 %
Shares of NYSE:AXP opened at $165.40 on Tuesday. The stock’s 50-day moving average price is $148.90 and its 200-day moving average price is $168.16. American Express has a 12-month low of $134.12 and a 12-month high of $199.55. The stock has a market capitalization of $124.01 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 1.28 and a beta of 1.15. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.74.
Wall Street Analysts Forecast Growth
AXP has been the topic of a number of recent analyst reports. Barclays increased their price objective on American Express from $157.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, July 25th. Robert W. Baird upgraded American Express from a “neutral” rating to an “outperform” rating and set a $175.00 price objective on the stock in a research report on Friday, June 17th. Wolfe Research downgraded American Express from an “outperform” rating to a “peer perform” rating and lowered their price objective for the stock from $213.00 to $146.00 in a research report on Thursday, May 12th. Citigroup increased their price objective on American Express from $148.00 to $159.00 in a research report on Tuesday, July 26th. Finally, Morgan Stanley increased their target price on American Express from $143.00 to $155.00 and gave the company an “equal weight” rating in a research note on Monday, July 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $181.53.
Insider Buying and Selling
In related news, Director Theodore Leonsis sold 4,005 shares of the firm’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $166.63, for a total value of $667,353.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is owned by insiders.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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