Laureen Seeger Sells 61,721 Shares of American Express Company (NYSE:AXP) Stock

Key Points

• Insider Laureen Seeger sold 61,721 shares of American Express for a total value of $18.36 million, reducing their position by 87.27%.
• The company's stock price recently decreased by 0.2%, closing at $294.82, with a market capitalization of $205.16 billion.
• American Express reported quarterly earnings of $4.08 per share, surpassing estimates and highlighting a revenue increase of 9.3% year-over-year.

American Express Company (NYSE:AXP) insider Laureen Seeger sold 61,721 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total value of $18,360,145.87. Following the transaction, the insider owned 9,001 shares of the company's stock, valued at approximately $2,677,527.47. The trade was a 87.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Laureen Seeger also recently made the following trade(s):

• On Wednesday, August 6th, Laureen Seeger sold 16,998 shares of American Express stock. The stock was sold at an average price of $294.83, for a total value of $5,011,520.34.

American Express Trading Up 0.9%

NYSE:AXP traded up $2.68 on Friday, reaching $297.41. The stock had a trading volume of 1,778,023 shares, compared to its average volume of 2,640,008. American Express Company has a 12-month low of $220.43 and a 12-month high of $329.14. The company has a market cap of $206.96 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 1.58 and a beta of 1.28. The firm's fifty day moving average is $306.59 and its two-hundred day moving average is $290.69. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60.

American Express (NYSE:AXP - Get Free Report) last issued its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.86 by $0.22. The business had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%. The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the company posted $3.49 EPS. Equities analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, July 3rd. American Express's dividend payout ratio (DPR) is presently 23.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AXP shares. Truist Financial upped their target price on American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Keefe, Bruyette & Woods upped their target price on American Express from $360.00 to $371.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft upped their price objective on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. William Blair reiterated an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. Finally, BTIG Research set a $277.00 price target on American Express and gave the company a "sell" rating in a research note on Monday, July 14th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Express currently has an average rating of "Hold" and a consensus price target of $311.05.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AXP. Principal Financial Group Inc. raised its position in shares of American Express by 5.5% in the first quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company's stock valued at $183,037,000 after purchasing an additional 35,295 shares during the period. Pinnacle Financial Partners Inc lifted its position in American Express by 1.4% during the 1st quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company's stock worth $45,243,000 after buying an additional 2,259 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in American Express by 6.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company's stock worth $25,088,000 after buying an additional 5,693 shares in the last quarter. Navis Wealth Advisors LLC lifted its position in American Express by 368.7% during the 1st quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company's stock worth $955,000 after buying an additional 2,791 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in American Express by 8.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 95,443 shares of the payment services company's stock worth $25,679,000 after buying an additional 7,822 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

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.