American Express Company (NYSE:AXP) Shares Sold by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp reduced its stake in American Express by 4.9% in Q1, now holding 176,000 shares worth approximately $47.35 million.
• Several institutional investors, including Northern Trust Corp and DZ BANK AG, significantly increased their shares in American Express during the 4th quarter, indicating ongoing institutional interest in the stock.
• American Express declared a quarterly dividend of $0.82 per share, with a yield of 1.1%, which will be paid on August 8th to shareholders on record as of July 3rd.

Alberta Investment Management Corp trimmed its position in shares of American Express Company (NYSE:AXP - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 176,000 shares of the payment services company's stock after selling 9,000 shares during the quarter. Alberta Investment Management Corp's holdings in American Express were worth $47,353,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in American Express by 463.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company's stock valued at $1,293,259,000 after purchasing an additional 3,583,959 shares during the last quarter. GAMMA Investing LLC boosted its position in American Express by 27,625.2% in the 1st quarter. GAMMA Investing LLC now owns 2,162,846 shares of the payment services company's stock worth $581,914,000 after purchasing an additional 2,155,045 shares in the last quarter. Capital Research Global Investors boosted its position in American Express by 186.3% in the 4th quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company's stock worth $886,426,000 after purchasing an additional 1,943,463 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its position in American Express by 346.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company's stock worth $600,072,000 after purchasing an additional 1,568,747 shares in the last quarter. Finally, Northern Trust Corp boosted its position in American Express by 16.3% in the 4th quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company's stock worth $2,025,632,000 after purchasing an additional 955,811 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Trading Down 1.7%

AXP stock traded down $5.06 during mid-day trading on Friday, hitting $294.25. 3,012,929 shares of the company were exchanged, compared to its average volume of 2,476,523. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $204.76 billion, a P/E ratio of 20.65, a PEG ratio of 1.56 and a beta of 1.28. The business has a fifty day simple moving average of $306.17 and a 200-day simple moving average of $291.35. American Express Company has a 12-month low of $220.43 and a 12-month high of $329.14.

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

American Express Announces Dividend

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

Insider Activity

In related news, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the transaction, the insider directly owned 10,957 shares of the company's stock, valued at $3,391,191.50. The trade was a 82.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the transaction, the insider owned 20,311 shares of the company's stock, valued at $6,312,049.47. The trade was a 21.31% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 64,950 shares of company stock worth $19,787,710. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a report on Monday, July 14th. Morgan Stanley boosted their price objective on American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Barclays raised their target price on American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company set a $327.00 target price on American Express in a research report on Wednesday, July 2nd. Finally, Redburn Atlantic raised American Express from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, American Express currently has a consensus rating of "Hold" and a consensus target price of $311.05.

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.