DnB Asset Management AS Lowers Stock Holdings in American Express Company $AXP

Key Points

• DnB Asset Management AS reduced its stake in American Express by 1.5% during the 1st quarter, holding 104,891 shares worth approximately $28.2 million at the end of the quarter.
• American Express reported earnings of $4.08 per share for the latest quarter, exceeding analysts' expectations of $3.86, with a revenue increase of 9.3% year-over-year to $17.86 billion.
• The company has announced a quarterly dividend of $0.82, resulting in an annualized dividend yield of 1.0% and a payout ratio of 23.02%.

DnB Asset Management AS trimmed its position in shares of American Express Company (NYSE:AXP - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,891 shares of the payment services company's stock after selling 1,577 shares during the period. DnB Asset Management AS's holdings in American Express were worth $28,221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Engines Advisors L.L.C. raised its stake in shares of American Express by 4.7% during the first quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock valued at $208,000 after acquiring an additional 35 shares during the last quarter. Tyler Stone Wealth Management raised its stake in shares of American Express by 4.8% during the first quarter. Tyler Stone Wealth Management now owns 792 shares of the payment services company's stock valued at $213,000 after acquiring an additional 36 shares during the last quarter. Hemington Wealth Management raised its stake in shares of American Express by 2.3% during the first quarter. Hemington Wealth Management now owns 1,661 shares of the payment services company's stock valued at $446,000 after acquiring an additional 38 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of American Express by 2.5% during the first quarter. Revolve Wealth Partners LLC now owns 1,620 shares of the payment services company's stock valued at $436,000 after acquiring an additional 40 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its stake in shares of American Express by 0.8% during the first quarter. Cornerstone Planning Group LLC now owns 5,236 shares of the payment services company's stock valued at $1,362,000 after acquiring an additional 40 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

Insider Activity at American Express

In other news, insider Laureen Seeger sold 16,998 shares of American Express stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total transaction of $5,011,520.34. Following the transaction, the insider owned 9,001 shares in the company, valued at $2,653,764.83. This trade represents a 65.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of American Express 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 transaction, the insider owned 10,957 shares in the company, valued at $3,391,191.50. This represents a 82.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 157,724 shares of company stock worth $48,227,228. Company insiders own 0.20% of the company's stock.

American Express Stock Down 1.3%

Shares of AXP stock traded down $4.28 during mid-day trading on Friday, hitting $326.37. The company's stock had a trading volume of 2,971,185 shares, compared to its average volume of 2,303,705. American Express Company has a 52-week low of $220.43 and a 52-week high of $332.46. The business has a 50-day moving average price of $313.21 and a 200 day moving average price of $290.81. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The stock has a market cap of $227.11 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.73 and a beta of 1.28.

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

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express's payout ratio is 23.02%.

Analyst Ratings Changes

Several equities analysts recently issued reports on AXP shares. Wells Fargo & Company boosted their price target on shares of American Express from $350.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday. JPMorgan Chase & Co. lifted their price target on American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. William Blair restated an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods upped their price objective on shares of American Express from $360.00 to $371.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of American Express in a report on Monday, July 14th. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $313.45.

American Express Profile

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.