American Express Company $AXP Shares Acquired by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in American Express by 2.2% in the second quarter, now owning 2,267,377 shares valued at approximately $721.5 million.
• American Express's quarterly earnings showed significant growth, with EPS of $4.08 surpassing analysts' expectations, and revenue grew by 9.3% year-over-year, totaling $17.86 billion.
• The company recently announced a quarterly dividend of $0.82 per share, which will be paid on November 10th, representing an annualized yield of 1.0%.

Nordea Investment Management AB increased its stake in American Express Company (NYSE:AXP) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,267,377 shares of the payment services company's stock after purchasing an additional 49,593 shares during the quarter. American Express comprises about 0.7% of Nordea Investment Management AB's portfolio, making the stock its 27th biggest holding. Nordea Investment Management AB owned 0.33% of American Express worth $721,525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Nuveen LLC acquired a new stake in American Express in the 1st quarter valued at about $1,454,667,000. Wellington Management Group LLP lifted its holdings in American Express by 13.7% in the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock valued at $4,849,777,000 after acquiring an additional 2,168,445 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in American Express by 25.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company's stock valued at $1,278,711,000 after acquiring an additional 965,221 shares during the last quarter. Vanguard Group Inc. lifted its holdings in American Express by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock valued at $12,334,299,000 after acquiring an additional 605,900 shares during the last quarter. Finally, Provident Trust Co. acquired a new stake in American Express in the 1st quarter valued at about $126,119,000. Institutional investors and hedge funds own 84.33% of the company's stock.

Insider Activity at American Express

In other American Express news, insider Anna Marrs sold 5,500 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the transaction, the insider owned 20,311 shares in the company, valued at $6,312,049.47. This trade represents a 21.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total value of $37,034,041.92. Following the transaction, the chief executive officer owned 92,810 shares in the company, valued at approximately $30,614,306.60. This trade represents a 54.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is owned by company insiders.

American Express Trading Down 2.1%

Shares of NYSE AXP opened at $323.60 on Friday. The stock has a market cap of $225.19 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 1.73 and a beta of 1.29. The business has a 50 day simple moving average of $324.66 and a 200 day simple moving average of $301.57. American Express Company has a 52 week low of $220.43 and a 52 week high of $349.19. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.49 EPS. On average, research analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. American Express's dividend payout ratio is presently 23.02%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AXP shares. JPMorgan Chase & Co. boosted their price objective on American Express from $343.00 to $355.00 and gave the stock a "neutral" rating in a report on Tuesday, October 7th. Truist Financial boosted their price objective on American Express from $348.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Barclays boosted their price objective on American Express from $297.00 to $336.00 and gave the stock a "cautious" rating in a report on Monday, October 6th. BTIG Research set a $277.00 price objective on American Express and gave the stock a "sell" rating in a report on Monday, July 14th. Finally, DZ Bank downgraded American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $323.60.

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.

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