American Express Company $AXP Shares Acquired by SGL Investment Advisors Inc.

Key Points

• SGL Investment Advisors Inc. increased its stake in American Express by 173.1% during the second quarter, now holding a total value of $709,000 in 2,237 shares.
• American Express recently declared a quarterly dividend of $0.82, which will be paid on November 10th, representing a 1.0% dividend yield for investors.
• In the most recent earnings report, American Express exceeded expectations with earnings of $4.08 per share and reported a revenue of $17.86 billion, marking a 9.3% increase year-over-year.

SGL Investment Advisors Inc. lifted its holdings in American Express Company (NYSE:AXP) by 173.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,237 shares of the payment services company's stock after buying an additional 1,418 shares during the quarter. SGL Investment Advisors Inc.'s holdings in American Express were worth $709,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position 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 worth $12,334,299,000 after purchasing an additional 605,900 shares during the last quarter. Wellington Management Group LLP raised its holdings in American Express by 13.7% during the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock worth $4,849,777,000 after purchasing an additional 2,168,445 shares in the last quarter. Nuveen LLC purchased a new stake in American Express in the 1st quarter worth approximately $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in American Express by 1.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company's stock valued at $1,370,489,000 after purchasing an additional 78,538 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of American Express by 25.5% during 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 buying an additional 965,221 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Stock Performance

Shares of NYSE AXP opened at $331.93 on Tuesday. American Express Company has a one year low of $220.43 and a one year high of $349.19. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The business has a fifty day simple moving average of $320.43 and a 200 day simple moving average of $299.06. The firm has a market capitalization of $230.98 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.75 and a beta of 1.29.

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, beating 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 net margin of 14.78% and a return on equity of 32.87%. The firm's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.49 EPS. Sell-side analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express's dividend payout ratio (DPR) is currently 23.02%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on AXP shares. Evercore ISI raised their price target on shares of American Express from $330.00 to $365.00 and gave the company an "in-line" rating in a report on Tuesday, September 30th. Citigroup reissued a "neutral" rating and set a $327.00 target price (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. BTIG Research set a $277.00 price target on American Express and gave the stock a "sell" rating in a research note on Monday, July 14th. Truist Financial raised their price objective on American Express from $348.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Finally, Keefe, Bruyette & Woods upped their target price on American Express from $371.00 to $394.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $321.90.

Insiders Place Their Bets

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the transaction, the insider directly owned 10,957 shares of the company's stock, valued at approximately $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anna Marrs sold 5,500 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the sale, 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. Insiders have sold 269,996 shares of company stock valued at $85,261,270 over the last 90 days. Corporate insiders own 0.20% of the company's stock.

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.

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express Company (NYSE:AXP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.