American Express Company $AXP Shares Bought by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in American Express by 1,191.7%, owning 48,024 shares valued at approximately $15.3 million after acquiring an additional 44,306 shares.
• Insider Laureen Seeger sold nearly 17,000 shares for over $5 million, reducing her holdings by 65.38%, while another insider, Anna Marrs, also sold 5,500 shares, leading to a decrease of 21.31% in her position.
• American Express declared a quarterly dividend of $0.82, with an annualized dividend yield of 1.0%, set to be paid on November 10th to stockholders of record.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in American Express Company (NYSE:AXP) by 1,191.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,024 shares of the payment services company's stock after purchasing an additional 44,306 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in American Express were worth $15,319,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AXP. Nuveen LLC bought a new position in American Express during the 1st quarter worth $1,454,667,000. Wellington Management Group LLP lifted its holdings in shares of American Express by 13.7% in the first 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 buying an additional 2,168,445 shares during the period. GAMMA Investing LLC lifted its holdings in shares of American Express by 27,625.2% during the first quarter. GAMMA Investing LLC now owns 2,162,846 shares of the payment services company's stock valued at $581,914,000 after purchasing an additional 2,155,045 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of American Express by 25.5% during the first 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 purchasing an additional 965,221 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in American Express by 1.3% during the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock valued at $12,334,299,000 after buying an additional 605,900 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Laureen Seeger sold 16,998 shares of American Express stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $294.83, for a total value of $5,011,520.34. Following the completion of the sale, the insider directly owned 9,001 shares of the company's stock, valued at approximately $2,653,764.83. This trade represents a 65.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction on 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 sale, the insider directly owned 20,311 shares of the company's stock, valued at $6,312,049.47. This trade represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 269,996 shares of company stock worth $85,261,270. 0.20% of the stock is currently owned by company insiders.

American Express Trading Down 0.2%

Shares of AXP opened at $340.86 on Thursday. American Express Company has a 1 year low of $220.43 and a 1 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 stock has a 50 day simple moving average of $316.30 and a 200-day simple moving average of $294.66. The stock has a market cap of $237.20 billion, a PE ratio of 23.92, a PEG ratio of 1.81 and a beta of 1.28.

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

American Express Announces Dividend

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

Analysts Set New Price Targets

AXP has been the topic of several research reports. Truist Financial upped their target price on American Express from $348.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. DZ Bank downgraded shares of American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. William Blair reaffirmed an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Wells Fargo & Company increased their target price on American Express from $350.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Finally, Citigroup restated a "neutral" rating and set a $327.00 target price (up previously from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Eight equities 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. Based on data from MarketBeat, American Express presently has a consensus rating of "Hold" and a consensus target price of $315.20.

American Express Company 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.

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