Fiera Capital Corp Raises Position in American Express Company (NYSE:AXP)

Key Points

• Fiera Capital Corp increased its stake in American Express by 18.0% during the first quarter, owning approximately $13.1 million worth of shares by the end of the quarter.
• Insider Howard Grosfield sold 9,450 shares of American Express, representing a 50.13% decrease in his holdings, while the company's insiders only own 0.20% of total stock.
• American Express recently reported earnings of $4.08 per share, exceeding analysts' expectations and indicating a 9.3% revenue increase year-over-year.

Fiera Capital Corp grew its holdings in American Express Company (NYSE:AXP - Free Report) by 18.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,771 shares of the payment services company's stock after purchasing an additional 7,447 shares during the period. Fiera Capital Corp's holdings in American Express were worth $13,122,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Investment Management Corp VA ADV purchased a new position in American Express during the fourth quarter valued at $29,000. MorganRosel Wealth Management LLC purchased a new stake in shares of American Express in the first quarter worth about $29,000. Nexus Investment Management ULC bought a new stake in American Express during the first quarter worth approximately $34,000. Hughes Financial Services LLC bought a new stake in American Express during the first quarter worth approximately $35,000. Finally, IAG Wealth Partners LLC bought a new stake in American Express during the first quarter worth approximately $40,000. Institutional investors own 84.33% of the company's stock.

American Express Stock Down 1.4%

NYSE AXP traded down $4.22 during midday trading on Thursday, hitting $299.19. 2,713,976 shares of the company traded hands, compared to its average volume of 2,417,700. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. The company has a market cap of $208.20 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 1.61 and a beta of 1.25. The company's 50-day simple moving average is $305.99 and its 200-day simple moving average is $291.53. American Express Company has a 52 week low of $220.43 and a 52 week high of $329.14.

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

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.82 per share. 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 is currently 23.02%.

Insider Activity

In other news, insider Anna Marrs sold 5,500 shares of the stock in a transaction 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 completion of the sale, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the sale, the insider owned 9,402 shares of the company's stock, valued at approximately $2,590,251. This represents a 50.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 64,950 shares of company stock worth $19,787,710. Insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AXP. Monness Crespi & Hardt cut American Express from a "buy" rating to a "neutral" rating in a research note on Tuesday, July 15th. Bank of America raised American Express from a "neutral" rating to a "buy" rating and cut their target price for the company from $325.00 to $274.00 in a research note on Friday, April 11th. Wells Fargo & Company set a $327.00 target price on American Express in a research note on Wednesday, July 2nd. Truist Financial upped their target price on American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Keefe, Bruyette & Woods upped their target price on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $311.05.

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.