American Express Company (NYSE:AXP) Shares Sold by Swiss National Bank

Key Points

• Swiss National Bank reduced its holdings in American Express (NYSE:AXP) by 1.1% in the first quarter, after selling 17,200 shares, leaving them with approximately 1.6 million shares valued at $427.6 million.
• American Express recently reported quarterly earnings of $4.08 EPS, exceeding analyst expectations, with revenues reaching $17.86 billion, marking a year-over-year growth of 9.3%.
• The company declared a quarterly dividend of $0.82 per share, which will be paid on August 8th, reflecting a 1.1% dividend yield and a current payout ratio of 23.02%.

Swiss National Bank reduced its holdings in American Express Company (NYSE:AXP - Free Report) by 1.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,589,379 shares of the payment services company's stock after selling 17,200 shares during the quarter. Swiss National Bank owned approximately 0.23% of American Express worth $427,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in American Express by 5.5% in the first quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company's stock valued at $183,037,000 after purchasing an additional 35,295 shares during the last quarter. Pinnacle Financial Partners Inc grew its position in American Express by 1.4% during the first quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company's stock valued at $45,243,000 after acquiring an additional 2,259 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in American Express by 6.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company's stock valued at $25,088,000 after acquiring an additional 5,693 shares during the period. Navis Wealth Advisors LLC grew its position in American Express by 368.7% during the first quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company's stock valued at $955,000 after acquiring an additional 2,791 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its position in American Express by 8.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 95,443 shares of the payment services company's stock valued at $25,679,000 after acquiring an additional 7,822 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Up 0.9%

Shares of NYSE:AXP traded up $2.68 during trading on Friday, hitting $297.41. The company's stock had a trading volume of 1,778,023 shares, compared to its average volume of 2,640,008. 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 Company has a fifty-two week low of $220.43 and a fifty-two week high of $329.14. The stock's 50-day moving average price is $306.59 and its two-hundred day moving average price is $290.69. The company has a market capitalization of $206.96 billion, a PE ratio of 20.87, a PEG ratio of 1.58 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $17.86 billion for the quarter, compared to analysts' expectations of $17.70 billion. During the same quarter in the prior year, the firm posted $3.49 earnings per share. American Express's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, sell-side analysts expect that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were paid a dividend of $0.82 per share. The ex-dividend date was Thursday, July 3rd. This represents a $3.28 annualized dividend and a yield of 1.1%. American Express's dividend payout ratio is presently 23.02%.

Analysts Set New Price Targets

AXP has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price target on American Express from $371.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, July 21st. BTIG Research set a $277.00 price target on American Express and gave the company a "sell" rating in a research report on Monday, July 14th. Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a research report on Monday, July 14th. Citigroup reissued a "neutral" rating and set a $327.00 price target (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Finally, DZ Bank downgraded American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, American Express has a consensus rating of "Hold" and a consensus target price of $311.05.

Insider Buying and Selling at American Express

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the company's stock in a transaction that occurred 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 sale, the insider owned 10,957 shares in the company, valued at $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Laureen Seeger sold 16,998 shares of the stock in a transaction that occurred 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 sale, the insider owned 9,001 shares in the company, valued at $2,653,764.83. The trade was a 65.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,219 shares of company stock worth $40,555,901 over the last quarter. 0.20% of the stock is owned by corporate insiders.

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.