APG Asset Management N.V. Cuts Position in American Express Company $AXP

Key Points

• APG Asset Management N.V. has reduced its stake in American Express Company by 4.4%, selling 15,796 shares to hold a total of 340,092 shares valued at approximately $84.7 million.
• American Express recently reported a quarterly earnings per share (EPS) of $4.08, exceeding analysts' expectations, with revenues of $17.86 billion representing a 9.3% year-over-year increase.
• Insider trading activity included the sale of 50,000 shares by Glenda G. Mcneal at an average price of $309.50, marking an 82% decrease in her holdings.

APG Asset Management N.V. trimmed its position in shares of American Express Company (NYSE:AXP - Free Report) by 4.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 340,092 shares of the payment services company's stock after selling 15,796 shares during the period. APG Asset Management N.V.'s holdings in American Express were worth $84,708,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Investment Management Corp VA ADV acquired a new position in American Express in the 4th quarter valued at about $29,000. MorganRosel Wealth Management LLC purchased a new position in shares of American Express in the first quarter valued at approximately $29,000. Nexus Investment Management ULC acquired a new position in shares of American Express in the first quarter valued at approximately $34,000. Hughes Financial Services LLC purchased a new stake in American Express during the 1st quarter worth approximately $35,000. Finally, IAG Wealth Partners LLC acquired a new stake in American Express during the 1st quarter worth approximately $40,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of AXP stock traded up $4.81 during trading hours on Tuesday, hitting $320.61. The stock had a trading volume of 1,848,235 shares, compared to its average volume of 2,386,326. 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 firm has a market capitalization of $223.10 billion, a PE ratio of 22.16, a PEG ratio of 1.67 and a beta of 1.28. The stock's 50 day moving average is $308.92 and its 200 day moving average is $289.67. American Express Company has a twelve month low of $220.43 and a twelve month high of $329.14.

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 (EPS) for the quarter, topping analysts' consensus estimates of $3.86 by $0.22. The firm had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The business's revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted $3.49 earnings per share. As a group, research analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $3.28 annualized dividend and a yield of 1.0%. American Express's payout ratio is currently 23.02%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup reaffirmed a "neutral" rating and issued a $327.00 price target (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a report on Monday, July 14th. JPMorgan Chase & Co. boosted their price target on shares of American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Wells Fargo & Company set a $327.00 price objective on shares of American Express in a report on Wednesday, July 2nd. Finally, BTIG Research set a $277.00 target price on shares of American Express and gave the stock a "sell" rating in a research note on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, American Express has a consensus rating of "Hold" and a consensus price target of $311.05.

Insiders Place Their Bets

In other news, insider Anna Marrs sold 5,500 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 20,311 shares in the company, valued at $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the transaction, the insider directly owned 10,957 shares of the company's stock, valued at $3,391,191.50. The trade was a 82.03% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 134,219 shares of company stock worth $40,555,901. 0.20% of the stock is owned by corporate insiders.

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.