American Express Company $AXP Position Decreased by Avanza Fonder AB

Key Points

• Avanza Fonder AB has reduced its holdings in American Express Company by 12.7%, now owning 36,702 shares after selling 5,353 shares during the second quarter.
• American Express reported earnings of $4.08 per share for the quarter, exceeding analysts' expectations of $3.86, along with a revenue increase to $17.86 billion, up 9.3% from the previous year.
• Institutional investors hold 84.33% of American Express stock, indicating significant interest from large financial entities in the company.

Avanza Fonder AB decreased its position in shares of American Express Company (NYSE:AXP - Free Report) by 12.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,702 shares of the payment services company's stock after selling 5,353 shares during the quarter. Avanza Fonder AB's holdings in American Express were worth $11,707,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new position in shares of American Express during the 1st quarter valued at about $29,000. Nexus Investment Management ULC acquired a new position in shares of American Express during the 1st quarter valued at about $34,000. Hughes Financial Services LLC acquired a new position in shares of American Express during the 1st quarter valued at about $35,000. 1 North Wealth Services LLC acquired a new position in shares of American Express during the 1st quarter valued at about $37,000. Finally, IAG Wealth Partners LLC acquired a new position in shares of American Express during the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 84.33% of the company's stock.

Insider Activity

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the sale, the insider owned 10,957 shares in the company, valued at $3,391,191.50. The trade was a 82.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $5,011,520.34. Following 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 disclosure for this sale can be found here. Insiders have sold a total of 269,996 shares of company stock worth $85,261,270 in the last quarter. Corporate insiders own 0.20% of the company's stock.

American Express Stock Up 0.1%

American Express stock traded up $0.39 during mid-day trading on Tuesday, hitting $341.37. The company had a trading volume of 1,609,447 shares, compared to its average volume of 2,903,613. The stock has a market cap of $237.55 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 1.81 and a beta of 1.28. American Express Company has a 1 year low of $220.43 and a 1 year high of $349.19. The business has a fifty day moving average of $315.10 and a 200 day moving average of $294.01. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the prior year, the company earned $3.49 earnings per share. The company's revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a research report on Monday, July 14th. Citigroup reaffirmed a "neutral" rating and issued a $327.00 target price (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Truist Financial upped their target price on shares of American Express from $348.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, September 15th. JPMorgan Chase & Co. upped their target price on shares of American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of American Express from $371.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, July 21st. 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $315.20.

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.