American Express Company $AXP Shares Purchased by Comerica Bank

Key Points

• Comerica Bank increased its stake in American Express by 2.1%, acquiring an additional 3,376 shares for a total of 167,832 shares valued at $45,155,000.
• Institutional investors collectively own 84.33% of American Express's shares, with notable increases in holdings from Vanguard Group and Wellington Management.
• American Express declared a quarterly dividend of $0.82, representing a 1.0% yield, with the dividend payout ratio at 23.02%.

Comerica Bank raised its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 167,832 shares of the payment services company's stock after purchasing an additional 3,376 shares during the quarter. Comerica Bank's holdings in American Express were worth $45,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Financial Engines Advisors L.L.C. increased its holdings in shares of American Express by 4.7% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock valued at $208,000 after purchasing an additional 35 shares in the last quarter. Tyler Stone Wealth Management increased its holdings in shares of American Express by 4.8% during the 1st quarter. Tyler Stone Wealth Management now owns 792 shares of the payment services company's stock valued at $213,000 after purchasing an additional 36 shares in the last quarter. Hemington Wealth Management increased its holdings in shares of American Express by 2.3% during the 1st quarter. Hemington Wealth Management now owns 1,661 shares of the payment services company's stock valued at $446,000 after purchasing an additional 38 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of American Express by 2.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 1,620 shares of the payment services company's stock valued at $436,000 after purchasing an additional 40 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in American Express by 0.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 5,236 shares of the payment services company's stock worth $1,362,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 84.33% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of American Express from $360.00 to $371.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. DZ Bank lowered shares of American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. Truist Financial boosted their price target on shares of American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Morgan Stanley boosted their price target on shares of American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $311.05.

Insider Transactions at American Express

In other news, insider Anna Marrs sold 5,500 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the sale, the insider owned 20,311 shares of the company's stock, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laureen Seeger sold 16,998 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total transaction of $5,011,520.34. Following the completion of the sale, the insider directly owned 9,001 shares in the company, 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. Over the last quarter, insiders have sold 134,219 shares of company stock valued at $40,555,901. 0.20% of the stock is currently owned by corporate insiders.

American Express Trading Up 1.4%

Shares of AXP traded up $4.65 during mid-day trading on Thursday, reaching $327.11. The stock had a trading volume of 2,193,929 shares, compared to its average volume of 2,899,776. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. American Express Company has a 52-week low of $220.43 and a 52-week high of $329.14. The business's fifty day moving average is $310.00 and its 200 day moving average is $290.12. The firm has a market cap of $227.63 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 1.70 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 analysts' consensus estimates of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the prior year, the firm posted $3.49 earnings per share. American Express's quarterly 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 firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express's dividend payout ratio is currently 23.02%.

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.