Commerzbank Aktiengesellschaft FI Lowers Holdings in American Express Company $AXP

Key Points

• Commerzbank Aktiengesellschaft FI reduced its holdings in American Express by 16.2% in Q2, selling 4,845 shares and bringing its total to 25,042 shares worth approximately $7.99 million.
• Several other investors, including Callan Family Office and TFR Capital, have significantly increased their stakes in American Express, indicating varying investor sentiments.
• Analysts have mixed views on American Express, with nine recommending Buy, thirteen rating Hold, and three advising Sell, while price targets range from $311 to $365.

Commerzbank Aktiengesellschaft FI cut its holdings in American Express Company (NYSE:AXP) by 16.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,042 shares of the payment services company's stock after selling 4,845 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in American Express were worth $7,988,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Callan Family Office LLC lifted its holdings in American Express by 86.1% in the 2nd quarter. Callan Family Office LLC now owns 23,434 shares of the payment services company's stock worth $7,475,000 after purchasing an additional 10,842 shares in the last quarter. TFR Capital LLC. increased its stake in American Express by 19.0% in the 2nd quarter. TFR Capital LLC. now owns 1,673 shares of the payment services company's stock worth $534,000 after acquiring an additional 267 shares during the last quarter. Leo Wealth LLC increased its stake in American Express by 21.8% in the 2nd quarter. Leo Wealth LLC now owns 5,551 shares of the payment services company's stock worth $1,771,000 after acquiring an additional 992 shares during the last quarter. US Bancorp DE increased its stake in American Express by 2.7% in the 2nd quarter. US Bancorp DE now owns 459,936 shares of the payment services company's stock worth $146,711,000 after acquiring an additional 11,981 shares during the last quarter. Finally, Baxter Bros Inc. increased its stake in American Express by 5.7% in the 2nd quarter. Baxter Bros Inc. now owns 83,173 shares of the payment services company's stock worth $26,531,000 after acquiring an additional 4,521 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on AXP shares. Morgan Stanley lifted their price objective on American Express from $311.00 to $362.00 and gave the stock an "equal weight" rating in a research note on Monday, September 29th. DZ Bank downgraded American Express from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. UBS Group lifted their price objective on American Express from $330.00 to $340.00 and gave the stock a "neutral" rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their price objective on American Express from $343.00 to $355.00 and gave the stock a "neutral" rating in a research note on Tuesday. Finally, Evercore ISI lifted their price objective on American Express from $330.00 to $365.00 and gave the stock an "in-line" rating in a research note on Tuesday, September 30th. Nine investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, American Express has a consensus rating of "Hold" and an average price target of $323.55.

American Express Stock Performance

NYSE AXP opened at $324.09 on Friday. The company has a market cap of $225.53 billion, a P/E ratio of 22.74, a P/E/G ratio of 1.72 and a beta of 1.29. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The business's 50 day moving average price is $321.72 and its 200-day moving average price is $299.74. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $349.19.

American Express (NYSE:AXP - Get Free Report) last released its earnings results 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. The firm had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The company's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.49 EPS. Sell-side analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, October 10th. American Express's dividend payout ratio is 23.02%.

Insider Buying and Selling

In other American Express news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the transaction, the insider owned 123,613 shares of the company's stock, valued at $40,343,574.81. This represents a 15.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the transaction, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. This trade represents a 82.03% 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 over the last ninety days. Corporate insiders own 0.20% of the company's stock.

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.

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