Czech National Bank Has $43.15 Million Position in American Express Company $AXP

Key Points

• The Czech National Bank increased its holdings in American Express Company by 6.1% during the second quarter, bringing its total to 135,286 shares valued at approximately $43.15 million.
• Insider transactions indicate significant selling activity, with CEO Stephen J. Squeri selling 112,272 shares worth over $37 million, resulting in a 54.74% decrease in his position.
• Recent analyst reports have raised American Express's price targets, with Deutsche Bank and Wells Fargo increasing their target to $375.00, reflecting growing market confidence in the company's performance.

Czech National Bank lifted its stake in shares of American Express Company (NYSE:AXP - Free Report) by 6.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 135,286 shares of the payment services company's stock after purchasing an additional 7,811 shares during the period. Czech National Bank's holdings in American Express were worth $43,154,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of AXP. Investment Management Corp VA ADV bought a new position in shares of American Express during the fourth quarter worth about $29,000. MorganRosel Wealth Management LLC bought a new position in shares of American Express during the first quarter worth about $29,000. Nexus Investment Management ULC bought a new position in shares of American Express during the first quarter worth about $34,000. Hughes Financial Services LLC bought a new position in shares of American Express during the first quarter worth about $35,000. Finally, 1 North Wealth Services LLC bought a new position in shares of American Express during the first quarter worth about $37,000. Institutional investors own 84.33% of the company's stock.

Insider Transactions at American Express

In other American Express news, insider Laureen Seeger sold 61,721 shares of American Express stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total value of $18,360,145.87. Following the transaction, the insider owned 9,001 shares in the company, valued at approximately $2,677,527.47. The trade was a 87.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the transaction, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. The trade was a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 269,996 shares of company stock valued at $85,261,270 in the last 90 days. 0.20% of the stock is owned by corporate insiders.

American Express Price Performance

NYSE:AXP traded down $1.26 during midday trading on Friday, hitting $340.41. 8,629,534 shares of the stock were exchanged, compared to its average volume of 2,346,006. American Express Company has a one year low of $220.43 and a one year high of $344.36. The company has a market capitalization of $236.88 billion, a price-to-earnings ratio of 23.89, a P/E/G ratio of 1.81 and a beta of 1.28. The business has a 50-day moving average price of $314.68 and a two-hundred day moving average price of $293.34. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping 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 previous year, the company earned $3.49 earnings per share. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. Sell-side analysts predict that American Express Company will post 15.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AXP. DZ Bank cut shares of American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. Wells Fargo & Company raised their target price on shares of American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. JPMorgan Chase & Co. raised their target price 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. Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a report on Monday, July 14th. Finally, Truist Financial raised their target price on shares of American Express from $348.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, September 15th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $315.20.

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.