Edgar Lomax Co. VA Has $11.77 Million Stock Position in American Express Company $AXP

Key Points

• Edgar Lomax Co. VA reduced its stake in American Express by 64.6% in Q1, currently holding 43,745 shares valued at $11.77 million after selling 79,670 shares.
• Analysts' recent price targets for American Express range from $277.00 to $371.00, with the company maintaining an average rating of "Hold".
• American Express reported a quarterly EPS of $4.08, exceeding estimates, alongside a revenue increase of 9.3% year-over-year, totaling $17.86 billion.

Edgar Lomax Co. VA lowered its stake in American Express Company (NYSE:AXP - Free Report) by 64.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 43,745 shares of the payment services company's stock after selling 79,670 shares during the period. Edgar Lomax Co. VA's holdings in American Express were worth $11,770,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of AXP. Brighton Jones LLC lifted its holdings in shares of American Express by 24.4% during the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company's stock worth $1,924,000 after acquiring an additional 1,273 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in shares of American Express by 24.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,633 shares of the payment services company's stock worth $781,000 after acquiring an additional 525 shares during the period. GHE LLC lifted its holdings in shares of American Express by 2.7% during the 4th quarter. GHE LLC now owns 17,021 shares of the payment services company's stock worth $5,052,000 after acquiring an additional 447 shares during the period. Capital International Sarl lifted its stake in American Express by 54.1% in the 4th quarter. Capital International Sarl now owns 3,673 shares of the payment services company's stock valued at $1,090,000 after purchasing an additional 1,289 shares during the last quarter. Finally, Capital World Investors lifted its stake in American Express by 2.1% in the 4th quarter. Capital World Investors now owns 3,704,271 shares of the payment services company's stock valued at $1,099,391,000 after purchasing an additional 74,977 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on AXP shares. Citigroup reissued a "neutral" rating and issued a $327.00 price objective (up previously from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods raised their price target on shares of American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. BTIG Research set a $277.00 price target on shares of American Express and gave the company a "sell" rating in a research note on Monday, July 14th. Morgan Stanley raised their price target on shares of American Express from $250.00 to $311.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Finally, Truist Financial raised their price target on shares of American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, American Express currently has an average rating of "Hold" and an average price target of $311.05.

American Express Price Performance

Shares of NYSE:AXP opened at $305.36 on Monday. The company has a 50 day moving average of $307.22 and a 200 day moving average of $289.97. The stock has a market cap of $212.49 billion, a P/E ratio of 21.43, a P/E/G ratio of 1.62 and a beta of 1.28. American Express Company has a 12 month low of $220.43 and a 12 month high of $329.14. 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 issued its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. American Express's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.49 earnings per share. As a group, sell-side analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express's payout ratio is currently 23.02%.

Insiders Place Their Bets

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Laureen Seeger sold 61,721 shares of the business's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the completion of the transaction, the insider directly owned 9,001 shares of the company's stock, valued at approximately $2,677,527.47. This represents a 87.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,219 shares of company stock valued at $40,555,901 in the last quarter. Corporate insiders own 0.20% of the company's stock.

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.

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