Fifth Third Bancorp Has $59.94 Million Stock Position in American Express Company $AXP

Key Points

• Fifth Third Bancorp increased its position in American Express by 1.5% during the second quarter, holding 187,921 shares valued at $59.94 million.
• Insider sales included Glenda G. Mcneal selling 50,000 shares for approximately $15.48 million, resulting in an 82.03% decrease in her ownership.
• American Express reported a quarterly earnings per share of $4.08, surpassing estimates and indicating a 9.3% revenue increase year-over-year.

Fifth Third Bancorp increased its position in shares of American Express Company (NYSE:AXP - Free Report) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 187,921 shares of the payment services company's stock after buying an additional 2,769 shares during the quarter. Fifth Third Bancorp's holdings in American Express were worth $59,943,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital Asset Advisory Services LLC raised its stake in American Express by 2.8% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company's stock worth $384,000 after buying an additional 32 shares during the period. DLK Investment Management LLC raised its stake in American Express by 3.8% during the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company's stock worth $277,000 after buying an additional 32 shares during the period. Financial Engines Advisors L.L.C. raised its stake in 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 worth $208,000 after buying an additional 35 shares during the period. Modern Wealth Management LLC raised its stake in shares of American Express by 0.7% in the first quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company's stock worth $1,324,000 after purchasing an additional 35 shares during the last quarter. Finally, Greenfield Savings Bank raised its stake in shares of American Express by 0.3% in the second quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company's stock worth $4,184,000 after purchasing an additional 35 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American Express

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the transaction, the insider directly owned 10,957 shares of the company's stock, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the transaction, the insider directly owned 123,613 shares of the company's stock, valued at approximately $40,343,574.81. This trade represents a 15.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 269,996 shares of company stock valued at $85,261,270 in the last quarter. Insiders own 0.20% of the company's stock.

American Express Price Performance

Shares of NYSE AXP opened at $341.74 on Wednesday. The stock has a fifty day simple moving average of $315.72 and a two-hundred day simple moving average of $294.34. American Express Company has a 1-year low of $220.43 and a 1-year high of $349.19. The firm has a market cap of $237.81 billion, a price-to-earnings ratio of 23.98, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. 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 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 analyst estimates of $17.70 billion. During the same period in the prior year, the company earned $3.49 earnings per share. American Express's revenue was up 9.3% compared to the same quarter last year. Analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AXP shares. JPMorgan Chase & Co. increased their price objective on American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. William Blair reissued an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. Wells Fargo & Company increased their price objective on American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Deutsche Bank Aktiengesellschaft increased their price objective on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Finally, Truist Financial increased their price objective on American Express from $348.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Eight 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. According to MarketBeat.com, the stock presently has an average 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.

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