Forvis Mazars Wealth Advisors LLC Buys 4,408 Shares of American Express Company $AXP

Key Points

• Forvis Mazars Wealth Advisors LLC increased its stake in American Express by 41.3%, acquiring 4,408 additional shares, bringing its total to 15,074 shares valued at approximately $4.06 million.
• American Express reported a net revenue of $17.86 billion for the last quarter, surpassing the expected $17.70 billion and achieving a significant year-over-year revenue increase of 9.3%.
• The company declared a $0.82 quarterly dividend, resulting in an annualized yield of 1.1% and a payout ratio of 23.02%.

Forvis Mazars Wealth Advisors LLC increased its position in American Express Company (NYSE:AXP - Free Report) by 41.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,074 shares of the payment services company's stock after buying an additional 4,408 shares during the period. Forvis Mazars Wealth Advisors LLC's holdings in American Express were worth $4,056,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of AXP. Vanguard Group Inc. increased its position in American Express by 1.3% during the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock worth $12,334,299,000 after purchasing an additional 605,900 shares during the last quarter. Northern Trust Corp boosted its stake in American Express by 16.3% during the 4th quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company's stock valued at $2,025,632,000 after acquiring an additional 955,811 shares during the last quarter. Nuveen LLC bought a new position in American Express during the 1st quarter valued at $1,454,667,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in American Express by 8.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,015,269 shares of the payment services company's stock valued at $1,488,482,000 after acquiring an additional 408,283 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company's stock worth $1,278,711,000 after purchasing an additional 965,221 shares during the period. Institutional investors and hedge funds own 84.33% of the company's stock.

Insiders Place Their Bets

In other news, insider Laureen Seeger sold 61,721 shares of the firm's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total value of $18,360,145.87. Following the transaction, the insider directly owned 9,001 shares in the company, valued at $2,677,527.47. This trade represents a 87.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anna Marrs sold 5,500 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the sale, the insider directly owned 20,311 shares in the company, valued at $6,312,049.47. The trade was a 21.31% decrease in their position. The disclosure for this sale can be found here. In 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.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BTIG Research set a $277.00 target price on shares of American Express and gave the stock a "sell" rating in a report on Monday, July 14th. Keefe, Bruyette & Woods increased their price objective 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. Citigroup reaffirmed a "neutral" rating and issued a $327.00 price objective (up previously from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Truist Financial increased their price objective 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. Finally, Morgan Stanley increased their price objective 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. Eight research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $311.05.

American Express Stock Down 0.3%

Shares of American Express stock traded down $0.9370 during midday trading on Tuesday, hitting $306.1130. The company's stock had a trading volume of 2,215,219 shares, compared to its average volume of 2,366,112. The firm has a market capitalization of $213.02 billion, a P/E ratio of 21.48, a PEG ratio of 1.63 and a beta of 1.28. The stock has a 50-day simple moving average of $307.33 and a 200-day simple moving average of $289.90. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. American Express Company has a 1-year low of $220.43 and a 1-year high of $329.14.

American Express (NYSE:AXP - Get Free Report) last issued 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. The business had revenue of $17.86 billion during the quarter, compared to analysts' expectations of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.American Express's revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.49 earnings per share. As a group, sell-side analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $3.28 annualized dividend and a yield of 1.1%. 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.