GAM Holding AG Takes $1.31 Million Position in American Express Company (NYSE:AXP)

GAM Holding AG bought a new stake in American Express Company (NYSE:AXP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,862 shares of the payment services company's stock, valued at approximately $1,308,000.

Several other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC grew its position in shares of American Express by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 11,752,084 shares of the payment services company's stock valued at $3,484,312,000 after purchasing an additional 268,572 shares during the period. Fisher Asset Management LLC boosted its position in American Express by 1.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company's stock worth $2,600,277,000 after acquiring an additional 95,927 shares during the last quarter. Northern Trust Corp boosted its position in American Express by 16.3% during the fourth quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company's stock worth $2,025,632,000 after acquiring an additional 955,811 shares during the last quarter. Norges Bank acquired a new position in American Express during the fourth quarter worth about $1,785,867,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in American Express by 8.9% during the fourth 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 worth $1,488,482,000 after acquiring an additional 408,283 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.

Insider Transactions at American Express

In other American Express news, insider Howard Grosfield sold 9,450 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the completion of the transaction, the insider now owns 9,402 shares in the company, valued at $2,590,251. The trade was a 50.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Glenda G. Mcneal sold 3,019 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the transaction, the insider now owns 10,919 shares of the company's stock, valued at $2,889,822.54. This trade represents a 21.66% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

American Express Stock Performance

Shares of AXP stock opened at $298.50 on Friday. The firm's 50 day moving average price is $283.36 and its 200-day moving average price is $288.68. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express Company has a one year low of $220.43 and a one year high of $326.28. The firm has a market cap of $209.13 billion, a P/E ratio of 20.84, a P/E/G ratio of 1.45 and a beta of 1.25.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping the consensus estimate of $3.47 by $0.17. American Express had a net margin of 15.31% and a return on equity of 32.48%. The firm had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. During the same period in the prior year, the business posted $3.33 EPS. As a group, equities research analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a $0.82 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $3.28 annualized dividend and a dividend yield of 1.10%. American Express's dividend payout ratio is currently 22.91%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AXP. Redburn Atlantic upgraded shares of American Express from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $270.00 to $255.00 in a research report on Wednesday, April 23rd. Baird R W upgraded shares of American Express from a "strong sell" rating to a "hold" rating in a research report on Friday, March 14th. Truist Financial boosted their price target on shares of American Express from $315.00 to $335.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. BTIG Research lowered their price target on shares of American Express from $272.00 to $240.00 and set a "sell" rating on the stock in a research report on Monday, April 21st. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $310.00 price target on shares of American Express in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, American Express currently has a consensus rating of "Hold" and a consensus price target of $296.05.

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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