Generate Investment Management Ltd Acquires Shares of 15,000 American Express Company $AXP

Key Points

• Generate Investment Management Ltd acquired 15,000 shares of American Express Company, valued at approximately $4.8 million, as reported in its recent 13F filing.
• American Express recently declared a quarterly dividend of $0.82 per share, with an annualized dividend yield of 1.0% due on November 10th.
• The company's latest earnings report revealed an EPS of $4.08, beating analyst expectations, and a revenue of $17.86 billion, up 9.3% year-over-year.

Generate Investment Management Ltd acquired a new stake in shares of American Express Company (NYSE:AXP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,000 shares of the payment services company's stock, valued at approximately $4,785,000.

Several other hedge funds have also bought and sold shares of AXP. MorganRosel Wealth Management LLC bought a new stake in shares of American Express during the first quarter worth about $29,000. Hughes Financial Services LLC bought a new position in American Express in the 1st quarter valued at about $35,000. 1 North Wealth Services LLC acquired a new position in American Express during the 1st quarter valued at about $37,000. IAG Wealth Partners LLC bought a new stake in American Express during the 1st quarter worth approximately $40,000. Finally, PFS Partners LLC raised its stake in shares of American Express by 104.0% in the first quarter. PFS Partners LLC now owns 153 shares of the payment services company's stock worth $41,000 after purchasing an additional 78 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Stock Up 0.6%

Shares of American Express stock opened at $342.07 on Monday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. American Express Company has a 52-week low of $220.43 and a 52-week high of $349.19. The company's 50 day moving average price is $317.46 and its 200-day moving average price is $296.32. The stock has a market capitalization of $238.04 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 1.81 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating analysts' consensus estimates of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm's revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.49 EPS. Equities research analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, October 10th. American Express's payout ratio is currently 23.02%.

Insider Buying and Selling at American Express

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the company's stock in a transaction that occurred 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 owned 10,957 shares of the company's stock, valued at $3,391,191.50. This represents a 82.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the sale, the insider owned 123,613 shares in the company, valued at approximately $40,343,574.81. This represents a 15.98% 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 worth $85,261,270 over the last three months. 0.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AXP. William Blair reaffirmed an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a report on Monday, July 14th. Monness Crespi & Hardt downgraded shares of American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Wells Fargo & Company boosted their price target 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. Finally, Truist Financial increased their price objective on shares of American Express from $348.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, American Express presently has an average rating of "Hold" and an average price target 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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