Gulf International Bank UK Ltd Sells 12,089 Shares of American Express Company (NYSE:AXP)

Key Points

• Gulf International Bank UK Ltd reduced its stake in American Express by 27.2%, selling 12,089 shares, resulting in holdings worth approximately $8.68 million.
• American Express reported $4.08 EPS for the last quarter, surpassing estimates of $3.86, and achieved a 9.3% year-over-year revenue increase.
• The company recently announced a quarterly dividend of $0.82 per share, reflecting a 1.1% yield with a payout ratio of 23.02%.

Gulf International Bank UK Ltd lessened its stake in shares of American Express Company (NYSE:AXP - Free Report) by 27.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,278 shares of the payment services company's stock after selling 12,089 shares during the period. Gulf International Bank UK Ltd's holdings in American Express were worth $8,684,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AXP. Nuveen LLC acquired a new stake in shares of American Express during the 1st quarter valued at $1,454,667,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in American Express by 463.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company's stock worth $1,293,259,000 after buying an additional 3,583,959 shares during the period. GAMMA Investing LLC raised its position in shares of American Express by 27,625.2% in the 1st quarter. GAMMA Investing LLC now owns 2,162,846 shares of the payment services company's stock worth $581,914,000 after acquiring an additional 2,155,045 shares in the last quarter. Capital Research Global Investors raised its position in shares of American Express by 186.3% in the 4th quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company's stock worth $886,426,000 after acquiring an additional 1,943,463 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC raised its position in shares of American Express by 346.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company's stock worth $600,072,000 after acquiring an additional 1,568,747 shares in the last quarter. Institutional investors own 84.33% of the company's stock.

American Express Stock Performance

AXP opened at $303.03 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The firm's 50-day moving average price is $306.71 and its 200 day moving average price is $290.36. American Express Company has a twelve month low of $220.43 and a twelve month high of $329.14. The firm has a market capitalization of $210.87 billion, a PE ratio of 21.27, a PEG ratio of 1.57 and a beta of 1.28.

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 analysts' consensus estimates of $3.86 by $0.22. The company had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. American Express's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.49 earnings per share. As a group, sell-side analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express's dividend payout ratio is presently 23.02%.

Insider Buying and Selling

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 transaction of $15,475,000.00. Following the completion of the transaction, the insider owned 10,957 shares in the company, valued at $3,391,191.50. The trade was a 82.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Laureen Seeger sold 16,998 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $294.83, for a total transaction of $5,011,520.34. Following the transaction, the insider owned 9,001 shares of the company's stock, valued at $2,653,764.83. This trade represents a 65.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,219 shares of company stock valued at $40,555,901 in the last ninety days. Company insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

AXP has been the subject of a number of recent research reports. Monness Crespi & Hardt lowered American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. boosted their target price on American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods upped their price objective on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Citigroup restated a "neutral" rating and set a $327.00 target price (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Finally, Morgan Stanley increased their target price on American Express from $250.00 to $311.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, American Express has an average rating of "Hold" and a consensus target price of $311.05.

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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