Invesco Ltd. Sells 300,949 Shares of American Express Company (NYSE:AXP)

Key Points

• Invesco Ltd. has reduced its holdings in American Express, selling 300,949 shares, resulting in a 6.5% decrease in its ownership during the first quarter, now owning 4,324,951 shares valued at approximately $1.16 billion.
• Insider Glenda G. Mcneal sold 50,000 shares of American Express for around $15.48 million, marking an 82.03% decrease in her ownership, while Laureen Seeger sold 61,721 shares, decreasing her ownership by 87.27%.
• American Express recently reported a quarterly EPS of $4.08, beating estimates, with revenues up 9.3% year-over-year, while declaring a quarterly dividend of $0.82.

Invesco Ltd. trimmed its holdings in shares of American Express Company (NYSE:AXP) by 6.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,324,951 shares of the payment services company's stock after selling 300,949 shares during the quarter. Invesco Ltd. owned 0.62% of American Express worth $1,163,628,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Berger Financial Group Inc grew its holdings in American Express by 3.6% during the 1st quarter. Berger Financial Group Inc now owns 2,187 shares of the payment services company's stock worth $588,000 after acquiring an additional 77 shares during the last quarter. Fiduciary Family Office LLC bought a new position in shares of American Express during the first quarter worth about $2,331,000. True North Advisors LLC raised its position in shares of American Express by 12.0% during the first quarter. True North Advisors LLC now owns 1,448 shares of the payment services company's stock worth $390,000 after acquiring an additional 155 shares during the last quarter. Frank Rimerman Advisors LLC raised its position in shares of American Express by 1.4% during the first quarter. Frank Rimerman Advisors LLC now owns 12,346 shares of the payment services company's stock worth $3,322,000 after acquiring an additional 172 shares during the last quarter. Finally, Koss Olinger Consulting LLC bought a new position in shares of American Express during the first quarter worth about $404,000. 84.33% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the transaction, the insider directly owned 10,957 shares in the company, valued at approximately $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laureen Seeger sold 61,721 shares of the business's stock in a transaction dated 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 owned 9,001 shares of the company's stock, valued at approximately $2,677,527.47. The trade was a 87.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,219 shares of company stock worth $40,555,901. 0.20% of the stock is owned by corporate insiders.

American Express Stock Performance

Shares of American Express stock opened at $297.41 on Friday. The firm has a market capitalization of $206.96 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28. The business's fifty day simple moving average is $306.59 and its 200 day simple moving average is $290.91. 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 Company has a 12 month low of $220.43 and a 12 month 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.86 by $0.22. The firm had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%. The business's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.49 earnings per share. As a group, analysts anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

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

Analyst Upgrades and Downgrades

AXP has been the subject of a number of analyst reports. William Blair restated an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Monness Crespi & Hardt cut American Express from a "buy" rating to a "neutral" rating in a research note on Tuesday, July 15th. Citigroup reaffirmed a "neutral" rating and set a $327.00 target price (up previously from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Barclays raised their target price on American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Truist Financial raised their target price on American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $311.05.

About American Express

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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