Korea Investment CORP Boosts Stake in American Express Company $AXP

Key Points

• Korea Investment CORP increased its stake in American Express by 6.9% in Q1, owning 693,036 shares valued at $186.46 million.
• American Express reported $4.08 earnings per share for the latest quarter, surpassing expectations, with a revenue of $17.86 billion, up 9.3% year-over-year.
• The company announced a quarterly dividend of $0.82 per share, yielding 1.1%, with a payout ratio of 23.02% as of the last reporting.

Korea Investment CORP lifted its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 693,036 shares of the payment services company's stock after acquiring an additional 44,852 shares during the period. Korea Investment CORP owned approximately 0.10% of American Express worth $186,461,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AXP. Investment Management Corp VA ADV bought a new stake in shares of American Express in the fourth quarter valued at $29,000. MorganRosel Wealth Management LLC bought a new stake in American Express in the 1st quarter valued at about $29,000. Nexus Investment Management ULC purchased a new stake in American Express during the first quarter valued at about $34,000. Hughes Financial Services LLC purchased a new stake in American Express during the first quarter valued at about $35,000. Finally, IAG Wealth Partners LLC bought a new position in American Express during the first quarter worth about $40,000. 84.33% of the stock is owned by institutional investors.

American Express Stock Performance

American Express stock traded up $10.7930 during midday trading on Friday, hitting $318.9630. The stock had a trading volume of 2,783,740 shares, compared to its average volume of 2,924,648. The company has a market capitalization of $221.96 billion, a PE ratio of 22.38, a P/E/G ratio of 1.63 and a beta of 1.28. 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 fifty day moving average is $307.86 and its two-hundred day moving average is $290.08. American Express Company has a 52-week low of $220.43 and a 52-week 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 company had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $3.49 EPS. On average, research analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were given a dividend of $0.82 per share. The ex-dividend date was Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. American Express's payout ratio is 23.02%.

Insider Activity

In other American Express news, insider Laureen Seeger sold 16,998 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total value of $5,011,520.34. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the 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 completion of the sale, the insider owned 20,311 shares in the company, valued at approximately $6,312,049.47. The trade was a 21.31% decrease in their position. The disclosure for this sale can be found here. Over 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 company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on 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 set a $327.00 price target (up previously from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Truist Financial boosted their price target on shares of American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a research note on Monday, July 14th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, American Express has an average rating of "Hold" and a consensus price target 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.