MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $1 Million Stock Position in American Express (NYSE:AXP)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of American Express (NYSE:AXP) by 266.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,718 shares of the payment services company's stock after purchasing an additional 2,704 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in American Express were worth $1,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Boston Financial Mangement LLC increased its stake in American Express by 0.9% in the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company's stock valued at $1,189,000 after purchasing an additional 34 shares during the period. Trillium Asset Management LLC increased its stake in American Express by 1.4% in the fourth quarter. Trillium Asset Management LLC now owns 2,449 shares of the payment services company's stock valued at $727,000 after purchasing an additional 35 shares during the period. Zions Bancorporation N.A. increased its stake in American Express by 2.4% in the fourth quarter. Zions Bancorporation N.A. now owns 1,510 shares of the payment services company's stock valued at $448,000 after purchasing an additional 35 shares during the period. Capital Advisors Ltd. LLC increased its stake in American Express by 2.8% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,317 shares of the payment services company's stock valued at $391,000 after purchasing an additional 36 shares during the period. Finally, Arista Wealth Management LLC increased its stake in American Express by 1.7% in the fourth quarter. Arista Wealth Management LLC now owns 2,275 shares of the payment services company's stock valued at $675,000 after purchasing an additional 37 shares during the period. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Performance

NYSE AXP opened at $287.62 on Monday. American Express has a fifty-two week low of $220.43 and a fifty-two week high of $326.28. The stock has a market cap of $201.50 billion, a price-to-earnings ratio of 20.53, a price-to-earnings-growth ratio of 1.41 and a beta of 1.25. The business has a fifty day moving average of $278.89 and a 200-day moving average of $288.83. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. The company had revenue of $16.97 billion during the quarter, compared to analysts' expectations of $17.04 billion. American Express had a return on equity of 32.65% and a net margin of 15.36%. During the same period in the previous year, the firm posted $3.33 earnings per share. As a group, analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AXP has been the topic of a number of recent research reports. Robert W. Baird upgraded shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price objective on the stock in a research note on Friday, March 14th. JPMorgan Chase & Co. lifted their price objective on shares of American Express from $244.00 to $260.00 and gave the company a "neutral" rating in a research note on Monday, April 21st. Bank of America upgraded shares of American Express from a "neutral" rating to a "buy" rating and dropped their price objective for the company from $325.00 to $274.00 in a research note on Friday, April 11th. 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 note on Friday, May 23rd. Finally, The Goldman Sachs Group dropped their price target on shares of American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, American Express currently has a consensus rating of "Hold" and an average price target of $296.05.

Insider Activity at American Express

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

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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