National Bank of Canada FI Increases Holdings in American Express Company (NYSE:AXP)

Key Points

• National Bank of Canada FI increased its holdings in American Express Company by 9.2%, now owning 593,152 shares valued at approximately $159.6 million.
• American Express reported a net income of $4.08 EPS for the last quarter, exceeding expectations and marking a 9.3% revenue increase year-over-year.
• The company announced a $0.82 quarterly dividend, with an upcoming ex-dividend date of July 3rd, resulting in an annualized yield of 1.1%.

National Bank of Canada FI raised its position in American Express Company (NYSE:AXP - Free Report) by 9.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 593,152 shares of the payment services company's stock after purchasing an additional 49,993 shares during the period. National Bank of Canada FI owned 0.08% of American Express worth $159,592,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AXP. Arista Wealth Management LLC boosted its position in American Express by 1.7% during the 4th quarter. Arista Wealth Management LLC now owns 2,275 shares of the payment services company's stock valued at $675,000 after buying an additional 37 shares during the period. Hemington Wealth Management grew its stake in shares of American Express by 2.3% in the first quarter. Hemington Wealth Management now owns 1,661 shares of the payment services company's stock worth $446,000 after purchasing an additional 38 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of American Express by 2.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 1,620 shares of the payment services company's stock worth $436,000 after buying an additional 40 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in American Express by 0.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 5,236 shares of the payment services company's stock worth $1,362,000 after purchasing an additional 40 shares in the last quarter. Finally, Arcus Capital Partners LLC lifted its holdings in American Express by 0.3% in the first quarter. Arcus Capital Partners LLC now owns 11,623 shares of the payment services company's stock worth $3,127,000 after buying an additional 40 shares during the period. Hedge funds and other institutional investors own 84.33% of the company's stock.

American Express Price Performance

Shares of NYSE AXP opened at $294.82 on Friday. 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 business has a 50 day simple moving average of $306.52 and a 200-day simple moving average of $291.05. American Express Company has a twelve month low of $220.43 and a twelve month high of $329.14. The company has a market capitalization of $205.16 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.57 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last released 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. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the previous year, the firm earned $3.49 EPS. The business's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities research analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be paid a $0.82 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 1.1%. American Express's dividend payout ratio (DPR) is presently 23.02%.

Analyst Ratings Changes

AXP has been the topic of a number of recent analyst reports. Monness Crespi & Hardt cut shares of American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Redburn Atlantic raised American Express from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $270.00 to $255.00 in a report on Wednesday, April 23rd. William Blair reiterated an "outperform" rating on shares of American Express in a report on Wednesday, July 2nd. Truist Financial increased their price objective on shares of American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $311.05.

Insider Activity at American Express

In related news, insider Laureen Seeger sold 61,721 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction that occurred 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 sale, the insider directly owned 20,311 shares in the company, valued at $6,312,049.47. The trade was a 21.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,219 shares of company stock worth $40,555,901. 0.20% of the stock is owned by insiders.

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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