Raiffeisen Bank International AG Acquires 3,426 Shares of American Express Company (NYSE:AXP)

Key Points

• Raiffeisen Bank International AG increased its stake in American Express by 2.1%, acquiring 3,426 shares and holding a total of 169,119 shares worth $44.9 million as of the end of Q1.
• American Express reported a Q2 EPS of $4.08, exceeding estimates and reflecting a 9.3% year-over-year revenue growth to $17.86 billion.
• The company announced a quarterly dividend of $0.82 per share, representing an annual yield of 1.1%, with a payout ratio of 23.02%.

Raiffeisen Bank International AG boosted its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 169,119 shares of the payment services company's stock after purchasing an additional 3,426 shares during the quarter. Raiffeisen Bank International AG's holdings in American Express were worth $44,896,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AXP. Northern Trust Corp raised its stake in shares of American Express by 16.3% in the fourth quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company's stock valued at $2,025,632,000 after acquiring an additional 955,811 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in American Express by 8.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,015,269 shares of the payment services company's stock valued at $1,488,482,000 after purchasing an additional 408,283 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in American Express by 463.3% in 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 valued at $1,293,259,000 after purchasing an additional 3,583,959 shares during the last quarter. Capital World Investors boosted its stake in American Express by 2.1% in the fourth quarter. Capital World Investors now owns 3,704,271 shares of the payment services company's stock worth $1,099,391,000 after purchasing an additional 74,977 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of American Express by 4.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,052,115 shares of the payment services company's stock worth $905,864,000 after purchasing an additional 126,030 shares during the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Trading Down 1.7%

NYSE AXP opened at $294.25 on Friday. American Express Company has a 52 week low of $220.43 and a 52 week high of $329.14. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The stock's 50 day moving average price is $306.17 and its two-hundred day moving average price is $291.35. The stock has a market capitalization of $204.76 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.56 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $17.70 billion. During the same quarter in the prior year, the company posted $3.49 earnings per share. The firm's revenue was up 9.3% on a year-over-year basis. As a group, analysts anticipate that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is 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%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AXP shares. DZ Bank downgraded shares of American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Deutsche Bank Aktiengesellschaft lifted their target price on American Express from $371.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Truist Financial upped their price target on American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Monness Crespi & Hardt lowered American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Finally, Citigroup restated a "neutral" rating and set a $327.00 target price (up from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $311.05.

Insiders Place Their Bets

In other news, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction that occurred 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 sale, the insider owned 10,957 shares of the company's stock, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anna Marrs sold 5,500 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,950 shares of company stock valued at $19,787,710 in the last 90 days. 0.20% of the stock is currently 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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