RB Capital Management LLC Acquires 1,414 Shares of American Express Company $AXP

Key Points

• RB Capital Management LLC increased its holdings in American Express by 18.5% in the 2nd quarter, purchasing an additional 1,414 shares to reach a total of 9,050 shares valued at approximately $2.89 million.
• American Express reported quarterly earnings of $4.08 EPS, surpassing expectations, with a revenue of $17.86 billion, marking a year-over-year increase of 9.3%.
• The company announced a quarterly dividend of $0.82, representing an annualized yield of 1.0%, with a payout ratio of 23.02%.

RB Capital Management LLC grew its holdings in American Express Company (NYSE:AXP) by 18.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,050 shares of the payment services company's stock after purchasing an additional 1,414 shares during the quarter. RB Capital Management LLC's holdings in American Express were worth $2,887,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AXP. Nuveen LLC bought a new stake in shares of American Express in the 1st quarter valued at about $1,454,667,000. Wellington Management Group LLP raised its holdings in shares of American Express by 13.7% in the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock valued at $4,849,777,000 after purchasing an additional 2,168,445 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of American Express by 27,625.2% in the 1st quarter. GAMMA Investing LLC now owns 2,162,846 shares of the payment services company's stock valued at $581,914,000 after purchasing an additional 2,155,045 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of American Express by 25.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company's stock valued at $1,278,711,000 after purchasing an additional 965,221 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of American Express in the 4th quarter valued at about $187,337,000. Institutional investors own 84.33% of the company's stock.

American Express Stock Down 1.2%

AXP stock opened at $325.48 on Friday. The firm's fifty day simple moving average is $313.29 and its 200-day simple moving average is $291.91. The company has a market capitalization of $226.50 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 1.75 and a beta of 1.28. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. American Express Company has a 12 month low of $220.43 and a 12 month high of $332.46.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.86 by $0.22. The business had revenue of $17.86 billion for the quarter, compared to the consensus estimate of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.49 EPS. As a group, equities research analysts forecast 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 was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Thursday, July 3rd. American Express's payout ratio is currently 23.02%.

Wall Street Analyst Weigh In

AXP has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of American Express from $360.00 to $371.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Citigroup reaffirmed a "neutral" rating and issued a $327.00 price objective (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. DZ Bank downgraded shares of American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Finally, Barclays boosted their target price on shares of American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, American Express currently has a consensus rating of "Hold" and an average target price of $313.45.

Insider Transactions 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 value of $18,360,145.87. Following the completion of the transaction, the insider directly owned 9,001 shares in the company, valued at $2,677,527.47. The trade was a 87.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the completion of the transaction, the insider owned 123,613 shares of the company's stock, valued at approximately $40,343,574.81. This represents a 15.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 269,996 shares of company stock worth $85,261,270. Insiders own 0.20% of the company's stock.

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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