RB Capital Management LLC Has $2.05 Million Position in American Express Company $AXP

Key Points

• RB Capital Management LLC increased its position in American Express by 12.4%, now owning 7,636 shares valued at $2.05 million.
• American Express recently reported $4.08 earnings per share for its last quarter, exceeding analysts' expectations of $3.86.
• The company declared a quarterly dividend of $0.82, resulting in an annualized dividend yield of 1.0%.

RB Capital Management LLC raised its position in American Express Company (NYSE:AXP) by 12.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,636 shares of the payment services company's stock after buying an additional 845 shares during the quarter. RB Capital Management LLC's holdings in American Express were worth $2,054,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of American Express by 1.3% in the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock valued at $12,334,299,000 after acquiring an additional 605,900 shares in the last quarter. Wellington Management Group LLP boosted its holdings in 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 during the period. Nuveen LLC acquired a new position in shares of American Express during the 1st quarter worth approximately $1,454,667,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of American Express by 8.9% during the fourth 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 worth $1,488,482,000 after purchasing an additional 408,283 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of American Express by 25.5% in the first 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 buying an additional 965,221 shares in the last quarter. Institutional investors own 84.33% of the company's stock.

American Express Stock Up 1.5%

Shares of NYSE AXP opened at $320.61 on Wednesday. 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 company has a market cap of $223.10 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 1.67 and a beta of 1.28. American Express Company has a 12 month low of $220.43 and a 12 month high of $329.14. The stock has a 50-day moving average price of $309.48 and a two-hundred day moving average price of $289.89.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 14.78% and a return on equity of 32.87%. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company posted $3.49 EPS. As a group, analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

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

Insider Activity at American Express

In related news, 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 sale, the insider owned 20,311 shares in the company, valued at $6,312,049.47. The trade was a 21.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Laureen Seeger sold 16,998 shares of the 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 transaction, the insider owned 9,001 shares of the company's stock, valued at $2,653,764.83. This represents a 65.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,219 shares of company stock valued at $40,555,901 in the last 90 days. 0.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AXP shares. Keefe, Bruyette & Woods boosted their price target on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Morgan Stanley upped their target price on American Express from $250.00 to $311.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Wells Fargo & Company set a $327.00 target price on American Express in a report on Wednesday, July 2nd. Truist Financial boosted 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. Finally, DZ Bank downgraded shares of American Express from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.

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