Shell Asset Management Co. Grows Stock Position in American Express Company $AXP

Key Points

• Shell Asset Management Co. increased its stake in American Express by 41.9% during the second quarter, now holding 32,476 shares worth approximately $10.36 million.
• American Express reported a quarterly earnings per share (EPS) of $4.08, surpassing estimates and reflecting a 9.3% year-over-year revenue increase.
• A quarterly dividend of $0.82 has been announced, with payment set for November 10th, providing stockholders with an annualized yield of 1.0%.

Shell Asset Management Co. raised its stake in American Express Company (NYSE:AXP) by 41.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 32,476 shares of the payment services company's stock after purchasing an additional 9,596 shares during the quarter. Shell Asset Management Co.'s holdings in American Express were worth $10,359,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new stake in shares of American Express in the first quarter worth about $29,000. Hughes Financial Services LLC bought a new stake in shares of American Express during the first quarter valued at approximately $35,000. 1 North Wealth Services LLC bought a new stake in shares of American Express during the 1st quarter valued at $37,000. Chung Wu Investment Group LLC purchased a new stake in American Express in the second quarter worth about $37,000. Finally, IAG Wealth Partners LLC purchased a new stake in shares of American Express in the 1st quarter worth approximately $40,000. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Up 0.5%

Shares of AXP stock opened at $331.93 on Tuesday. American Express Company has a 1-year low of $220.43 and a 1-year high of $349.19. The stock's fifty day moving average price is $320.43 and its 200 day moving average price is $299.06. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. The company has a market cap of $230.98 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 1.75 and a beta of 1.29.

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. 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 prior year, the firm earned $3.49 EPS. The business's revenue for the quarter was up 9.3% on a year-over-year basis. On average, research analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be given 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 is Friday, October 10th. American Express's dividend payout ratio is 23.02%.

Wall Street Analysts Forecast Growth

AXP has been the subject of several analyst reports. Evercore ISI raised their price target on shares of American Express from $330.00 to $365.00 and gave the company an "in-line" rating in a research report on Tuesday, September 30th. JPMorgan Chase & Co. boosted their price target on shares of American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Barclays increased their target price on American Express from $297.00 to $336.00 and gave the company a "cautious" rating in a research report on Monday. DZ Bank lowered American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Finally, Truist Financial upped their price target on shares of American Express from $348.00 to $375.00 and gave the company a "buy" rating in a report on Monday, September 15th. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $321.90.

Insider Transactions at American Express

In related news, insider Laureen Seeger sold 61,721 shares of the company's stock in a transaction dated 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 sale, the insider owned 9,001 shares of the company's stock, valued at approximately $2,677,527.47. This represents a 87.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the sale, the insider owned 10,957 shares of the company's stock, valued at $3,391,191.50. This represents a 82.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 269,996 shares of company stock valued at $85,261,270. Company 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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