Strategy Asset Managers LLC Has $980,000 Holdings in American Express Company (NYSE:AXP)

Key Points

• Strategy Asset Managers LLC increased its stake in American Express by 119.7%, now holding 3,642 shares valued at approximately $980,000.
• American Express reported a quarterly earnings per share of $4.08, surpassing analyst estimates and showing a 9.3% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.82, reflecting an annualized dividend yield of 1.1%.

Strategy Asset Managers LLC grew its stake in American Express Company (NYSE:AXP - Free Report) by 119.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,642 shares of the payment services company's stock after buying an additional 1,984 shares during the quarter. Strategy Asset Managers LLC's holdings in American Express were worth $980,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in shares of American Express by 5.5% in the first quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company's stock valued at $183,037,000 after buying an additional 35,295 shares during the period. Pinnacle Financial Partners Inc boosted its holdings in shares of American Express by 1.4% in the first quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company's stock valued at $45,243,000 after buying an additional 2,259 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of American Express by 6.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company's stock valued at $25,088,000 after buying an additional 5,693 shares during the period. Navis Wealth Advisors LLC lifted its position in shares of American Express by 368.7% in the first quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company's stock worth $955,000 after purchasing an additional 2,791 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of American Express by 8.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 95,443 shares of the payment services company's stock worth $25,679,000 after purchasing an additional 7,822 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Price Performance

Shares of AXP opened at $296.76 on Wednesday. The firm has a market capitalization of $206.51 billion, a PE ratio of 20.83, a PEG ratio of 1.58 and a beta of 1.28. The company's 50-day moving average is $306.49 and its 200-day moving average is $291.14. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $329.14. 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 (NYSE:AXP - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The company's revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.49 earnings per share. Equities analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be given a $0.82 dividend. 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 dividend payout ratio is presently 23.02%.

Insider Activity

In related news, insider Anna Marrs sold 5,500 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the transaction, the insider directly owned 20,311 shares in the company, valued at approximately $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the completion of the transaction, the insider owned 10,957 shares in the company, valued at $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AXP shares. William Blair reissued an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Truist Financial boosted their price objective on shares of American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a research report on Monday, July 14th. JPMorgan Chase & Co. boosted their price objective on shares of American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Finally, Barclays boosted their price objective 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. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, American Express presently has an average rating of "Hold" and an average price target of $311.05.

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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