Triglav Skladi D.O.O. Sells 8,500 Shares of American Express Company (NYSE:AXP)

Key Points

• Triglav Skladi D.O.O. has reduced its stake in American Express by 30.9%, selling 8,500 shares during the first quarter, leaving it with 19,000 shares valued at approximately $5.1 million.
• American Express recently reported $4.08 earnings per share, surpassing analysts' expectations and reflecting a year-over-year revenue increase of 9.3%.
• Insiders have sold significant amounts of American Express stock recently, with one insider selling 50,000 shares for nearly $15.5 million, indicating potential shifts in internal confidence.

Triglav Skladi D.O.O. decreased its position in shares of American Express Company (NYSE:AXP) by 30.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,000 shares of the payment services company's stock after selling 8,500 shares during the quarter. Triglav Skladi D.O.O.'s holdings in American Express were worth $5,112,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of AXP. Investment Management Corp VA ADV bought a new position in shares of American Express during the 4th quarter valued at about $29,000. MorganRosel Wealth Management LLC purchased a new position in American Express during the first quarter valued at $29,000. Nexus Investment Management ULC purchased a new position in American Express in the first quarter worth about $34,000. Hughes Financial Services LLC bought a new position in shares of American Express in the first quarter worth approximately $35,000. Finally, IAG Wealth Partners LLC bought a new position in shares of American Express in the first quarter worth approximately $40,000. Hedge funds and other institutional investors own 84.33% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AXP shares. Truist Financial boosted their price target on American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a research note on Monday, July 14th. Wells Fargo & Company set a $327.00 target price on American Express in a report on Wednesday, July 2nd. Redburn Atlantic raised American Express from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Finally, 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 report on Monday, July 21st. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $311.05.

American Express Price Performance

Shares of AXP opened at $303.03 on Wednesday. American Express Company has a twelve month low of $220.43 and a twelve month high of $329.14. The stock's 50 day moving average is $306.71 and its two-hundred day moving average is $290.36. The firm has a market capitalization of $210.87 billion, a PE ratio of 21.27, a P/E/G ratio of 1.57 and a beta of 1.28. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80.

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 (EPS) for the quarter, beating analysts' consensus estimates of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The company had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same period last year, the firm earned $3.49 EPS. The company's revenue for the quarter was up 9.3% on a year-over-year basis. Research analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express's dividend payout ratio is 23.02%.

Insider Buying and Selling

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the transaction, the insider owned 10,957 shares in the company, valued at $3,391,191.50. The trade was a 82.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anna Marrs sold 5,500 shares of the stock in a transaction dated 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 approximately $6,312,049.47. This trade represents a 21.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 134,219 shares of company stock valued at $40,555,901. Company insiders own 0.20% of the company's stock.

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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