American Express Company $AXP Shares Sold by UMB Bank n.a.

Key Points

• UMB Bank n.a. reduced its holdings in American Express Company by 3.3% in the second quarter, resulting in ownership of 21,841 shares valued at approximately $6.97 million.
• Several other investors, including MorganRosel Wealth Management LLC and Nexus Investment Management ULC, reported new stakes in American Express, reflecting ongoing institutional interest with 84.33% of the stock owned by institutions.
• American Express shares are trading at $340.41 with analysts projecting a consensus rating of Hold and an average price target of $315.20.

UMB Bank n.a. lessened its position in American Express Company (NYSE:AXP - Free Report) by 3.3% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,841 shares of the payment services company's stock after selling 741 shares during the quarter. UMB Bank n.a.'s holdings in American Express were worth $6,967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of American Express by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock worth $12,334,299,000 after purchasing an additional 605,900 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of American Express by 13.7% in the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock worth $4,849,777,000 after purchasing an additional 2,168,445 shares during the last quarter. Nuveen LLC bought a new stake in shares of American Express in the first quarter worth about $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in American Express by 1.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company's stock worth $1,370,489,000 after acquiring an additional 78,538 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company's stock worth $1,278,711,000 after acquiring an additional 965,221 shares during the last quarter. Institutional investors own 84.33% of the company's stock.

American Express Stock Performance

AXP stock traded up $0.11 during mid-day trading on Tuesday, hitting $341.09. The company had a trading volume of 1,336,381 shares, compared to its average volume of 2,902,228. The firm has a market cap of $237.35 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The stock's fifty day moving average price is $315.10 and its two-hundred day moving average price is $294.01. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.86 by $0.22. The firm 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 was up 9.3% compared to the same quarter last year. During the same period last year, the firm posted $3.49 earnings per share. On average, analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other American Express news, insider Laureen Seeger sold 16,998 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total transaction of $5,011,520.34. Following the completion of the sale, the insider directly owned 9,001 shares of the company's stock, valued at $2,653,764.83. This trade represents a 65.38% 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 that occurred on 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 owned 20,311 shares of the company's stock, valued at $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock worth $85,261,270 in the last ninety days. Corporate insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barclays upped their target price on American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Truist Financial raised their target price on American Express from $348.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Monness Crespi & Hardt downgraded American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on American Express from $371.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, July 21st. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a report on Monday, July 14th. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, American Express currently has a consensus rating of "Hold" and a consensus target price of $315.20.

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.