US Bancorp DE Buys 2,317 Shares of American Express Company (NYSE:AXP)

Key Points

• US Bancorp DE increased its stake in American Express by 0.5%, acquiring an additional 2,317 shares, bringing its total ownership to approximately $120.5 million.
• American Express announced a quarterly dividend of $0.82 per share, contributing to an annualized dividend yield of 1.1%.
• Wall Street analysts have mixed ratings on American Express, with the average rating being "Hold" and a consensus price target of $311.05.

US Bancorp DE lifted its stake in shares of American Express Company (NYSE:AXP) by 0.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 447,955 shares of the payment services company's stock after purchasing an additional 2,317 shares during the quarter. US Bancorp DE owned about 0.06% of American Express worth $120,523,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AXP. Arista Wealth Management LLC lifted its position in American Express by 1.7% in the 4th quarter. Arista Wealth Management LLC now owns 2,275 shares of the payment services company's stock valued at $675,000 after acquiring an additional 37 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in American Express by 2.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 1,620 shares of the payment services company's stock valued at $436,000 after acquiring an additional 40 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in American Express by 0.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 5,236 shares of the payment services company's stock valued at $1,362,000 after acquiring an additional 40 shares in the last quarter. Arcus Capital Partners LLC lifted its position in American Express by 0.3% in the 1st quarter. Arcus Capital Partners LLC now owns 11,623 shares of the payment services company's stock valued at $3,127,000 after acquiring an additional 40 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. lifted its position in American Express by 0.4% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 9,692 shares of the payment services company's stock valued at $2,608,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 84.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Monness Crespi & Hardt cut shares of American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Truist Financial increased their price objective on shares of American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Barclays increased their price objective on shares of American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods increased their price objective on shares of American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Finally, Bank of America upgraded shares of American Express from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $325.00 to $274.00 in a research note on Friday, April 11th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $311.05.

Insider Transactions at American Express

In related news, 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 transaction of $1,709,235.00. Following the transaction, the insider owned 20,311 shares in the company, valued at $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 10,957 shares in the company, valued at approximately $3,391,191.50. This trade represents a 82.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,950 shares of company stock worth $19,787,710. Corporate insiders own 0.20% of the company's stock.

American Express Stock Down 1.4%

Shares of NYSE:AXP opened at $299.19 on Friday. The firm has a fifty day moving average price of $305.99 and a two-hundred day moving average price of $291.53. 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 Company has a one year low of $220.43 and a one year high of $329.14. The company has a market cap of $208.20 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 1.61 and a beta of 1.25.

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, topping 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 during the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the previous year, the firm posted $3.49 earnings per share. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. Analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, July 3rd. American Express's dividend payout ratio is currently 23.02%.

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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