Vident Advisory LLC Increases Stock Position in American Express Company $AXP

Key Points

• Vident Advisory LLC increased its holdings in American Express by 48.9%, acquiring an additional 5,230 shares, bringing their total to 15,932 shares valued at approximately $4.29 million.
• Insider trading activity has seen significant sales, including Glenda G. Mcneal selling 50,000 shares for $15.48 million, resulting in an 82.03% decrease in their position.
• American Express reported quarterly earnings of $4.08 EPS, surpassing analysts' estimates, with a revenue increase of 9.3% year-over-year to $17.86 billion.

Vident Advisory LLC boosted its stake in shares of American Express Company (NYSE:AXP - Free Report) by 48.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,932 shares of the payment services company's stock after acquiring an additional 5,230 shares during the quarter. Vident Advisory LLC's holdings in American Express were worth $4,287,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AXP. Financial Engines Advisors L.L.C. raised its position in shares of American Express by 4.7% during the first quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company's stock worth $208,000 after acquiring an additional 35 shares during the last quarter. Tyler Stone Wealth Management grew its holdings in American Express by 4.8% during the 1st quarter. Tyler Stone Wealth Management now owns 792 shares of the payment services company's stock worth $213,000 after acquiring an additional 36 shares during the period. Hemington Wealth Management raised its position in shares of American Express by 2.3% during the 1st quarter. Hemington Wealth Management now owns 1,661 shares of the payment services company's stock valued at $446,000 after acquiring an additional 38 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of 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 worth $436,000 after purchasing an additional 40 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its stake in shares of American Express by 0.8% during the first quarter. Cornerstone Planning Group LLC now owns 5,236 shares of the payment services company's stock worth $1,362,000 after purchasing an additional 40 shares during the period. 84.33% of the stock is owned by institutional investors.

Insider Transactions at American Express

In other news, insider Anna Marrs sold 5,500 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of the business'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 directly owned 10,957 shares in the company, valued at $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,219 shares of company stock worth $40,555,901. Insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. BTIG Research set a $277.00 price objective on American Express and gave the company a "sell" rating in a report on Monday, July 14th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Truist Financial upped their target price on shares of American Express from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. William Blair reaffirmed an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Finally, Monness Crespi & Hardt downgraded shares of American Express from a "buy" rating to a "neutral" rating in a report on Tuesday, July 15th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $311.05.

American Express Price Performance

NYSE:AXP traded up $7.10 during mid-day trading on Thursday, reaching $330.81. The stock had a trading volume of 1,699,483 shares, compared to its average volume of 2,897,888. American Express Company has a 12 month low of $220.43 and a 12 month high of $332.07. The stock has a 50-day simple moving average of $312.66 and a two-hundred day simple moving average of $290.80. 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 stock has a market capitalization of $230.21 billion, a PE ratio of 23.21, a P/E/G ratio of 1.75 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last issued its 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. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter in the previous year, the firm earned $3.49 earnings per share. The business's quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd were given a $0.82 dividend. The ex-dividend date was Thursday, July 3rd. This represents a $3.28 annualized dividend and a yield of 1.0%. American Express's dividend payout ratio (DPR) is currently 23.02%.

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.