Voleon Capital Management LP Invests $9.58 Million in American Express Company $AXP

Key Points

• Voleon Capital Management LP has invested approximately $9.58 million in American Express, acquiring 35,587 shares during the 1st quarter, which now represents about 0.7% of its investment portfolio.
• American Express recently announced earnings of $4.08 per share, exceeding analysts' expectations, with revenues showing a year-over-year increase of 9.3%.
• The company declared a quarterly dividend of $0.82, which translates to an annualized dividend yield of 1.0%, and has a payout ratio of 23.02%.

Voleon Capital Management LP acquired a new position in shares of American Express Company (NYSE:AXP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,587 shares of the payment services company's stock, valued at approximately $9,575,000. American Express comprises approximately 0.7% of Voleon Capital Management LP's holdings, making the stock its 26th largest position.

Several other institutional investors have also recently bought and sold shares of the business. Investment Management Corp VA ADV bought a new stake in shares of American Express in the 4th quarter worth $29,000. MorganRosel Wealth Management LLC bought a new stake in shares of American Express in the 1st quarter worth $29,000. Nexus Investment Management ULC bought a new stake in shares of American Express in the 1st quarter worth $34,000. Hughes Financial Services LLC bought a new stake in shares of American Express in the 1st quarter worth $35,000. Finally, 1 North Wealth Services LLC bought a new stake in shares of American Express in the 1st quarter worth $37,000. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Trading Down 0.3%

Shares of American Express stock traded down $0.88 on Wednesday, hitting $323.46. The stock had a trading volume of 1,846,535 shares, compared to its average volume of 2,295,366. The stock's 50-day simple moving average is $313.32 and its two-hundred day simple moving average is $291.47. American Express Company has a one year low of $220.43 and a one year high of $332.46. The stock has a market cap of $225.09 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.72 and a beta of 1.28. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, topping analysts' consensus estimates of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The company had revenue of $17.86 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same quarter last year, the firm posted $3.49 earnings per share. The firm's revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were paid a $0.82 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. American Express's dividend payout ratio (DPR) is presently 23.02%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on AXP shares. DZ Bank lowered shares of American Express from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. Wells Fargo & Company upped their price objective on shares of American Express from $350.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Citigroup reaffirmed a "neutral" rating and set a $327.00 price objective (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Barclays increased their price target on shares of American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $313.45.

Insider Buying and Selling

In other American Express news, insider Laureen Seeger sold 16,998 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $294.83, for a total transaction of $5,011,520.34. Following the completion of the transaction, the insider owned 9,001 shares of the company's stock, valued at approximately $2,653,764.83. This trade represents a 65.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the firm'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 directly owned 10,957 shares of the company's stock, valued at $3,391,191.50. This represents a 82.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,996 shares of company stock valued at $85,261,270 over the last three months. Insiders own 0.20% of the company's stock.

American Express 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.