Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in American Express Company (NYSE:AXP)

Key Points

• Zurcher Kantonalbank increased its stake in American Express by 0.7%, holding 330,315 shares valued at $88.87 million.
• American Express reported earnings of $4.08 per share, surpassing estimates and showing a 9.3% revenue growth year-over-year.
• Recent insider transactions include Glenda Mcneal and Howard Grosfield selling significant amounts of their shares, with Mcneal's sale marking a 21.66% decrease in her ownership.

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of American Express Company (NYSE:AXP - Free Report) by 0.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 330,315 shares of the payment services company's stock after buying an additional 2,451 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in American Express were worth $88,871,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Investment Management Corp VA ADV purchased a new stake in American Express in the fourth quarter worth $29,000. MorganRosel Wealth Management LLC purchased a new position 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 during the 1st quarter valued at about $34,000. Hughes Financial Services LLC bought a new position in American Express in the first quarter worth approximately $35,000. Finally, IAG Wealth Partners LLC bought a new stake in American Express during the first quarter valued at about $40,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of American Express stock traded down $2.24 on Wednesday, reaching $306.30. 1,289,096 shares of the stock were exchanged, compared to its average volume of 2,970,776. 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 Company has a twelve month low of $220.43 and a twelve month high of $329.14. The firm has a market capitalization of $213.15 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.65 and a beta of 1.25. The business has a 50 day moving average price of $305.40 and a two-hundred day moving average price of $291.44.

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

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express's dividend payout ratio (DPR) is presently 23.02%.

Insider Activity at American Express

In other news, insider Howard Grosfield sold 9,450 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the sale, the insider directly owned 9,402 shares in the company, valued at $2,590,251. The trade was a 50.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. DZ Bank downgraded shares of American Express from a "hold" rating to a "sell" rating in a report on Monday, July 21st. Wells Fargo & Company set a $327.00 price target on shares of American Express in a report on Wednesday, July 2nd. Bank of America raised shares of American Express from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $325.00 to $274.00 in a research report on Friday, April 11th. 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. Finally, Royal Bank Of Canada reissued an "outperform" rating on shares of American Express in a research report on Monday, July 14th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $311.05.

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.