American Express Company $AXP Shares Sold by Maj Invest Holding A S

Maj Invest Holding A S reduced its position in American Express Company (NYSE:AXP) by 10.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 466,239 shares of the payment services company’s stock after selling 52,040 shares during the period. American Express accounts for about 5.3% of Maj Invest Holding A S’s holdings, making the stock its 9th largest holding. Maj Invest Holding A S’s holdings in American Express were worth $154,868,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Nordea Investment Management AB boosted its holdings in shares of American Express by 2.2% during the second quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock worth $721,525,000 after purchasing an additional 49,593 shares during the last quarter. ZEGA Investments LLC acquired a new stake in American Express during the 3rd quarter worth approximately $1,080,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of American Express by 0.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,598,743 shares of the payment services company’s stock valued at $531,038,000 after acquiring an additional 4,080 shares during the period. Dempze Nancy E lifted its stake in shares of American Express by 210.2% during the second quarter. Dempze Nancy E now owns 3,459 shares of the payment services company’s stock worth $1,103,000 after purchasing an additional 2,344 shares in the last quarter. Finally, Reliant Investment Management LLC boosted its holdings in American Express by 1.9% in the 2nd quarter. Reliant Investment Management LLC now owns 26,189 shares of the payment services company’s stock worth $8,354,000 after acquiring an additional 480 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of AXP opened at $363.30 on Tuesday. The firm has a market cap of $250.26 billion, a PE ratio of 24.38, a PEG ratio of 1.52 and a beta of 1.15. American Express Company has a twelve month low of $220.43 and a twelve month high of $387.49. The firm’s 50 day moving average price is $368.48 and its 200 day moving average price is $342.91. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($15.41). The company had revenue of ($17,139.00) million for the quarter, compared to the consensus estimate of $18.91 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%. As a group, research analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, January 2nd. American Express’s dividend payout ratio is currently 22.01%.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of recent analyst reports. Evercore ISI set a $400.00 price target on shares of American Express in a research report on Tuesday, January 6th. Wolfe Research started coverage on American Express in a research report on Monday, December 8th. They set a “peer perform” rating for the company. BTIG Research restated a “sell” rating and issued a $328.00 price target on shares of American Express in a research note on Monday, January 12th. Credit Suisse Group set a $328.00 price objective on shares of American Express in a research note on Monday, January 12th. Finally, Truist Financial upped their target price on American Express from $395.00 to $420.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Nine analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $353.95.

Insider Transactions at American Express

In other American Express news, CMO Elizabeth Rutledge sold 50,000 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $360.21, for a total value of $18,010,500.00. Following the transaction, the chief marketing officer directly owned 85,577 shares in the company, valued at $30,825,691.17. The trade was a 36.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is owned by corporate insiders.

American Express Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.