American Express Company (NYSE:AXP) Shares Purchased by Generali Investments Towarzystwo Funduszy Inwestycyjnych

Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in shares of American Express Company (NYSE:AXP) by 15.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,500 shares of the payment services company’s stock after purchasing an additional 600 shares during the quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych’s holdings in American Express were worth $1,211,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AXP. Brighton Jones LLC lifted its holdings in shares of American Express by 24.4% during the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after purchasing an additional 1,273 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in American Express by 24.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,633 shares of the payment services company’s stock valued at $781,000 after acquiring an additional 525 shares during the period. GHE LLC lifted its holdings in American Express by 2.7% in the fourth quarter. GHE LLC now owns 17,021 shares of the payment services company’s stock valued at $5,052,000 after acquiring an additional 447 shares during the period. World Investment Advisors lifted its holdings in American Express by 27.1% in the fourth quarter. World Investment Advisors now owns 6,057 shares of the payment services company’s stock valued at $1,797,000 after acquiring an additional 1,292 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its holdings in American Express by 22.6% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 612 shares of the payment services company’s stock valued at $182,000 after acquiring an additional 113 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. DZ Bank downgraded American Express from a “hold” rating to a “sell” rating in a report on Monday, July 21st. Truist Financial raised their target price on American Express from $335.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, July 9th. Redburn Atlantic raised American Express from a “sell” rating to a “neutral” rating and reduced their target price for the company from $270.00 to $255.00 in a report on Wednesday, April 23rd. JPMorgan Chase & Co. raised their target price on American Express from $260.00 to $342.00 and gave the company a “neutral” rating in a report on Friday, July 11th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a 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 company. According to data from MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus price target of $311.05.

Insider Buying and Selling at American Express

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the sale, the insider owned 10,957 shares in the company, valued at $3,391,191.50. The trade was a 82.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction dated Tuesday, May 6th. The shares were 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 owned 9,402 shares of the company’s stock, valued at $2,590,251. This trade represents a 50.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,950 shares of company stock worth $19,787,710 in the last 90 days. 0.20% of the stock is owned by company insiders.

American Express Trading Down 1.7%

American Express stock opened at $294.25 on Friday. The stock has a market cap of $204.76 billion, a PE ratio of 20.65, a P/E/G ratio of 1.56 and a beta of 1.28. The stock has a 50-day moving average price of $306.17 and a 200 day moving average price of $291.35. American Express Company has a 52 week low of $220.43 and a 52 week high of $329.14. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to analysts’ expectations of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%. The firm’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.49 EPS. Equities research analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be issued a $0.82 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $3.28 annualized dividend and a yield of 1.1%. American Express’s payout ratio is 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.