Generali Asset Management SPA SGR Has $18.59 Million Stock Holdings in American Express Company $AXP

Generali Asset Management SPA SGR lowered its stake in American Express Company (NYSE:AXP) by 11.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,291 shares of the payment services company’s stock after selling 7,297 shares during the quarter. Generali Asset Management SPA SGR’s holdings in American Express were worth $18,594,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in AXP. Principal Financial Group Inc. boosted its stake in American Express by 5.5% during the 1st quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company’s stock worth $183,037,000 after acquiring an additional 35,295 shares during the last quarter. Pinnacle Financial Partners Inc raised its holdings in American Express by 1.4% in the first quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company’s stock worth $45,243,000 after purchasing an additional 2,259 shares during the period. R Squared Ltd bought a new position in shares of American Express during the first quarter worth $509,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of American Express by 6.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,458 shares of the payment services company’s stock valued at $25,088,000 after buying an additional 5,693 shares in the last quarter. Finally, Navis Wealth Advisors LLC increased its position in shares of American Express by 368.7% in the 1st quarter. Navis Wealth Advisors LLC now owns 3,548 shares of the payment services company’s stock valued at $955,000 after buying an additional 2,791 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Express

In other American Express news, 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 transaction, the insider owned 10,957 shares of the company’s stock, valued at $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the sale, the insider owned 123,613 shares in the company, valued at $40,343,574.81. This represents a 15.98% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is owned by company insiders.

American Express Price Performance

NYSE:AXP opened at $332.62 on Wednesday. American Express Company has a 52-week low of $220.43 and a 52-week high of $349.19. The company has a market cap of $231.46 billion, a P/E ratio of 23.34, a P/E/G ratio of 1.69 and a beta of 1.29. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The stock’s 50-day simple moving average is $323.37 and its 200 day simple moving average is $300.99.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating 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 firm had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same period last year, the company earned $3.49 earnings per share. The business’s revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, October 10th. American Express’s dividend payout ratio is 23.02%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AXP. HSBC set a $295.00 target price on American Express and gave the company a “hold” rating in a research note on Friday. Truist Financial boosted their price objective on American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Citigroup restated a “neutral” rating and set a $327.00 target price (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a report on Monday, July 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Nine research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $323.60.

American Express Company 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.