American Express Company $AXP Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its position in American Express Company (NYSE:AXP) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,593 shares of the payment services company’s stock after purchasing an additional 174 shares during the quarter. Assenagon Asset Management S.A.’s holdings in American Express were worth $8,802,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. MorganRosel Wealth Management LLC bought a new stake in shares of American Express in the 1st quarter valued at approximately $29,000. Nexus Investment Management ULC bought a new stake in shares of American Express in the 1st quarter worth approximately $34,000. Hughes Financial Services LLC bought a new stake in shares of American Express in the 1st quarter worth approximately $35,000. 1 North Wealth Services LLC bought a new position in shares of American Express during the 1st quarter worth about $37,000. Finally, IAG Wealth Partners LLC acquired a new position in shares of American Express in the 1st quarter worth approximately $40,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Up 0.2%

AXP stock opened at $341.74 on Wednesday. American Express Company has a twelve month low of $220.43 and a twelve month high of $349.19. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $237.81 billion, a PE ratio of 23.98, a PEG ratio of 1.81 and a beta of 1.28. The stock has a 50-day simple moving average of $315.72 and a two-hundred day simple moving average of $294.34.

American Express (NYSE:AXP) last issued 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. The firm had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.49 EPS. On average, equities analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AXP has been the topic of a number of recent research reports. Truist Financial raised their price objective on shares of American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Barclays upped their price objective on American Express from $249.00 to $297.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 8th. Wells Fargo & Company raised their price objective on shares of American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. William Blair restated an “outperform” rating on shares of American Express in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. lifted their target price on American Express from $260.00 to $342.00 and gave the company a “neutral” rating in a research report on Friday, July 11th. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $315.20.

Insiders Place Their Bets

In related news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm’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 sale, the insider owned 123,613 shares in the company, valued at approximately $40,343,574.81. This trade represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Anna Marrs sold 5,500 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the transaction, the insider owned 20,311 shares in the company, valued at $6,312,049.47. The trade was a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock valued at $85,261,270 in the last 90 days. Corporate 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.