Capital Research Global Investors boosted its position in American Express (NYSE:AXP - Free Report) by 186.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,986,710 shares of the payment services company's stock after acquiring an additional 1,943,463 shares during the period. Capital Research Global Investors owned 0.42% of American Express worth $886,426,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in AXP. Virtu Financial LLC purchased a new position in American Express during the third quarter worth about $1,296,000. SOA Wealth Advisors LLC. raised its holdings in American Express by 2.7% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 8,031 shares of the payment services company's stock worth $2,178,000 after purchasing an additional 209 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of American Express by 3.1% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,423 shares of the payment services company's stock valued at $657,000 after purchasing an additional 73 shares during the period. World Investment Advisors LLC boosted its stake in American Express by 430.6% during the third quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company's stock worth $1,292,000 after acquiring an additional 3,867 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its stake in shares of American Express by 293.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 31,428 shares of the payment services company's stock worth $8,523,000 after acquiring an additional 23,432 shares during the last quarter. 84.33% of the stock is owned by institutional investors.
American Express Stock Performance
Shares of AXP traded up $7.30 during midday trading on Thursday, hitting $267.44. 2,695,763 shares of the stock traded hands, compared to its average volume of 2,858,357. American Express has a 1-year low of $220.43 and a 1-year high of $326.28. The firm has a market capitalization of $187.89 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The business's 50 day moving average price is $269.48 and its two-hundred day moving average price is $287.18. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.
American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The company had revenue of $16.97 billion for the quarter, compared to analysts' expectations of $17.04 billion. During the same quarter in the previous year, the company posted $3.33 EPS. Equities research analysts predict that American Express will post 15.33 EPS for the current fiscal year.
American Express Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. This is a positive change from American Express's previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.23%. American Express's dividend payout ratio is currently 22.91%.
Insider Activity at American Express
In other American Express news, Director Michael J. Angelakis purchased 3,700 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the purchase, the director now directly owns 3,700 shares in the company, valued at approximately $998,593. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the completion of the sale, the insider now directly owns 13,500 shares of the company's stock, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several research firms have recently weighed in on AXP. The Goldman Sachs Group lowered their price target on American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Citigroup lowered their price objective on shares of American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Evercore ISI increased their price objective on shares of American Express from $315.00 to $344.00 and gave the stock an "in-line" rating in a research report on Monday, January 27th. Redburn Atlantic raised shares of American Express from a "sell" rating to a "neutral" rating and reduced their target price for the stock from $270.00 to $255.00 in a research report on Wednesday. Finally, Wells Fargo & Company increased their target price on American Express from $355.00 to $370.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, American Express presently has an average rating of "Hold" and a consensus price target of $295.05.
Check Out Our Latest Research Report on AXP
About American Express
(
Free Report)
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.
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