iA Global Asset Management Inc. decreased its position in shares of American Express (NYSE:AXP - Free Report) by 37.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,015 shares of the payment services company's stock after selling 6,462 shares during the period. iA Global Asset Management Inc.'s holdings in American Express were worth $3,269,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of American Express by 0.8% during the third quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company's stock valued at $3,104,735,000 after purchasing an additional 86,100 shares in the last quarter. FMR LLC lifted its stake in shares of American Express by 8.5% in the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company's stock valued at $2,984,208,000 after buying an additional 866,110 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of American Express by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company's stock valued at $2,600,277,000 after purchasing an additional 95,927 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of American Express by 5.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company's stock valued at $1,249,415,000 after acquiring an additional 239,173 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in American Express by 0.8% during the third quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company's stock worth $1,074,168,000 after buying an additional 33,193 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at American Express
In other news, insider Raymond Joabar sold 15,179 shares of the business's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the transaction, the insider now directly owns 23,866 shares in the company, valued at $7,492,492.04. The trade was a 38.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total value of $3,027,327.45. Following the sale, the insider now directly owns 13,500 shares of the company's stock, valued at $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. 0.12% of the stock is owned by insiders.
American Express Stock Up 0.5 %
NYSE:AXP traded up $1.37 on Tuesday, reaching $279.23. The stock had a trading volume of 2,767,483 shares, compared to its average volume of 2,626,006. The company has a 50-day moving average of $297.92 and a 200 day moving average of $288.99. The stock has a market cap of $196.17 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. American Express has a 12-month low of $214.51 and a 12-month high of $326.28. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.
American Express (NYSE:AXP - Get Free Report) last issued its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. On average, research analysts predict that American Express will post 15.33 earnings per share for the current year.
American Express Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.17%. This is a boost from American Express's previous quarterly dividend of $0.70. American Express's payout ratio is currently 23.41%.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on AXP. JPMorgan Chase & Co. lifted their price objective on shares of American Express from $301.00 to $307.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. StockNews.com lowered American Express from a "buy" rating to a "hold" rating in a research report on Monday, January 27th. BTIG Research raised their price objective on shares of American Express from $266.00 to $270.00 and gave the stock a "sell" rating in a report on Friday, January 24th. Monness Crespi & Hardt raised their price target on American Express from $330.00 to $355.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, Wells Fargo & Company lifted their price objective on American Express from $355.00 to $370.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $302.57.
Check Out Our Latest Report on American Express
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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