Canada Pension Plan Investment Board Lowers Stock Position in American Express (NYSE:AXP)

Canada Pension Plan Investment Board trimmed its holdings in shares of American Express (NYSE:AXP - Free Report) by 48.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 374,345 shares of the payment services company's stock after selling 350,268 shares during the period. Canada Pension Plan Investment Board owned approximately 0.05% of American Express worth $111,102,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Newbridge Financial Services Group Inc. bought a new stake in American Express in the 4th quarter worth approximately $832,000. World Investment Advisors LLC raised its position in shares of American Express by 430.6% during the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company's stock valued at $1,292,000 after purchasing an additional 3,867 shares during the period. Keybank National Association OH boosted its holdings in American Express by 3.7% in the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company's stock worth $103,858,000 after buying an additional 12,364 shares during the period. LVM Capital Management Ltd. MI increased its stake in American Express by 3.1% in the 4th quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company's stock worth $25,626,000 after buying an additional 2,557 shares in the last quarter. Finally, Edge Capital Group LLC raised its holdings in American Express by 20.9% during the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company's stock valued at $1,915,000 after acquiring an additional 1,113 shares during the period. 84.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. William Blair reissued an "outperform" rating on shares of American Express in a report on Monday. Robert W. Baird upgraded shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price target on the stock in a research note on Friday, March 14th. Keefe, Bruyette & Woods boosted their target price on American Express from $350.00 to $360.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Morgan Stanley lifted their price objective on American Express from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Monday, January 27th. Finally, Evercore ISI boosted their target price on shares of American Express from $315.00 to $344.00 and gave the stock an "in-line" rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $295.05.

Insider Transactions at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the business's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value of $4,765,295.26. Following the sale, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael J. Angelakis purchased 3,700 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 3,700 shares in the company, valued at $998,593. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.20% of the company's stock.

American Express Stock Performance

Shares of AXP stock traded up $9.54 during mid-day trading on Wednesday, reaching $261.96. The stock had a trading volume of 1,756,080 shares, compared to its average volume of 2,858,127. 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 has a 1-year low of $220.43 and a 1-year high of $326.28. The firm has a market cap of $184.04 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.41 and a beta of 1.16. The business's fifty day moving average is $270.50 and its 200-day moving average is $287.37.

American Express (NYSE:AXP - Get Free Report) last issued its earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. American Express had a return on equity of 32.65% and a net margin of 15.36%. The firm had revenue of $16.97 billion for the quarter, compared to the consensus estimate of $17.04 billion. During the same quarter in the prior year, the business earned $3.33 earnings per share. On average, research analysts forecast that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a $0.82 dividend. The ex-dividend date is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a yield of 1.25%. This is a positive change from American Express's previous quarterly dividend of $0.70. American Express's dividend payout ratio (DPR) is presently 22.91%.

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.