Infusive Asset Management Inc. Purchases Shares of 12,761 American Express (NYSE:AXP)

Infusive Asset Management Inc. acquired a new stake in American Express (NYSE:AXP - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 12,761 shares of the payment services company's stock, valued at approximately $3,787,000. American Express makes up 1.7% of Infusive Asset Management Inc.'s holdings, making the stock its 27th largest holding.

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

American Express Trading Up 4.5 %

Shares of NYSE AXP traded up $11.31 during midday trading on Wednesday, hitting $263.73. 2,345,030 shares of the company traded hands, compared to its average volume of 2,860,477. American Express has a 12-month low of $220.43 and a 12-month high of $326.28. The firm has a market cap of $185.28 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.41 and a beta of 1.16. The stock has a 50-day moving average price of $270.50 and a 200 day moving average price of $287.37. 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 posted its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. The firm had revenue of $16.97 billion for the quarter, compared to the consensus estimate of $17.04 billion. American Express had a return on equity of 32.65% and a net margin of 15.36%. During the same quarter in the prior year, the business earned $3.33 EPS. As a group, analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be paid a $0.82 dividend. The ex-dividend date is Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.24%. This is an increase from American Express's previous quarterly dividend of $0.70. American Express's dividend payout ratio is presently 22.91%.

Analysts Set New Price Targets

AXP has been the subject of a number of research analyst reports. HSBC lifted their price objective on shares of American Express from $270.00 to $294.00 and gave the stock a "hold" rating in a report on Friday, January 24th. Truist Financial dropped their price target on American Express from $340.00 to $315.00 and set a "buy" rating for the company in a research note on Tuesday. Robert W. Baird upgraded American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price objective on the stock in a research report on Friday, March 14th. Baird R W upgraded American Express from a "strong sell" rating to a "hold" rating in a research report on Friday, March 14th. Finally, Monness Crespi & Hardt increased their price target on shares of American Express from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $295.05.

Insider Activity at American Express

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the transaction, the insider now directly owns 13,500 shares of the company's stock, valued at $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the firm's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the sale, the insider now owns 23,866 shares in the company, valued at $7,492,492.04. This represents a 38.88 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

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.