Meeder Asset Management Inc. Has $9.02 Million Stock Holdings in American Express (NYSE:AXP)

Meeder Asset Management Inc. lifted its holdings in American Express (NYSE:AXP - Free Report) by 1,240.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,270 shares of the payment services company's stock after purchasing an additional 30,788 shares during the period. Meeder Asset Management Inc.'s holdings in American Express were worth $9,023,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Kennebec Savings Bank purchased a new position in shares of American Express in the third quarter worth approximately $29,000. DHJJ Financial Advisors Ltd. increased its position in shares of American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company's stock worth $38,000 after acquiring an additional 49 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of American Express in the third quarter worth approximately $46,000. Capital Performance Advisors LLP purchased a new position in shares of American Express in the third quarter worth approximately $48,000. Finally, POM Investment Strategies LLC purchased a new position in shares of American Express in the second quarter worth approximately $42,000. Institutional investors and hedge funds own 84.33% of the company's stock.

Wall Street Analyst Weigh In

AXP has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of American Express from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Hsbc Global Res cut shares of American Express from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 8th. BTIG Research cut shares of American Express from a "neutral" rating to a "sell" rating and set a $230.00 price target for the company. in a report on Tuesday, October 8th. Bank of America raised their price target on shares of American Express from $263.00 to $265.00 and gave the stock a "neutral" rating in a report on Tuesday, September 17th. Finally, Morgan Stanley raised their price target on shares of American Express from $248.00 to $252.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $253.09.

American Express Stock Performance

Shares of AXP stock remained flat at $285.54 on Tuesday. The stock had a trading volume of 2,494,392 shares, compared to its average volume of 2,901,408. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $201.15 billion, a PE ratio of 21.01, a PEG ratio of 1.63 and a beta of 1.21. The stock's 50 day simple moving average is $273.81 and its 200-day simple moving average is $252.10. American Express has a one year low of $161.73 and a one year high of $296.83.

American Express (NYSE:AXP - Get Free Report) last posted its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion during the quarter, compared to analysts' expectations of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. American Express's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $3.30 EPS. Sell-side analysts anticipate that American Express will post 13.47 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 0.98%. American Express's dividend payout ratio is currently 20.60%.

Insider Transactions at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now owns 109,691 shares of the company's stock, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anre D. Williams sold 77,887 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares of the company's stock, valued at approximately $30,176,150.56. The trade was a 41.09 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.11% 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.