MetLife Investment Management LLC Increases Position in American Express (NYSE:AXP)

MetLife Investment Management LLC grew its holdings in shares of American Express (NYSE:AXP - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 156,659 shares of the payment services company's stock after buying an additional 1,045 shares during the quarter. MetLife Investment Management LLC's holdings in American Express were worth $46,495,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AXP. Norinchukin Bank The grew its stake in American Express by 4.1% in the fourth quarter. Norinchukin Bank The now owns 35,345 shares of the payment services company's stock worth $10,490,000 after purchasing an additional 1,393 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of American Express during the 4th quarter worth $10,480,000. Beck Mack & Oliver LLC increased its stake in shares of American Express by 0.9% during the fourth quarter. Beck Mack & Oliver LLC now owns 395,693 shares of the payment services company's stock valued at $117,438,000 after buying an additional 3,433 shares during the period. Capital International Inc. CA raised its holdings in shares of American Express by 37.1% in the fourth quarter. Capital International Inc. CA now owns 19,503 shares of the payment services company's stock valued at $5,788,000 after acquiring an additional 5,279 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in American Express by 186.3% in the fourth quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company's stock worth $886,426,000 after acquiring an additional 1,943,463 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of NYSE:AXP traded up $7.83 during trading on Wednesday, hitting $260.25. The stock had a trading volume of 3,871,549 shares, compared to its average volume of 2,859,005. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a 12-month low of $220.43 and a 12-month high of $326.28. The stock has a market capitalization of $182.83 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The stock has a 50-day simple moving average of $270.50 and a two-hundred day simple moving average of $287.37.

American Express (NYSE:AXP - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $17.04 billion. American Express had a net margin of 15.36% and a return on equity of 32.65%. During the same quarter in the prior year, the business earned $3.33 earnings per share. On average, equities research analysts expect that American Express will post 15.33 earnings per share for the current fiscal 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 given a dividend of $0.82 per share. This is a boost from American Express's previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Friday, April 4th. American Express's dividend payout ratio (DPR) is currently 22.91%.

Insider Buying and Selling at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now owns 23,866 shares of the company's stock, valued at approximately $7,492,492.04. This represents a 38.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Angelakis acquired 3,700 shares of the company's stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the acquisition, the director now owns 3,700 shares of the company's stock, valued at $998,593. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AXP. The Goldman Sachs Group reduced their price target on shares of American Express from $367.00 to $330.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. BTIG Research lowered their target price on American Express from $272.00 to $240.00 and set a "sell" rating for the company in a report on Monday. Argus lowered American Express from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 14th. Compass Point dropped their price objective on American Express from $325.00 to $309.00 and set a "neutral" rating on the stock in a research report 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 analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $295.05.

About American Express

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.