TB Alternative Assets Ltd. purchased a new position in shares of American Express (NYSE:AXP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,985 shares of the payment services company's stock, valued at approximately $589,000.
Several other institutional investors and hedge funds have also made changes to their positions in AXP. Geode Capital Management LLC lifted its position in American Express by 0.8% in 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 acquiring an additional 86,100 shares during the last quarter. FMR LLC increased its position in shares of American Express by 8.5% during the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company's stock worth $2,984,208,000 after purchasing an additional 866,110 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of American Express by 5.5% in the 3rd 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 purchasing an additional 239,173 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of American Express by 0.8% in the 3rd quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company's stock valued at $1,074,168,000 after purchasing an additional 33,193 shares during the period. Finally, Nordea Investment Management AB increased its position in American Express by 12.7% during the fourth quarter. Nordea Investment Management AB now owns 2,203,772 shares of the payment services company's stock worth $655,137,000 after buying an additional 247,864 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.
American Express Price Performance
American Express stock traded up $5.51 during trading hours on Tuesday, hitting $318.07. The stock had a trading volume of 2,777,917 shares, compared to its average volume of 2,368,782. The stock has a market capitalization of $224.07 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 1.47 and a beta of 1.23. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a 1-year low of $184.06 and a 1-year high of $319.70. The stock's fifty day moving average is $299.65 and its two-hundred day moving average is $272.78.
American Express (NYSE:AXP - Get Free Report) last announced 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 company had revenue of $16.64 billion during the quarter, compared to analysts' expectations of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The firm's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.30 earnings per share. As a group, analysts predict that American Express will post 13.4 earnings per share for the current fiscal year.
American Express Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Stockholders of record on Friday, January 3rd will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.80 annualized dividend and a dividend yield of 0.88%. American Express's dividend payout ratio is currently 20.60%.
Insider Activity at American Express
In related news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the sale, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total value of $1,820,880.00. Following the transaction, the chief financial officer now directly owns 6,433 shares in the company, valued at approximately $1,952,286.84. This represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company's stock.
Analyst Upgrades and Downgrades
AXP has been the subject of several research analyst reports. TD Cowen increased their price objective on American Express from $260.00 to $268.00 and gave the company a "hold" rating in a report on Monday, October 21st. Barclays increased their price target on shares of American Express from $250.00 to $257.00 and gave the stock an "equal weight" rating in a research note on Monday, October 21st. BTIG Research cut shares of American Express from a "neutral" rating to a "sell" rating and set a $230.00 target price for the company. in a report on Tuesday, October 8th. Wells Fargo & Company upped their price objective on American Express from $300.00 to $340.00 and gave the company an "overweight" rating in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. lifted their target price on American Express from $301.00 to $307.00 and gave the company a "neutral" rating in a research note on Tuesday, January 14th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, American Express presently has an average rating of "Hold" and a consensus target price of $278.09.
Read Our Latest Analysis 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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