Elo Mutual Pension Insurance Co Grows Position in American Express (NYSE:AXP)

Elo Mutual Pension Insurance Co lifted its holdings in shares of American Express (NYSE:AXP) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,578 shares of the payment services company’s stock after purchasing an additional 3,199 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in American Express were worth $8,275,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AXP. Spire Wealth Management grew its position in American Express by 109.7% in the 4th quarter. Spire Wealth Management now owns 9,090 shares of the payment services company’s stock valued at $1,487,000 after acquiring an additional 4,755 shares in the last quarter. Forsta AP Fonden grew its position in American Express by 7.3% in the 3rd quarter. Forsta AP Fonden now owns 139,900 shares of the payment services company’s stock valued at $23,437,000 after acquiring an additional 9,500 shares in the last quarter. Kings Point Capital Management grew its position in American Express by 20.1% in the 3rd quarter. Kings Point Capital Management now owns 112,129 shares of the payment services company’s stock valued at $18,785,000 after acquiring an additional 18,739 shares in the last quarter. Van ECK Associates Corp grew its position in American Express by 275.0% in the 4th quarter. Van ECK Associates Corp now owns 58,352 shares of the payment services company’s stock valued at $9,546,000 after acquiring an additional 42,792 shares in the last quarter. Finally, American Century Companies Inc. grew its position in American Express by 1.7% in the 3rd quarter. American Century Companies Inc. now owns 4,852,583 shares of the payment services company’s stock valued at $812,953,000 after acquiring an additional 81,623 shares in the last quarter. Institutional investors and hedge funds own 83.98% of the company’s stock.

In related news, CEO Stephen J. Squeri sold 267,656 shares of the company’s stock in a transaction on Tuesday, February 1st. The stock was sold at an average price of $178.60, for a total transaction of $47,803,361.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Laureen Seeger sold 30,808 shares of the company’s stock in a transaction on Monday, January 31st. The stock was sold at an average price of $175.57, for a total value of $5,408,960.56. The disclosure for this sale can be found here. Insiders have sold 488,337 shares of company stock valued at $89,685,314 in the last 90 days. Company insiders own 0.11% of the company’s stock.

Several equities analysts have weighed in on the company. Credit Suisse Group lifted their target price on American Express from $163.00 to $170.00 and gave the company an “underperform” rating in a research report on Wednesday, January 26th. Barclays boosted their price objective on American Express from $182.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 26th. Morgan Stanley boosted their price objective on American Express from $218.00 to $223.00 and gave the stock an “overweight” rating in a research report on Monday, March 28th. Daiwa Capital Markets raised American Express from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $190.00 to $215.00 in a research report on Thursday, February 10th. Finally, Wolfe Research lowered their price objective on American Express from $240.00 to $226.00 in a research report on Thursday, March 17th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, American Express presently has a consensus rating of “Hold” and a consensus target price of $196.47.

NYSE AXP traded down $7.27 on Friday, reaching $174.71. The stock had a trading volume of 3,210,677 shares, compared to its average volume of 3,260,624. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.68 and a current ratio of 1.63. American Express has a 12-month low of $149.89 and a 12-month high of $199.55. The business’s 50-day moving average price is $182.48 and its 200 day moving average price is $176.69. The stock has a market cap of $131.57 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 1.51 and a beta of 1.10.

American Express (NYSE:AXPGet Rating) last released its quarterly earnings results on Friday, April 22nd. The payment services company reported $2.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.41 by $0.32. American Express had a return on equity of 33.35% and a net margin of 17.49%. The business had revenue of $11.74 billion during the quarter, compared to analysts’ expectations of $11.66 billion. During the same quarter in the prior year, the business earned $1.74 earnings per share. The company’s quarterly revenue was up 29.5% compared to the same quarter last year. On average, sell-side analysts predict that American Express will post 9.78 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 10th. Stockholders of record on Friday, April 8th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Thursday, April 7th. This is a boost from American Express’s previous quarterly dividend of $0.43. American Express’s dividend payout ratio is 20.84%.

American Express Profile (Get Rating)

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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