Sompo Asset Management Co. Ltd. Lowers Position in American Express (NYSE:AXP)

Sompo Asset Management Co. Ltd. cut its holdings in shares of American Express (NYSE:AXP) by 11.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,360 shares of the payment services company’s stock after selling 590 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in American Express were worth $817,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. BKM Wealth Management LLC purchased a new position in American Express during the 4th quarter valued at about $28,000. Tennessee Valley Asset Management Partners acquired a new position in American Express in the 4th quarter valued at about $28,000. Pacifica Partners Inc. acquired a new position in American Express in the 4th quarter valued at about $29,000. Baldwin Brothers LLC MA grew its position in American Express by 134.8% in the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 89 shares in the last quarter. Finally, Sachetta LLC acquired a new position in American Express in the 4th quarter valued at about $29,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jennifer Skyler sold 14,802 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $241.73, for a total value of $3,578,087.46. Following the transaction, the insider now owns 16,371 shares of the company’s stock, valued at $3,957,361.83. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Stephen J. Squeri sold 38,873 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total value of $9,276,263.99. Following the transaction, the chief executive officer now owns 76,310 shares of the company’s stock, valued at $18,209,855.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jennifer Skyler sold 14,802 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $241.73, for a total value of $3,578,087.46. Following the transaction, the insider now directly owns 16,371 shares in the company, valued at approximately $3,957,361.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 177,717 shares of company stock valued at $41,680,999. Company insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on AXP shares. Monness Crespi & Hardt raised American Express from a “neutral” rating to a “buy” rating and set a $245.00 target price for the company in a research report on Friday, April 5th. BMO Capital Markets lifted their target price on American Express from $167.00 to $175.00 and gave the company an “underperform” rating in a research report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft lifted their target price on American Express from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Evercore ISI lifted their price objective on American Express from $243.00 to $255.00 and gave the company an “in-line” rating in a research note on Wednesday, April 24th. Finally, William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $215.50.

View Our Latest Report on American Express

American Express Stock Performance

NYSE AXP traded down $0.68 on Friday, reaching $232.67. The stock had a trading volume of 2,212,477 shares, compared to its average volume of 2,427,727. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.62 and a current ratio of 1.62. American Express has a 12-month low of $140.91 and a 12-month high of $244.41. The business’s 50-day moving average price is $232.59 and its 200 day moving average price is $209.44. The stock has a market cap of $167.36 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 1.33 and a beta of 1.22.

American Express (NYSE:AXPGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. American Express had a return on equity of 32.46% and a net margin of 14.50%. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. During the same quarter in the previous year, the business earned $2.40 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities analysts expect that American Express will post 13.01 earnings per share for the current year.

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a $0.70 dividend. The ex-dividend date is Friday, July 5th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.20%. This is a positive change from American Express’s previous quarterly dividend of $0.10. American Express’s payout ratio is presently 23.06%.

American Express Profile

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

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