American Express (NYSE:AXP) Shares Purchased by Investment Management Corp of Ontario

Investment Management Corp of Ontario grew its stake in shares of American Express (NYSE:AXP) by 76.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 43,056 shares of the payment services company's stock after acquiring an additional 18,615 shares during the period. Investment Management Corp of Ontario's holdings in American Express were worth $12,779,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AXP. ORG Partners LLC boosted its holdings in shares of American Express by 15.3% in the fourth quarter. ORG Partners LLC now owns 317 shares of the payment services company's stock worth $94,000 after buying an additional 42 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in American Express by 0.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 311,029 shares of the payment services company's stock worth $84,351,000 after purchasing an additional 1,770 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in American Express by 2.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 11,963 shares of the payment services company's stock valued at $3,550,000 after purchasing an additional 261 shares during the period. Graypoint LLC lifted its holdings in shares of American Express by 1.0% in the fourth quarter. Graypoint LLC now owns 4,141 shares of the payment services company's stock valued at $1,229,000 after purchasing an additional 41 shares in the last quarter. Finally, Czech National Bank boosted its position in shares of American Express by 5.5% in the fourth quarter. Czech National Bank now owns 120,663 shares of the payment services company's stock worth $35,812,000 after buying an additional 6,255 shares during the period. 84.33% of the stock is owned by institutional investors.

American Express Stock Performance

NYSE:AXP opened at $284.43 on Friday. The firm's 50-day moving average is $263.18 and its 200-day moving average is $287.10. The company has a market cap of $199.27 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.41 and a beta of 1.23. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express has a 52-week low of $220.43 and a 52-week high of $326.28.

American Express (NYSE:AXP - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating the consensus estimate of $3.47 by $0.17. American Express had a return on equity of 32.65% and a net margin of 15.36%. The firm had revenue of $16.97 billion during the quarter, compared to analysts' expectations of $17.04 billion. During the same quarter in the prior year, the firm posted $3.33 EPS. Equities research analysts anticipate that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 4th were given a dividend of $0.82 per share. This is a positive change from American Express's previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Friday, April 4th. American Express's payout ratio is 22.91%.

Analysts Set New Price Targets

A number of brokerages have commented on AXP. Keefe, Bruyette & Woods raised their price objective on American Express from $350.00 to $360.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Baird R W upgraded shares of American Express from a "strong sell" rating to a "hold" rating in a research note on Friday, March 14th. Monness Crespi & Hardt lifted their target price on shares of American Express from $275.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, April 21st. William Blair reaffirmed an "outperform" rating on shares of American Express in a research note on Monday, April 21st. Finally, UBS Group boosted their target price on American Express from $283.00 to $320.00 and gave the company a "neutral" rating in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $295.05.

Insider Activity at American Express

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the sale, the insider now owns 10,919 shares of the company's stock, valued at $2,889,822.54. This represents a 21.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the completion of the sale, the insider now directly owns 9,402 shares of the company's stock, valued at approximately $2,590,251. This represents a 50.13 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by insiders.

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.

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