Nuveen Asset Management LLC Trims Position in American Express (NYSE:AXP)

Nuveen Asset Management LLC cut its holdings in shares of American Express (NYSE:AXP - Free Report) by 0.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,690,674 shares of the payment services company's stock after selling 12,637 shares during the quarter. American Express makes up 0.5% of Nuveen Asset Management LLC's investment portfolio, making the stock its 29th largest holding. Nuveen Asset Management LLC owned 0.81% of American Express worth $1,688,935,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AXP. Norges Bank bought a new position in shares of American Express during the 4th quarter worth $1,785,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in shares of American Express by 463.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company's stock worth $1,293,259,000 after acquiring an additional 3,583,959 shares during the period. Capital Research Global Investors grew its stake in shares of American Express by 186.3% during the 4th 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. Kovitz Investment Group Partners LLC grew its stake in shares of American Express by 346.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company's stock worth $600,072,000 after acquiring an additional 1,568,747 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake in American Express by 36,719.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company's stock worth $300,289,000 after purchasing an additional 1,009,042 shares during the period. Institutional investors own 84.33% of the company's stock.

Insider Activity at American Express

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the sale, the insider now directly owns 10,919 shares of the company's stock, valued at approximately $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael J. Angelakis purchased 3,700 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of $269.89 per share, with a total value of $998,593.00. Following the purchase, the director now directly owns 3,700 shares of the company's stock, valued at approximately $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by corporate insiders.

American Express Trading Down 0.0%

Shares of AXP stock traded down $0.07 during trading hours on Friday, reaching $299.48. The company's stock had a trading volume of 2,958,967 shares, compared to its average volume of 2,838,859. The stock has a market capitalization of $209.81 billion, a P/E ratio of 21.38, a P/E/G ratio of 1.41 and a beta of 1.23. American Express has a one year low of $220.43 and a one year high of $326.28. The firm's fifty day simple moving average is $266.20 and its 200 day simple moving average is $288.02. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP - Get Free Report) last issued 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 return on equity of 32.65% and a net margin of 15.36%. During the same period last year, the company earned $3.33 EPS. Equities research analysts expect that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 4th were given a $0.82 dividend. This is a positive change from American Express's previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Friday, April 4th. American Express's dividend payout ratio (DPR) is currently 22.91%.

Analysts Set New Price Targets

AXP has been the subject of several analyst reports. William Blair restated an "outperform" rating on shares of American Express in a research note on Monday, April 21st. BTIG Research lowered their price target on American Express from $272.00 to $240.00 and set a "sell" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company raised their price target on American Express from $355.00 to $370.00 and gave the company an "overweight" rating in a report on Friday, January 31st. HSBC raised their price objective on American Express from $270.00 to $294.00 and gave the company a "hold" rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group decreased their price objective on American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $295.05.

American Express Profile

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.