Nissay Asset Management Corp Japan ADV Sells 1,138 Shares of American Express (NYSE:AXP)

Nissay Asset Management Corp Japan ADV lowered its stake in shares of American Express (NYSE:AXP - Free Report) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,693 shares of the payment services company's stock after selling 1,138 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in American Express were worth $20,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AXP. Nearwater Capital Markets Ltd acquired a new position in American Express during the 4th quarter worth $50,454,000. NorthRock Partners LLC raised its position in shares of American Express by 376.9% during the fourth quarter. NorthRock Partners LLC now owns 16,793 shares of the payment services company's stock worth $4,984,000 after purchasing an additional 13,272 shares during the period. Northeast Financial Consultants Inc raised its position in shares of American Express by 94.6% during the fourth quarter. Northeast Financial Consultants Inc now owns 1,646 shares of the payment services company's stock worth $489,000 after purchasing an additional 800 shares during the period. Northwest Quadrant Wealth Management LLC raised its position in American Express by 35.7% during the fourth quarter. Northwest Quadrant Wealth Management LLC now owns 1,038 shares of the payment services company's stock valued at $308,000 after buying an additional 273 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its position in American Express by 20.5% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 25,463 shares of the payment services company's stock valued at $7,557,000 after buying an additional 4,324 shares during the period. Institutional investors and hedge funds own 84.33% of the company's stock.

American Express Price Performance

AXP stock traded down $0.07 during midday trading on Friday, reaching $299.48. 2,958,967 shares of the company's stock traded hands, compared to its average volume of 2,838,859. The company has a 50-day simple moving average of $266.20 and a two-hundred day simple moving average of $288.02. American Express has a 1-year low of $220.43 and a 1-year high of $326.28. The company has a market cap of $209.81 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.41 and a beta of 1.23. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, beating 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. On average, analysts anticipate that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, April 4th. American Express's dividend payout ratio (DPR) is currently 22.91%.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of recent research reports. BTIG Research lowered their target price on American Express from $272.00 to $240.00 and set a "sell" rating on the stock in a research note on Monday, April 21st. Keefe, Bruyette & Woods upped their price target on American Express from $350.00 to $360.00 and gave the stock an "outperform" rating in a research note on Monday, January 27th. HSBC increased their target price on American Express from $270.00 to $294.00 and gave the company a "hold" rating in a research note on Friday, January 24th. Argus cut American Express from a "strong-buy" rating to a "hold" rating in a report on Friday, March 14th. Finally, William Blair reaffirmed an "outperform" rating on shares of American Express in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, American Express has an average rating of "Hold" and a consensus price target of $295.05.

Insider Buying and Selling

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction dated 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 owns 10,919 shares of the company's stock, valued at $2,889,822.54. This trade represents a 21.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael J. Angelakis purchased 3,700 shares of the company's stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the purchase, the director now directly owns 3,700 shares in the company, valued at approximately $998,593. This trade represents 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 company 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.