CANADA LIFE ASSURANCE Co cut its stake in shares of American Express (NYSE:AXP - Free Report) by 49.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,079 shares of the payment services company's stock after selling 38,849 shares during the quarter. CANADA LIFE ASSURANCE Co's holdings in American Express were worth $11,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of American Express during the fourth quarter valued at about $1,785,867,000. Proficio Capital Partners LLC increased its holdings in American Express by 36,719.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company's stock valued at $300,289,000 after purchasing an additional 1,009,042 shares during the period. Raymond James Financial Inc. bought a new position in American Express during the 4th quarter valued at approximately $292,081,000. APG Asset Management N.V. lifted its holdings in American Express by 538.7% in the 4th quarter. APG Asset Management N.V. now owns 355,888 shares of the payment services company's stock worth $102,003,000 after buying an additional 300,168 shares during the period. Finally, Capital Wealth Planning LLC grew its position in shares of American Express by 22.0% in the 4th quarter. Capital Wealth Planning LLC now owns 1,517,668 shares of the payment services company's stock worth $450,429,000 after buying an additional 273,813 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the transaction, the insider now owns 13,500 shares of the company's stock, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael J. Angelakis bought 3,700 shares of American Express stock in a transaction on Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the acquisition, the director now owns 3,700 shares of the company's stock, valued at $998,593. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by insiders.
American Express Stock Down 0.9 %
AXP traded down $2.53 during trading on Friday, hitting $264.79. 1,939,224 shares of the company's stock traded hands, compared to its average volume of 2,845,934. American Express has a 12-month low of $220.43 and a 12-month high of $326.28. The company's 50 day simple moving average is $267.65 and its two-hundred day simple moving average is $287.33. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $185.51 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.41 and a beta of 1.16.
American Express (NYSE:AXP - Get Free Report) last issued its earnings results 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 business had revenue of $16.97 billion during 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 quarter in the previous year, the firm earned $3.33 EPS. Analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.
American Express Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be issued a $0.82 dividend. The ex-dividend date is Friday, April 4th. This represents a $3.28 annualized dividend and a yield of 1.24%. This is a boost from American Express's previous quarterly dividend of $0.70. American Express's dividend payout ratio (DPR) is currently 22.91%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on AXP. UBS Group raised their price target on American Express from $283.00 to $320.00 and gave the stock a "neutral" rating in a research note on Monday, January 13th. Evercore ISI lifted their target price on shares of American Express from $315.00 to $344.00 and gave the company an "in-line" rating in a research note on Monday, January 27th. BTIG Research decreased their price target on shares of American Express from $272.00 to $240.00 and set a "sell" rating for the company in a research note on Monday, April 21st. Monness Crespi & Hardt lifted their price objective on American Express from $275.00 to $285.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods increased their target price on American Express from $350.00 to $360.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. 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 MarketBeat, American Express currently has a consensus rating of "Hold" and a consensus price target of $295.05.
Read Our Latest Stock Report on American Express
American Express Company 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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