American Express Company $AXP Shares Purchased by BI Asset Management Fondsmaeglerselskab A S

Key Points

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BI Asset Management Fondsmaeglerselskab A S increased its holdings in American Express Company (NYSE:AXP - Free Report) by 211.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 110,134 shares of the payment services company's stock after acquiring an additional 74,822 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in American Express were worth $29,632,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of American Express by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock worth $12,334,299,000 after purchasing an additional 605,900 shares during the period. Wellington Management Group LLP boosted its position in shares of American Express by 13.7% during the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock worth $4,849,777,000 after purchasing an additional 2,168,445 shares during the period. Northern Trust Corp boosted its position in shares of American Express by 16.3% during the 4th quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company's stock worth $2,025,632,000 after purchasing an additional 955,811 shares during the period. Nuveen LLC purchased a new position in shares of American Express during the 1st quarter worth approximately $1,454,667,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of American Express by 8.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,015,269 shares of the payment services company's stock worth $1,488,482,000 after purchasing an additional 408,283 shares during the period. Hedge funds and other institutional investors own 84.33% of the company's stock.

Insider Activity at American Express

In related news, insider Anna Marrs sold 5,500 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the transaction, the insider owned 20,311 shares of the company's stock, valued at $6,312,049.47. This represents a 21.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total transaction of $15,475,000.00. Following the sale, the insider owned 10,957 shares in the company, valued at $3,391,191.50. This represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,219 shares of company stock valued at $40,555,901 over the last quarter. 0.20% of the stock is owned by insiders.

American Express Stock Up 3.5%

NYSE:AXP traded up $10.7930 during trading hours on Friday, hitting $318.9630. The company's stock had a trading volume of 2,784,219 shares, compared to its average volume of 2,924,702. The stock has a market capitalization of $221.96 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 1.63 and a beta of 1.28. The stock has a fifty day moving average of $307.86 and a 200-day moving average of $290.08. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. American Express Company has a 52-week low of $220.43 and a 52-week high of $329.14.

American Express (NYSE:AXP - Get Free Report) last posted its earnings results on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating the consensus estimate of $3.86 by $0.22. The firm had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.American Express's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.49 earnings per share. On average, equities analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express's dividend payout ratio is 23.02%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of American Express in a research report on Monday, July 14th. Monness Crespi & Hardt cut shares of American Express from a "buy" rating to a "neutral" rating in a research report on Tuesday, July 15th. Wells Fargo & Company set a $327.00 price objective on American Express in a research report on Wednesday, July 2nd. Barclays increased their price objective on American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $311.05.

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.