Jefferies Financial Group Inc. Acquires 6,301 Shares of American Express Company (NYSE:AXP)

Key Points

• Jefferies Financial Group Inc. increased its stake in American Express by 357.6% in Q1, owning 8,063 shares valued at approximately $2.17 million.
• A series of institutional investors, including Northern Trust Corp and DZ BANK AG, boosted their holdings in American Express significantly during the fourth quarter, demonstrating increased confidence in the company.
• American Express reported $4.08 EPS for the latest quarter, exceeding estimates and marking a 9.3% revenue increase year-over-year, alongside a declared dividend of $0.82 per share.

Jefferies Financial Group Inc. lifted its position in shares of American Express Company (NYSE:AXP - Free Report) by 357.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,063 shares of the payment services company's stock after purchasing an additional 6,301 shares during the quarter. Jefferies Financial Group Inc.'s holdings in American Express were worth $2,169,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. 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. GAMMA Investing LLC grew its stake in shares of American Express by 27,625.2% during the 1st quarter. GAMMA Investing LLC now owns 2,162,846 shares of the payment services company's stock worth $581,914,000 after acquiring an additional 2,155,045 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, Northern Trust Corp grew its stake 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 acquiring an additional 955,811 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AXP shares. Deutsche Bank Aktiengesellschaft increased their price target on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods raised their target price on American Express from $360.00 to $371.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Bank of America upgraded American Express from a "neutral" rating to a "buy" rating and cut their target price for the stock from $325.00 to $274.00 in a research note on Friday, April 11th. Citigroup restated a "neutral" rating and issued a $327.00 target price (up previously from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. raised their target price on American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $311.05.

Insider Activity at American Express

In related news, insider Anna Marrs sold 5,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the transaction, the insider directly owned 20,311 shares in the company, valued at $6,312,049.47. This trade represents a 21.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the transaction, the insider owned 10,957 shares in the company, valued at approximately $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

American Express Price Performance

Shares of NYSE AXP traded down $1.83 during trading hours on Tuesday, reaching $296.76. 2,180,916 shares of the stock traded hands, compared to its average volume of 2,612,958. The company has a market capitalization of $206.51 billion, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 1.58 and a beta of 1.28. The company has a quick ratio of 1.60, a current ratio of 1.61 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. The company's 50-day simple moving average is $306.43 and its two-hundred day simple moving average is $291.10.

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

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, July 3rd. American Express's dividend payout ratio (DPR) is presently 23.02%.

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.