American Express Company (NYSE:AXP) Holdings Raised by Long Corridor Asset Management Ltd

Key Points

• Long Corridor Asset Management Ltd increased its stake in American Express by 160.0%, acquiring an additional 40,000 shares, which now represent about 13.1% of their total holdings.
• American Express's recent quarterly earnings showed an EPS of $4.08, surpassing analysts’ expectations of $3.86, with revenue of $17.86 billion reflecting a 9.3% year-over-year growth.
• The company declared a quarterly dividend of $0.82 per share, resulting in an annualized dividend yield of 1.1%, while the dividend payout ratio stands at 23.02%.

Long Corridor Asset Management Ltd increased its stake in shares of American Express Company (NYSE:AXP - Free Report) by 160.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 65,000 shares of the payment services company's stock after acquiring an additional 40,000 shares during the period. American Express accounts for about 13.1% of Long Corridor Asset Management Ltd's holdings, making the stock its 3rd largest position. Long Corridor Asset Management Ltd's holdings in American Express were worth $17,488,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Investment Management Corp VA ADV bought a new stake in shares of American Express in the fourth quarter valued at approximately $29,000. MorganRosel Wealth Management LLC purchased a new stake in shares of American Express during the 1st quarter worth approximately $29,000. Nexus Investment Management ULC bought a new position in American Express in the 1st quarter worth approximately $34,000. Hughes Financial Services LLC bought a new position in American Express in the 1st quarter valued at $35,000. Finally, IAG Wealth Partners LLC purchased a new stake in American Express in the first quarter worth approximately $40,000. Institutional investors and hedge funds own 84.33% of the company's stock.

Insider Activity at American Express

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction 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 sale, the insider directly owned 10,957 shares in the company, valued at $3,391,191.50. The trade was a 82.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Laureen Seeger sold 61,721 shares of American Express stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the sale, the insider owned 9,001 shares of the company's stock, valued at approximately $2,677,527.47. The trade was a 87.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,219 shares of company stock valued at $40,555,901 over the last 90 days. Insiders own 0.20% of the company's stock.

American Express Stock Performance

AXP traded down $2.37 during trading on Friday, reaching $305.36. 2,727,229 shares of the company's stock were exchanged, compared to its average volume of 2,531,360. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $329.14. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The business has a 50 day moving average price of $307.17 and a 200 day moving average price of $290.42. The company has a market capitalization of $212.49 billion, a P/E ratio of 21.43, a PEG ratio of 1.63 and a beta of 1.28.

American Express (NYSE:AXP - Get Free Report) last released 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. American Express had a return on equity of 32.87% and a net margin of 14.78%. The firm had revenue of $17.86 billion for the quarter, compared to analysts' expectations of $17.70 billion. During the same quarter in the previous year, the business posted $3.49 EPS. The business's quarterly revenue was up 9.3% compared to the same quarter last year. As a group, analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of American Express from $260.00 to $342.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Citigroup reaffirmed a "neutral" rating and issued a $327.00 price objective (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods upped their target price on shares of American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. William Blair reiterated an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Finally, Barclays upped their price objective on shares of American Express from $249.00 to $297.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $311.05.

American Express Company 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.