Asahi Life Asset Management CO. LTD. Raises Holdings in American Express Company (NYSE:AXP)

Asahi Life Asset Management CO. LTD. increased its position in American Express Company (NYSE:AXP - Free Report) by 23.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,048 shares of the payment services company's stock after purchasing an additional 2,132 shares during the period. American Express accounts for 1.9% of Asahi Life Asset Management CO. LTD.'s portfolio, making the stock its 12th biggest position. Asahi Life Asset Management CO. LTD.'s holdings in American Express were worth $2,972,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of American Express by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 11,752,084 shares of the payment services company's stock worth $3,484,312,000 after acquiring an additional 268,572 shares during the last quarter. Northern Trust Corp boosted its stake in American Express by 16.3% in 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 in the last quarter. Norges Bank purchased a new stake in American Express during the 4th quarter valued at about $1,785,867,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 valued at $1,488,482,000 after purchasing an additional 408,283 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in American Express by 463.3% in the fourth 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 buying an additional 3,583,959 shares during the last quarter. Institutional investors own 84.33% of the company's stock.

American Express Price Performance

NYSE:AXP traded up $1.36 on Monday, reaching $320.83. 1,890,869 shares of the company's stock traded hands, compared to its average volume of 3,007,640. The stock has a 50-day simple moving average of $300.79 and a 200-day simple moving average of $290.49. American Express Company has a 12 month low of $220.43 and a 12 month high of $329.14. The firm has a market cap of $224.77 billion, a PE ratio of 22.40, a P/E/G ratio of 1.55 and a beta of 1.25. 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 posted its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. American Express had a return on equity of 32.48% and a net margin of 15.31%. The company had revenue of $16.97 billion for the quarter, compared to analysts' expectations of $17.04 billion. During the same period in the previous year, the firm earned $3.33 EPS. Equities research analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

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 $0.82 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $3.28 dividend on an annualized basis and a yield of 1.02%. American Express's dividend payout ratio is presently 22.91%.

Insiders Place Their Bets

In other American Express news, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the completion of the sale, the insider owned 9,402 shares of the company's stock, valued at $2,590,251. This trade represents a 50.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction that occurred on 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 directly owned 10,919 shares of the company's stock, valued at $2,889,822.54. This represents a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada reiterated an "outperform" rating on shares of American Express in a report on Monday. The Goldman Sachs Group reduced their target price on American Express from $367.00 to $330.00 and set a "buy" rating for the company in a report on Tuesday, March 18th. Keefe, Bruyette & Woods upped their price target on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Barclays lifted their price objective on American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Finally, Redburn Atlantic upgraded shares of American Express from a "sell" rating to a "neutral" rating and lowered their target price for the company from $270.00 to $255.00 in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $307.68.

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.