Canoe Financial LP Acquires 80,033 Shares of American Express Company (NYSE:AXP)

Canoe Financial LP increased its holdings in American Express Company (NYSE:AXP - Free Report) by 17.1% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 549,319 shares of the payment services company's stock after buying an additional 80,033 shares during the quarter. American Express comprises approximately 2.4% of Canoe Financial LP's portfolio, making the stock its 15th biggest position. Canoe Financial LP owned about 0.08% of American Express worth $147,794,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Keybank National Association OH increased its holdings in American Express by 3.7% in the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company's stock worth $103,858,000 after buying an additional 12,364 shares in the last quarter. Edge Capital Group LLC increased its position in shares of American Express by 20.9% during the 4th quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company's stock valued at $1,915,000 after purchasing an additional 1,113 shares during the last quarter. NewEdge Wealth LLC increased its position in shares of American Express by 6.0% during the 4th quarter. NewEdge Wealth LLC now owns 26,102 shares of the payment services company's stock valued at $7,747,000 after purchasing an additional 1,471 shares during the last quarter. Griffith & Werner Inc. purchased a new stake in shares of American Express during the 4th quarter valued at about $1,311,000. Finally, Oppenheimer & Co. Inc. increased its position in shares of American Express by 11.0% during the 4th quarter. Oppenheimer & Co. Inc. now owns 50,009 shares of the payment services company's stock valued at $14,842,000 after purchasing an additional 4,959 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors.

Insider Transactions at American Express

In related news, insider Glenda G. Mcneal sold 3,019 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the sale, the insider now owns 10,919 shares in the company, valued at approximately $2,889,822.54. This represents a 21.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the stock in a transaction on Tuesday, May 6th. The stock was 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 now owns 9,402 shares in the company, valued at approximately $2,590,251. The trade was a 50.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on AXP shares. Robert W. Baird raised shares of American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price target for the company in a research report on Friday, March 14th. JPMorgan Chase & Co. upped their price target on shares of American Express from $244.00 to $260.00 and gave the company a "neutral" rating in a research report on Monday, April 21st. Citigroup reduced their price target on shares of American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Baird R W upgraded American Express from a "strong sell" rating to a "hold" rating in a research note on Friday, March 14th. Finally, The Goldman Sachs Group cut their price objective on American Express from $367.00 to $330.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $296.05.

American Express Trading Up 0.7%

AXP stock opened at $298.50 on Friday. The company has a market capitalization of $209.13 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.44 and a beta of 1.25. American Express Company has a 1-year low of $220.43 and a 1-year high of $326.28. The business has a 50 day simple moving average of $283.36 and a two-hundred day simple moving average of $288.77. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

American Express (NYSE:AXP - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.47 by $0.17. The business had revenue of $16.97 billion for the quarter, compared to analysts' expectations of $17.04 billion. American Express had a return on equity of 32.48% and a net margin of 15.31%. During the same period in the prior year, the firm earned $3.33 EPS. Research analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.82 per share. The ex-dividend date is Thursday, July 3rd. This represents a $3.28 annualized dividend and a dividend yield of 1.10%. American Express's dividend payout ratio (DPR) is 22.91%.

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.

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