MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stake in American Express Company $AXP

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in American Express by 7.2%, now holding 92,844 shares valued at approximately $24.98 million.
• Multiple institutional investors have significantly increased their positions in American Express, with Nuveen LLC investing around $1.45 billion in the first quarter.
• American Express recently reported earnings of $4.08 per share, exceeding analyst expectations, while also announcing a quarterly dividend of $0.82.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of American Express Company (NYSE:AXP - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 92,844 shares of the payment services company's stock after buying an additional 6,221 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in American Express were worth $24,977,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. Investment Management Corp VA ADV purchased a new position in shares of American Express in the 4th quarter worth about $29,000. MorganRosel Wealth Management LLC purchased a new position in shares of American Express in the first quarter valued at about $29,000. Nexus Investment Management ULC bought a new position in shares of American Express during the first quarter valued at approximately $34,000. Hughes Financial Services LLC purchased a new stake in shares of American Express in the 1st quarter worth about $35,000. Finally, 1 North Wealth Services LLC purchased a new position in shares of American Express during the first quarter valued at about $37,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Express

In related news, insider Anna Marrs sold 5,500 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the company's stock in a transaction dated Tuesday, July 29th. The shares were 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. Over the last ninety days, insiders sold 269,996 shares of company stock worth $85,261,270. Company insiders own 0.20% of the company's stock.

American Express Price Performance

Shares of AXP traded down $0.88 during trading hours on Wednesday, reaching $323.46. 1,846,535 shares of the stock traded hands, compared to its average volume of 2,295,366. American Express Company has a 52-week low of $220.43 and a 52-week high of $332.46. The company has a current ratio of 1.61, a quick ratio of 1.60 and a debt-to-equity ratio of 1.80. The company has a market cap of $225.09 billion, a P/E ratio of 22.70, a price-to-earnings-growth ratio of 1.72 and a beta of 1.28. The company's 50-day moving average price is $313.32 and its two-hundred day moving average price is $291.47.

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

American Express Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Monness Crespi & Hardt cut American Express from a "buy" rating to a "neutral" rating in a research note on Tuesday, July 15th. Wells Fargo & Company boosted their price target on American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Citigroup reissued a "neutral" rating and issued a $327.00 target price (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Barclays upped their price target on shares of American Express from $249.00 to $297.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Finally, Truist Financial raised their price objective on shares of American Express from $335.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $313.45.

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.