Mirae Asset Global Investments Co. Ltd. Boosts Holdings in American Express Company $AXP

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in American Express by 6.3% during the 2nd quarter, now owning 100,399 shares valued at approximately $32 million.
• Insiders at American Express sold a total of 269,996 shares worth over $85 million in the last quarter, with notable sales confirming significant reductions in their ownership.
• American Express recently announced a quarterly dividend of $0.82 per share, which will be paid on November 10, reflecting an annualized yield of 1.0%.

Mirae Asset Global Investments Co. Ltd. lifted its stake in American Express Company (NYSE:AXP) by 6.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,399 shares of the payment services company's stock after purchasing an additional 5,941 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in American Express were worth $32,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of AXP. MorganRosel Wealth Management LLC purchased a new position in shares of American Express in the 1st quarter worth about $29,000. Hughes Financial Services LLC purchased a new position in American Express in the 1st quarter worth about $35,000. 1 North Wealth Services LLC purchased a new position in American Express in the 1st quarter worth about $37,000. IAG Wealth Partners LLC purchased a new position in American Express in the 1st quarter worth about $40,000. Finally, PFS Partners LLC raised its position in American Express by 104.0% in the 1st quarter. PFS Partners LLC now owns 153 shares of the payment services company's stock worth $41,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company's stock.

Insider Activity at American Express

In related news, insider Anna Marrs sold 5,500 shares of the business'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 completion of the transaction, the insider directly owned 20,311 shares in the company, valued at approximately $6,312,049.47. The trade was a 21.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were 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 of the company's stock, valued at approximately $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 269,996 shares of company stock worth $85,261,270 in the last quarter. 0.20% of the stock is currently owned by insiders.

American Express Trading Down 0.1%

American Express stock opened at $330.10 on Friday. The business has a 50-day simple moving average of $320.01 and a two-hundred day simple moving average of $298.24. The company has a market cap of $229.71 billion, a P/E ratio of 23.17, a P/E/G ratio of 1.75 and a beta of 1.29. American Express Company has a 52-week low of $220.43 and a 52-week high of $349.19. 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 (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.86 by $0.22. The company had revenue of $17.86 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $3.49 EPS. Analysts predict that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be paid a dividend of $0.82 per share. The ex-dividend date is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express's payout ratio is 23.02%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AXP shares. William Blair reissued an "outperform" rating on shares of American Express in a research report on Wednesday, July 2nd. Citigroup reissued a "neutral" rating and issued a $327.00 target price (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, July 21st. Wells Fargo & Company boosted their target price on American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Finally, DZ Bank downgraded American Express from a "hold" rating to a "sell" rating in a research note on Monday, July 21st. Eight analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $319.95.

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.

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