Nuveen LLC Takes Position in American Express Company (NYSE:AXP)

Key Points

• Nuveen LLC has invested approximately $1.45 billion in American Express, acquiring over 5 million shares, constituting about 0.77% of the company.
• American Express recently reported earnings per share of $4.08 for the last quarter, exceeding the consensus estimate by $0.22, and its revenue increased by 9.3% year-over-year.
• The company has declared a quarterly dividend of $0.82 per share, representing an annual yield of 1.1%, with a payout ratio of 23.02%.

Nuveen LLC purchased a new stake in shares of American Express Company (NYSE:AXP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,406,680 shares of the payment services company's stock, valued at approximately $1,454,667,000. Nuveen LLC owned 0.77% of American Express at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AXP. Arista Wealth Management LLC lifted its position in shares of American Express by 1.7% during the 4th quarter. Arista Wealth Management LLC now owns 2,275 shares of the payment services company's stock worth $675,000 after purchasing an additional 37 shares during the last quarter. Hemington Wealth Management grew its stake in shares of American Express by 2.3% in the 1st quarter. Hemington Wealth Management now owns 1,661 shares of the payment services company's stock valued at $446,000 after purchasing an additional 38 shares during the period. Revolve Wealth Partners LLC grew its position in American Express by 2.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 1,620 shares of the payment services company's stock worth $436,000 after acquiring an additional 40 shares during the last quarter. Cornerstone Planning Group LLC grew its position in American Express by 0.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 5,236 shares of the payment services company's stock worth $1,362,000 after acquiring an additional 40 shares during the last quarter. Finally, Arcus Capital Partners LLC boosted its position in American Express by 0.3% in the 1st quarter. Arcus Capital Partners LLC now owns 11,623 shares of the payment services company's stock valued at $3,127,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company's stock.

American Express Stock Down 0.4%

NYSE:AXP traded down $1.16 on Monday, hitting $296.27. The stock had a trading volume of 2,316,745 shares, compared to its average volume of 2,624,359. American Express Company has a 1 year low of $220.43 and a 1 year high of $329.14. The firm's fifty day simple moving average is $306.61 and its two-hundred day simple moving average is $290.28. The stock has a market cap of $206.17 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 1.58 and a beta of 1.28. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61.

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 for the quarter, beating analysts' consensus estimates of $3.86 by $0.22. American Express had a net margin of 14.78% and a return on equity of 32.87%. The firm had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the prior year, the firm earned $3.49 EPS. The company's revenue was up 9.3% compared to the same quarter last year. Analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

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

Insider Activity

In related news, insider Anna Marrs sold 5,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the transaction, the insider directly owned 20,311 shares of the company's stock, valued at approximately $6,312,049.47. This trade represents a 21.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laureen Seeger sold 61,721 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the completion of the transaction, the insider directly owned 9,001 shares of the company's stock, valued at approximately $2,677,527.47. This trade represents a 87.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,219 shares of company stock valued at $40,555,901 in the last three months. Company insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Redburn Atlantic raised American Express from a "sell" rating to a "neutral" rating and cut their price target for the company from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft increased their price target on American Express from $371.00 to $375.00 and gave the company a "buy" rating in a research note on Monday, July 21st. William Blair reissued an "outperform" rating on shares of American Express in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. increased their price target on American Express from $260.00 to $342.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, Barclays increased their price target on 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 research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, American Express presently has an average rating of "Hold" and a consensus target price of $311.05.

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.