American International Group Inc. Decreases Position in American Express (NYSE:AXP)

American International Group Inc. decreased its holdings in shares of American Express (NYSE:AXPGet Rating) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 223,259 shares of the payment services company’s stock after selling 3,636 shares during the quarter. American International Group Inc.’s holdings in American Express were worth $36,525,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the stock. Arrowstreet Capital Limited Partnership increased its holdings in shares of American Express by 1,647.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,537,645 shares of the payment services company’s stock valued at $425,132,000 after purchasing an additional 2,392,445 shares during the period. UBS Asset Management Americas Inc. increased its holdings in shares of American Express by 41.9% in the third quarter. UBS Asset Management Americas Inc. now owns 4,937,400 shares of the payment services company’s stock valued at $827,163,000 after purchasing an additional 1,457,236 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of American Express by 39.0% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,097,746 shares of the payment services company’s stock valued at $506,791,000 after purchasing an additional 869,167 shares during the period. Morgan Stanley grew its holdings in American Express by 6.7% during the second quarter. Morgan Stanley now owns 9,916,986 shares of the payment services company’s stock worth $1,638,584,000 after acquiring an additional 622,891 shares during the period. Finally, Brandywine Global Investment Management LLC acquired a new position in American Express during the third quarter worth $92,948,000. Hedge funds and other institutional investors own 85.49% of the company’s stock.

In other news, CEO Stephen J. Squeri sold 48,160 shares of the business’s stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $178.38, for a total value of $8,590,780.80. Following the completion of the sale, the chief executive officer now directly owns 31,285 shares in the company, valued at approximately $5,580,618.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by insiders.

A number of research analysts recently weighed in on the company. Daiwa Capital Markets raised American Express from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $190.00 to $215.00 in a report on Thursday, February 10th. Citigroup upped their price objective on American Express from $187.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, April 26th. Oppenheimer restated an “outperform” rating and issued a $200.00 price objective on shares of American Express in a research report on Wednesday, March 23rd. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and set a $200.00 target price on the stock. in a research report on Monday, April 11th. Finally, Bank of America increased their target price on American Express from $204.00 to $206.00 in a research report on Thursday, March 17th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $192.26.

AXP stock traded up $3.75 during midday trading on Monday, hitting $156.99. 18,132 shares of the company’s stock were exchanged, compared to its average volume of 4,004,916. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.71. American Express has a 12-month low of $149.71 and a 12-month high of $199.55. The firm has a 50 day moving average price of $177.84 and a 200-day moving average price of $175.18. The stock has a market capitalization of $118.22 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 1.24 and a beta of 1.08.

American Express (NYSE:AXPGet Rating) last issued its quarterly earnings results on Friday, April 22nd. The payment services company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.30. American Express had a return on equity of 33.35% and a net margin of 17.49%. The business had revenue of $11.74 billion during the quarter, compared to the consensus estimate of $11.66 billion. During the same period in the previous year, the business earned $1.74 EPS. The business’s quarterly revenue was up 29.5% on a year-over-year basis. On average, sell-side analysts forecast that American Express will post 9.79 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Friday, July 1st will be issued a $0.52 dividend. The ex-dividend date is Thursday, June 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.32%. American Express’s dividend payout ratio (DPR) is 20.84%.

American Express Profile (Get Rating)

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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