Mirae Asset Global Investments Co. Ltd. Acquires 5,941 Shares of American Express Company $AXP

Mirae Asset Global Investments Co. Ltd. boosted its holdings in American Express Company (NYSE:AXP) by 6.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Asset Advisory Services LLC raised its holdings in shares of American Express by 2.8% during the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,191 shares of the payment services company’s stock worth $384,000 after acquiring an additional 32 shares in the last quarter. DLK Investment Management LLC raised its holdings in shares of American Express by 3.8% during the 2nd quarter. DLK Investment Management LLC now owns 869 shares of the payment services company’s stock worth $277,000 after acquiring an additional 32 shares in the last quarter. Financial Engines Advisors L.L.C. raised its holdings in shares of American Express by 4.7% during the 1st quarter. Financial Engines Advisors L.L.C. now owns 772 shares of the payment services company’s stock worth $208,000 after acquiring an additional 35 shares in the last quarter. Modern Wealth Management LLC raised its holdings in shares of American Express by 0.7% during the 1st quarter. Modern Wealth Management LLC now owns 4,921 shares of the payment services company’s stock worth $1,324,000 after acquiring an additional 35 shares in the last quarter. Finally, Greenfield Savings Bank raised its holdings in shares of American Express by 0.3% during the 2nd quarter. Greenfield Savings Bank now owns 13,116 shares of the payment services company’s stock worth $4,184,000 after acquiring an additional 35 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other American Express news, insider Glenda G. Mcneal sold 50,000 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the sale, the insider owned 10,957 shares in the company, valued at $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the transaction, the insider directly owned 123,613 shares in the company, valued at $40,343,574.81. The trade was a 15.98% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 269,996 shares of company stock valued at $85,261,270. Insiders own 0.20% of the company’s stock.

American Express Stock Performance

AXP stock opened at $330.10 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The business’s fifty day simple moving average is $320.01 and its two-hundred day simple moving average is $298.24. American Express Company has a twelve month low of $220.43 and a twelve month high of $349.19. The firm has a market cap of $229.71 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.75 and a beta of 1.29.

American Express (NYSE:AXP) last released its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The business had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same quarter last year, the firm posted $3.49 earnings per share. The business’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 firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be paid a $0.82 dividend. The ex-dividend date is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. American Express’s dividend payout ratio (DPR) is presently 23.02%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Wells Fargo & Company upped their price objective on American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Weiss Ratings restated a “hold (c+)” rating on shares of American Express in a report on Saturday, September 27th. 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 report on Friday, July 11th. Finally, Morgan Stanley increased their price target on American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a report on Monday. Eight equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $319.95.

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.