Mufg Securities Americas Inc. Takes $2.44 Million Position in American Express (NYSE:AXP)

Mufg Securities Americas Inc. bought a new position in shares of American Express (NYSE:AXP) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,216 shares of the payment services company’s stock, valued at approximately $2,438,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new stake in American Express during the fourth quarter valued at approximately $832,000. Keybank National Association OH lifted its position in shares of American Express by 3.7% during the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock valued at $103,858,000 after acquiring an additional 12,364 shares during the last quarter. Edge Capital Group LLC boosted its stake in shares of American Express by 20.9% during the 4th quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock worth $1,915,000 after acquiring an additional 1,113 shares in the last quarter. Game Plan Financial Advisors LLC grew its holdings in shares of American Express by 17.5% in the 4th quarter. Game Plan Financial Advisors LLC now owns 18,982 shares of the payment services company’s stock worth $5,638,000 after acquiring an additional 2,826 shares during the last quarter. Finally, NewEdge Wealth LLC raised its position in shares of American Express by 6.0% during the fourth quarter. NewEdge Wealth LLC now owns 26,102 shares of the payment services company’s stock worth $7,747,000 after purchasing an additional 1,471 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Up 1.1%

Shares of American Express stock opened at $302.28 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The stock has a 50 day moving average price of $264.02 and a two-hundred day moving average price of $287.55. The stock has a market capitalization of $211.77 billion, a P/E ratio of 21.58, a PEG ratio of 1.41 and a beta of 1.23. American Express has a 12-month low of $220.43 and a 12-month high of $326.28.

American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.17. The business had revenue of $16.97 billion during the quarter, compared to analysts’ expectations of $17.04 billion. American Express had a return on equity of 32.65% and a net margin of 15.36%. During the same quarter in the previous year, the firm earned $3.33 EPS. Equities analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 4th were given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.09%. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, April 4th. American Express’s dividend payout ratio (DPR) is currently 22.91%.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $310.00 price target on shares of American Express in a research report on Monday, April 21st. BTIG Research decreased their target price on shares of American Express from $272.00 to $240.00 and set a “sell” rating for the company in a report on Monday, April 21st. Evercore ISI lifted their target price on shares of American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a research report on Monday, January 27th. Argus downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 14th. Finally, Monness Crespi & Hardt raised their price objective on shares of American Express from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, American Express has a consensus rating of “Hold” and a consensus target price of $295.05.

Insider Transactions at American Express

In related news, insider Glenda G. Mcneal sold 3,019 shares of American Express stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the sale, the insider now directly owns 10,919 shares of the company’s stock, valued at $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Howard Grosfield sold 9,450 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the transaction, the insider now owns 9,402 shares in the company, valued at $2,590,251. This represents a 50.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

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.