American Express (NYSE:AXP) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its holdings in American Express (NYSE:AXP) by 7.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 79,497 shares of the payment services company’s stock after acquiring an additional 5,245 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in American Express were worth $21,548,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in American Express by 8.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after buying an additional 662,382 shares in the last quarter. TD Asset Management Inc raised its stake in American Express by 8.2% during the first quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after buying an additional 195,876 shares in the last quarter. Boston Partners raised its stake in American Express by 22.2% during the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock valued at $485,525,000 after buying an additional 387,166 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in American Express during the first quarter valued at approximately $433,709,000. Finally, Nordea Investment Management AB raised its stake in American Express by 14.2% during the first quarter. Nordea Investment Management AB now owns 1,798,742 shares of the payment services company’s stock valued at $408,494,000 after buying an additional 224,079 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other news, insider Anre D. Williams sold 77,887 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the sale, the insider now owns 111,656 shares in the company, valued at approximately $30,176,150.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AXP shares. JPMorgan Chase & Co. cut American Express from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $268.00 to $286.00 in a research note on Monday, October 7th. BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a report on Tuesday, October 8th. Morgan Stanley upped their target price on American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Compass Point began coverage on American Express in a report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 target price for the company. Finally, Royal Bank of Canada upped their target price on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $253.09.

American Express Stock Performance

Shares of NYSE AXP opened at $267.35 on Friday. The stock has a fifty day moving average price of $263.88 and a two-hundred day moving average price of $245.57. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $192.31 billion, a P/E ratio of 22.02, a PEG ratio of 1.50 and a beta of 1.21. American Express has a 1 year low of $141.02 and a 1 year high of $286.36.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The firm had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company posted $3.30 EPS. Research analysts forecast that American Express will post 13.14 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is currently 23.06%.

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.