Skandinaviska Enskilda Banken AB publ Has $48.96 Million Stake in American Express (NYSE:AXP)

Skandinaviska Enskilda Banken AB publ increased its holdings in shares of American Express (NYSE:AXP) by 37.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 163,920 shares of the payment services company’s stock after acquiring an additional 45,011 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in American Express were worth $48,955,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in shares of American Express during the third quarter worth approximately $27,000. True Wealth Design LLC boosted its position in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock worth $29,000 after acquiring an additional 83 shares in the last quarter. Financial Life Planners bought a new position in shares of American Express in the 4th quarter valued at $38,000. Sierra Ocean LLC bought a new position in shares of American Express in the fourth quarter worth about $40,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in American Express in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

AXP stock opened at $261.19 on Thursday. American Express has a one year low of $214.51 and a one year high of $326.27. The firm has a 50-day simple moving average of $303.18 and a two-hundred day simple moving average of $288.10. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. The firm has a market cap of $183.49 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. On average, equities analysts forecast that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, April 4th. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is 23.41%.

Insider Transactions at American Express

In other news, insider Raymond Joabar sold 15,179 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of the transaction, the insider now directly owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Angelakis acquired 3,700 shares of the company’s stock in a transaction on Friday, March 7th. The stock was purchased at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the transaction, the director now owns 3,700 shares in the company, valued at approximately $998,593. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

AXP has been the subject of several analyst reports. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, January 27th. HSBC upped their price objective on shares of American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. Evercore ISI boosted their price target on shares of American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research note on Monday, January 27th. Royal Bank of Canada raised their target price on American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a report on Monday, January 27th. Finally, Compass Point reduced their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $296.38.

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.