First Hawaiian Bank decreased its holdings in shares of American Express (NYSE:AXP) by 8.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,905 shares of the payment services company’s stock after selling 1,791 shares during the period. First Hawaiian Bank’s holdings in American Express were worth $5,611,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of American Express by 0.8% in the third quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company’s stock valued at $3,104,735,000 after purchasing an additional 86,100 shares during the last quarter. FMR LLC grew its position in American Express by 8.5% in the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after purchasing an additional 866,110 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in American Express by 5.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company’s stock valued at $1,249,415,000 after buying an additional 239,173 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of American Express by 0.8% during the 3rd quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company’s stock worth $1,074,168,000 after buying an additional 33,193 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of American Express by 12.7% in the 4th quarter. Nordea Investment Management AB now owns 2,203,772 shares of the payment services company’s stock worth $655,137,000 after buying an additional 247,864 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.
American Express Price Performance
Shares of AXP traded up $0.78 during midday trading on Wednesday, reaching $302.80. The stock had a trading volume of 1,610,630 shares, compared to its average volume of 2,058,616. The company has a market capitalization of $213.31 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 1.73 and a beta of 1.23. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a 12-month low of $177.81 and a 12-month high of $307.82. The company’s 50-day moving average is $295.23 and its 200 day moving average is $268.18.
American Express Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Shareholders of record on Friday, January 3rd will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Friday, January 3rd. American Express’s dividend payout ratio (DPR) is presently 20.60%.
Insider Buying and Selling at American Express
In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the sale, the insider now directly owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This represents a 10.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Caillec Christophe Le sold 6,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $303.48, for a total transaction of $1,820,880.00. Following the completion of the sale, the chief financial officer now owns 6,433 shares in the company, valued at approximately $1,952,286.84. This trade represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,998 shares of company stock worth $26,423,439. 0.12% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
AXP has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on American Express from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Bank of America lifted their target price on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods increased their price target on shares of American Express from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective on the stock. in a research report on Tuesday, October 8th. Finally, Compass Point increased their target price on shares of American Express from $315.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $272.64.
Check Out Our Latest Research Report on AXP
About American Express
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.
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