Erste Asset Management GmbH Boosts Stock Position in American Express (NYSE:AXP)

Erste Asset Management GmbH raised its holdings in American Express (NYSE:AXP) by 90.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,984 shares of the payment services company’s stock after acquiring an additional 24,654 shares during the quarter. Erste Asset Management GmbH’s holdings in American Express were worth $15,679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXP. Proficio Capital Partners LLC grew its holdings in American Express by 36,719.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock worth $300,289,000 after acquiring an additional 1,009,042 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of American Express in the 4th quarter worth approximately $292,081,000. FMR LLC boosted its stake in shares of American Express by 8.5% during the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock valued at $2,984,208,000 after purchasing an additional 866,110 shares in the last quarter. World Investment Advisors LLC increased its holdings in American Express by 35,213.7% during the third quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock valued at $86,002,000 after buying an additional 316,219 shares during the period. Finally, National Bank of Canada FI raised its stake in American Express by 73.7% in the third quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock worth $191,842,000 after buying an additional 300,138 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Down 1.7 %

NYSE:AXP opened at $256.31 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The company’s fifty day moving average price is $302.33 and its 200-day moving average price is $287.88. American Express has a 1-year low of $214.51 and a 1-year high of $326.27. The firm has a market capitalization of $180.07 billion, a P/E ratio of 18.29, a PEG ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last announced 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 return on equity of 32.65% and a net margin of 15.36%. As a group, equities research analysts anticipate that American Express will post 15.33 EPS for the current 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 is a boost from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Insider Buying and Selling at American Express

In other news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction that occurred on Tuesday, January 28th. The shares were 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 $7,492,492.04. The trade was a 38.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael J. Angelakis purchased 3,700 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the acquisition, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on AXP. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Monness Crespi & Hardt lifted their price objective on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Compass Point decreased their target price 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. Morgan Stanley lifted their price target on shares of American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Finally, UBS Group increased their price objective on American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Three investment 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. According to MarketBeat.com, American Express presently has an average rating of “Hold” and an average target price of $296.38.

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.