Ilmarinen Mutual Pension Insurance Co Acquires 20,000 Shares of American Express (NYSE:AXP)

Ilmarinen Mutual Pension Insurance Co increased its holdings in American Express (NYSE:AXP) by 74.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,000 shares of the payment services company’s stock after buying an additional 20,000 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in American Express were worth $13,949,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of American Express by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 11,752,084 shares of the payment services company’s stock worth $3,484,312,000 after acquiring an additional 268,572 shares in the last quarter. Fisher Asset Management LLC grew its stake in American Express by 1.1% in the fourth quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company’s stock valued at $2,600,277,000 after purchasing an additional 95,927 shares during the last quarter. Norges Bank bought a new position in American Express in the fourth quarter worth about $1,785,867,000. Charles Schwab Investment Management Inc. lifted its position in shares of American Express by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,878,434 shares of the payment services company’s stock valued at $1,151,080,000 after buying an additional 14,282 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings 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 valued at $655,137,000 after buying an additional 247,864 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Down 5.8 %

American Express stock opened at $233.50 on Friday. The business’s 50-day moving average price is $288.96 and its 200 day moving average price is $289.28. 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 firm has a market cap of $164.04 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. American Express has a 52 week low of $214.51 and a 52 week high of $326.28.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. As a group, sell-side analysts anticipate that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is currently 23.41%.

Insiders Place Their Bets

In related news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the sale, the insider now owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Angelakis acquired 3,700 shares of American Express stock in a transaction on Friday, March 7th. The shares were bought at an average price of $269.89 per share, with a total value of $998,593.00. Following the completion of the transaction, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AXP has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of American Express from $367.00 to $330.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Royal Bank of Canada boosted their target price on American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Bank of America reduced their target price on American Express from $326.00 to $325.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 18th. Morgan Stanley raised their price target on American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods boosted their price target on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, American Express currently has a consensus rating of “Hold” and a consensus target price of $302.24.

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.