APG Asset Management N.V. Grows Stock Holdings in American Express (NYSE:AXP)

APG Asset Management N.V. lifted its stake in shares of American Express (NYSE:AXP) by 538.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 355,888 shares of the payment services company’s stock after acquiring an additional 300,168 shares during the quarter. APG Asset Management N.V. owned approximately 0.05% of American Express worth $102,003,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. MML Investors Services LLC increased its stake in shares of American Express by 5.2% during the third quarter. MML Investors Services LLC now owns 81,343 shares of the payment services company’s stock valued at $22,060,000 after buying an additional 4,042 shares during the period. Nomura Asset Management Co. Ltd. increased its position in American Express by 5.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 263,194 shares of the payment services company’s stock valued at $71,378,000 after purchasing an additional 14,403 shares during the period. Hamilton Capital LLC increased its position in American Express by 8.6% during the 3rd quarter. Hamilton Capital LLC now owns 1,487 shares of the payment services company’s stock valued at $402,000 after purchasing an additional 118 shares during the period. LRI Investments LLC raised its holdings in shares of American Express by 13.3% in the 3rd quarter. LRI Investments LLC now owns 671 shares of the payment services company’s stock valued at $193,000 after purchasing an additional 79 shares in the last quarter. Finally, Continuum Advisory LLC lifted its position in shares of American Express by 41.0% in the 3rd quarter. Continuum Advisory LLC now owns 2,853 shares of the payment services company’s stock worth $823,000 after purchasing an additional 829 shares during the period. Institutional investors own 84.33% of the company’s stock.

Insider Transactions at American Express

In related news, Director Michael J. Angelakis acquired 3,700 shares of American Express 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 acquisition, the director now owns 3,700 shares in the company, valued at approximately $998,593. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the 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 transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

American Express Price Performance

NYSE:AXP opened at $233.85 on Tuesday. American Express has a one year low of $214.51 and a one year high of $326.28. The stock has a market cap of $164.29 billion, a PE ratio of 16.69, a P/E/G ratio of 1.41 and a beta of 1.16. 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 stock has a 50 day moving average price of $287.32 and a 200 day moving average price of $289.39.

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

American Express Increases Dividend

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

Wall Street Analysts Forecast Growth

AXP has been the topic of several research reports. Citigroup cut their price objective on shares of American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Baird R W upgraded American Express from a “strong sell” rating to a “hold” rating in a report on Friday, March 14th. Robert W. Baird upgraded American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price objective for the company in a research note on Friday, March 14th. Bank of America dropped their price objective 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, American Express currently has an average rating of “Hold” and an average price target of $302.24.

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.