Bell Asset Management Ltd Acquires 439 Shares of American Express (NYSE:AXP)

Bell Asset Management Ltd lifted its position in shares of American Express (NYSE:AXP) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,714 shares of the payment services company’s stock after purchasing an additional 439 shares during the quarter. American Express makes up about 1.7% of Bell Asset Management Ltd’s investment portfolio, making the stock its 13th largest position. Bell Asset Management Ltd’s holdings in American Express were worth $11,374,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new stake in shares of American Express in the fourth quarter worth about $1,112,747,000. TD Asset Management Inc boosted its position in American Express by 62.1% during the fourth quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock valued at $449,521,000 after purchasing an additional 919,337 shares during the last quarter. International Assets Investment Management LLC raised its stake in American Express by 1,313.2% in the fourth quarter. International Assets Investment Management LLC now owns 768,769 shares of the payment services company’s stock valued at $1,440,210,000 after buying an additional 714,370 shares during the period. Charles Schwab Investment Management Inc. raised its stake in American Express by 21.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock valued at $713,202,000 after buying an additional 667,695 shares during the period. Finally, Bank of Nova Scotia lifted its holdings in shares of American Express by 969.9% during the fourth quarter. Bank of Nova Scotia now owns 602,726 shares of the payment services company’s stock worth $112,910,000 after buying an additional 546,389 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Activity

In other American Express news, CEO Stephen J. Squeri sold 38,873 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the completion of the transaction, the chief executive officer now owns 76,310 shares in the company, valued at approximately $18,209,855.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Quinn Jessica Lieberman sold 3,141 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $232.36, for a total transaction of $729,842.76. Following the transaction, the executive vice president now directly owns 258 shares of the company’s stock, valued at approximately $59,948.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Stephen J. Squeri sold 38,873 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the sale, the chief executive officer now directly owns 76,310 shares in the company, valued at $18,209,855.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,717 shares of company stock valued at $41,680,999. Company insiders own 0.11% of the company’s stock.

American Express Stock Performance

Shares of AXP stock traded up $0.37 during trading hours on Tuesday, hitting $237.25. The company’s stock had a trading volume of 2,504,314 shares, compared to its average volume of 3,076,124. The company has a 50 day moving average of $232.24 and a 200 day moving average of $208.61. The stock has a market cap of $170.65 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.36 and a beta of 1.22. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. American Express has a 12-month low of $140.91 and a 12-month high of $244.41.

American Express (NYSE:AXPGet Free Report) last posted its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.40 earnings per share. On average, sell-side analysts forecast that American Express will post 13.01 EPS for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.18%. This is an increase from American Express’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, July 5th. American Express’s payout ratio is 23.06%.

Analysts Set New Price Targets

AXP has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on American Express from $265.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday. Morgan Stanley lifted their price objective on American Express from $222.00 to $226.00 and gave the stock an “equal weight” rating in a research report on Monday, April 22nd. StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Monness Crespi & Hardt upgraded American Express from a “neutral” rating to a “buy” rating and set a $245.00 price target for the company in a research note on Friday, April 5th. Finally, Royal Bank of Canada boosted their target price on American Express from $253.00 to $263.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, American Express has an average rating of “Hold” and a consensus price target of $215.50.

Read Our Latest Analysis on AXP

American Express Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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