Pacer Advisors Inc. Increases Stake in American Express (NYSE:AXP)

Pacer Advisors Inc. raised its position in shares of American Express (NYSE:AXP) by 2.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,652 shares of the payment services company’s stock after purchasing an additional 1,098 shares during the quarter. Pacer Advisors Inc.’s holdings in American Express were worth $11,296,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its position in American Express by 26,783.5% in the 3rd quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock valued at $2,467,210,000 after acquiring an additional 906,353 shares in the last quarter. Public Employees Retirement Association of Colorado raised its stake in shares of American Express by 924.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock worth $197,149,000 after purchasing an additional 768,301 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of American Express by 59,816.0% during the third quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock valued at $185,079,000 after purchasing an additional 681,304 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of American Express by 71.9% during the second quarter. Canada Pension Plan Investment Board now owns 1,164,098 shares of the payment services company’s stock valued at $269,547,000 after buying an additional 486,755 shares during the last quarter. Finally, Swedbank AB bought a new stake in American Express in the 1st quarter worth about $96,943,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other American Express news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the transaction, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 41.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 in the company, valued at $29,724,067.18. This trade represents a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

American Express Stock Performance

NYSE:AXP opened at $301.30 on Friday. The stock has a 50-day moving average price of $276.08 and a 200 day moving average price of $253.23. The stock has a market capitalization of $212.25 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.68 and a beta of 1.21. American Express has a 12-month low of $163.32 and a 12-month high of $301.92. 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 (NYSE:AXP) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The business had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. During the same period last year, the firm posted $3.30 EPS. The company’s revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that American Express will post 13.4 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 20.60%.

Analysts Set New Price Targets

Several equities analysts have issued reports on AXP shares. Monness Crespi & Hardt upped their target price on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Morgan Stanley raised their target price on shares of American Express from $248.00 to $252.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. The Goldman Sachs Group lifted their target price on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Evercore ISI increased their price target on American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a report on Monday, October 7th. Finally, Bank of America lifted their price objective on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $253.09.

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.