Skandinaviska Enskilda Banken AB publ Purchases 45,011 Shares of American Express (NYSE:AXP)

Skandinaviska Enskilda Banken AB publ raised its holdings in American Express (NYSE:AXP) by 37.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 163,920 shares of the payment services company’s stock after buying an additional 45,011 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in American Express were worth $48,955,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in AXP. Geode Capital Management LLC increased its holdings in shares of American Express by 0.8% during the third quarter. Geode Capital Management LLC now owns 11,483,512 shares of the payment services company’s stock valued at $3,104,735,000 after acquiring an additional 86,100 shares in the last quarter. FMR LLC lifted its holdings in American Express by 8.5% in 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 acquiring an additional 866,110 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of 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 worth $2,600,277,000 after buying an additional 95,927 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of American Express by 5.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company’s stock valued at $1,249,415,000 after acquiring an additional 239,173 shares during the period. Finally, Janus Henderson Group PLC raised its stake in shares of American Express by 0.8% in the third quarter. Janus Henderson Group PLC now owns 3,960,842 shares of the payment services company’s stock worth $1,074,168,000 after buying an additional 33,193 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Express

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the sale, the insider now owns 13,500 shares in the company, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Angelakis purchased 3,700 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the acquisition, the director now directly owns 3,700 shares in the company, valued at approximately $998,593. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AXP. William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Monday, January 27th. Royal Bank of Canada lifted their price objective on American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a report on Monday, January 27th. StockNews.com downgraded American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Truist Financial started coverage on American Express in a report on Tuesday, January 7th. They set a “buy” rating and a $350.00 price objective for the company. Finally, Monness Crespi & Hardt lifted their target price on American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Three equities 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $296.38.

American Express Stock Performance

AXP stock opened at $261.19 on Thursday. The company has a 50-day simple moving average of $303.18 and a 200 day simple moving average of $288.10. 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 company has a market capitalization of $183.49 billion, a P/E ratio of 18.64, a PEG ratio of 1.41 and a beta of 1.21. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.27.

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%. Sell-side analysts predict that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a yield of 1.26%. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s payout ratio is 23.41%.

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.