IFM Investors Pty Ltd lifted its position in shares of American Express (NYSE:AXP – Get Rating) by 16.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,492 shares of the payment services company’s stock after purchasing an additional 14,812 shares during the quarter. IFM Investors Pty Ltd’s holdings in American Express were worth $19,914,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of American Express during the 4th quarter worth $993,440,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in American Express by 39.0% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,097,746 shares of the payment services company’s stock valued at $506,791,000 after buying an additional 869,167 shares during the period. Guggenheim Capital LLC raised its holdings in American Express by 1,051.6% in the 4th quarter. Guggenheim Capital LLC now owns 578,461 shares of the payment services company’s stock valued at $94,636,000 after buying an additional 528,228 shares during the period. Toronto Dominion Bank raised its holdings in American Express by 95.4% in the 4th quarter. Toronto Dominion Bank now owns 754,707 shares of the payment services company’s stock valued at $123,465,000 after buying an additional 368,457 shares during the period. Finally, State Street Corp raised its holdings in American Express by 0.9% in the 4th quarter. State Street Corp now owns 34,277,797 shares of the payment services company’s stock valued at $5,607,848,000 after buying an additional 320,288 shares during the period. Institutional investors and hedge funds own 85.49% of the company’s stock.
Insider Transactions at American Express
In other news, Director Theodore Leonsis sold 4,005 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $166.63, for a total transaction of $667,353.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.
American Express Price Performance
American Express (NYSE:AXP – Get Rating) last issued its quarterly earnings data on Friday, July 22nd. The payment services company reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.16. American Express had a return on equity of 32.81% and a net margin of 15.69%. The company had revenue of $13.40 billion during the quarter, compared to analysts’ expectations of $12.54 billion. During the same quarter in the previous year, the business earned $2.80 earnings per share. The firm’s revenue for the quarter was up 30.8% on a year-over-year basis. On average, research analysts forecast that American Express will post 9.74 earnings per share for the current year.
American Express Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 10th. Stockholders of record on Friday, July 1st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Thursday, June 30th. American Express’s dividend payout ratio (DPR) is presently 21.33%.
Analyst Ratings Changes
Several brokerages recently issued reports on AXP. Piper Sandler reduced their price objective on shares of American Express from $202.00 to $163.00 and set an “overweight” rating on the stock in a report on Wednesday, July 6th. Barclays boosted their price objective on shares of American Express from $157.00 to $160.00 and gave the company an “equal weight” rating in a report on Monday, July 25th. Edward Jones upgraded shares of American Express from a “hold” rating to a “buy” rating in a report on Monday, June 6th. Morgan Stanley lifted their target price on American Express from $143.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday, July 25th. Finally, Stephens lifted their target price on American Express from $153.00 to $157.00 and gave the company a “maintains” rating in a research report on Monday, July 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $178.00.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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