American Express (NYSE:AXP) Shares Purchased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd raised its position in American Express (NYSE:AXP) by 24.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,388 shares of the payment services company’s stock after acquiring an additional 667 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in American Express were worth $636,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new stake in shares of American Express during the fourth quarter worth approximately $28,000. Tennessee Valley Asset Management Partners acquired a new position in shares of American Express during the fourth quarter valued at $28,000. Baldwin Brothers LLC MA increased its holdings in shares of American Express by 134.8% during the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 89 shares during the period. Tyler Stone Wealth Management acquired a new position in shares of American Express during the second quarter valued at $27,000. Finally, WFA Asset Management Corp acquired a new position in American Express during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Trading Up 6.2 %

Shares of NYSE AXP opened at $231.04 on Monday. The stock has a market cap of $167.24 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.33 and a beta of 1.23. The business has a 50 day simple moving average of $220.06 and a 200 day simple moving average of $188.95. American Express has a 52 week low of $140.91 and a 52 week high of $231.69. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.63 and a current ratio of 1.63.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, beating the consensus estimate of $2.97 by $0.36. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. American Express had a return on equity of 30.99% and a net margin of 13.84%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.40 EPS. On average, research analysts predict that American Express will post 12.92 earnings per share for the current fiscal year.

American Express Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 5th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. American Express’s payout ratio is currently 23.06%.

Insiders Place Their Bets

In other American Express news, insider Howard Grosfield sold 7,029 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the completion of the sale, the insider now owns 12,388 shares of the company’s stock, valued at $2,522,816.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Howard Grosfield sold 7,029 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total value of $1,431,455.85. Following the completion of the transaction, the insider now directly owns 12,388 shares in the company, valued at $2,522,816.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laureen Seeger sold 84,420 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $212.98, for a total value of $17,979,771.60. Following the completion of the transaction, the insider now owns 57,512 shares of the company’s stock, valued at $12,248,905.76. The disclosure for this sale can be found here. Insiders sold 172,047 shares of company stock valued at $36,528,388 over the last 90 days. 0.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating on shares of American Express in a report on Friday, April 5th. Stephens raised American Express from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $148.00 to $193.00 in a research note on Tuesday, January 2nd. Wells Fargo & Company lifted their price target on American Express from $220.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft began coverage on American Express in a research note on Wednesday, January 10th. They issued a “buy” rating and a $235.00 price target on the stock. Finally, StockNews.com cut American Express from a “buy” rating to a “hold” rating in a research note on Monday, April 15th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $201.62.

American Express 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.