Mitsubishi UFJ Trust & Banking Corp Has $95.05 Million Position in American Express (AXP)

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of American Express (NYSE:AXP) by 51.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 892,561 shares of the payment services company’s stock after selling 935,427 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in American Express were worth $95,049,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. Destination Wealth Management raised its holdings in American Express by 165.4% during the second quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock valued at $104,000 after acquiring an additional 660 shares during the period. Lenox Wealth Advisors LLC raised its holdings in American Express by 1,173.8% during the third quarter. Lenox Wealth Advisors LLC now owns 1,070 shares of the payment services company’s stock valued at $114,000 after acquiring an additional 986 shares during the period. Tuttle Tactical Management bought a new stake in American Express during the second quarter valued at about $105,000. Sageworth Trust Co raised its holdings in American Express by 455.6% during the third quarter. Sageworth Trust Co now owns 1,250 shares of the payment services company’s stock valued at $133,000 after acquiring an additional 1,025 shares during the period. Finally, Westside Investment Management Inc. raised its holdings in American Express by 67.7% during the third quarter. Westside Investment Management Inc. now owns 1,595 shares of the payment services company’s stock valued at $171,000 after acquiring an additional 644 shares during the period. Institutional investors own 83.42% of the company’s stock.

Shares of AXP stock opened at $105.74 on Friday. American Express has a 12-month low of $87.54 and a 12-month high of $111.77. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.58. The stock has a market capitalization of $90.33 billion, a PE ratio of 18.01, a PEG ratio of 1.43 and a beta of 1.06.

American Express (NYSE:AXP) last issued its earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.11. American Express had a return on equity of 31.26% and a net margin of 9.51%. The firm had revenue of $10.14 billion for the quarter, compared to analysts’ expectations of $10.06 billion. During the same period in the previous year, the firm posted $1.50 earnings per share. The business’s revenue was up 9.2% compared to the same quarter last year. As a group, analysts predict that American Express will post 7.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Friday, October 5th were paid a dividend of $0.39 per share. This is a boost from American Express’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend was Thursday, October 4th. American Express’s payout ratio is presently 26.58%.

In related news, CFO Scott Murcray acquired 350,000 shares of American Express stock in a transaction on Monday, September 3rd. The shares were bought at an average cost of $0.28 per share, with a total value of $98,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Stephen J. Squeri sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $103.84, for a total value of $1,298,000.00. Following the sale, the chairman now directly owns 209,957 shares in the company, valued at $21,801,934.88. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

A number of research firms have commented on AXP. Oppenheimer set a $114.00 price target on American Express and gave the company a “buy” rating in a report on Monday, November 5th. Stephens set a $131.00 price target on American Express and gave the company a “buy” rating in a report on Saturday, October 20th. BMO Capital Markets raised their price target on American Express from $106.00 to $110.00 and gave the company a “market perform” rating in a report on Friday, October 19th. Bank of America set a $125.00 price target on American Express and gave the company a “buy” rating in a report on Friday, October 19th. Finally, Morgan Stanley lifted their target price on American Express from $109.00 to $115.00 and gave the stock an “equal weight” rating in a report on Friday, October 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $112.70.

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American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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

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