Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in American Express (NYSE:AXP) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 301,960 shares of the payment services company’s stock after acquiring an additional 6,137 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in American Express were worth $25,851,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IndexIQ Advisors LLC purchased a new position in shares of American Express in the fourth quarter valued at approximately $27,000. Sound Income Strategies LLC lifted its position in American Express by 327.3% during the first quarter. Sound Income Strategies LLC now owns 329 shares of the payment services company’s stock worth $28,000 after buying an additional 252 shares in the last quarter. FSA Wealth Management LLC purchased a new position in American Express during the fourth quarter worth approximately $29,000. NWK Group Inc. purchased a new position in American Express during the fourth quarter worth approximately $30,000. Finally, Americana Partners LLC purchased a new position in American Express during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 84.21% of the company’s stock.
A number of brokerages recently commented on AXP. William Blair reiterated a “buy” rating on shares of American Express in a research report on Wednesday, March 18th. JPMorgan Chase & Co. reduced their price objective on American Express from $137.50 to $93.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Bank of America downgraded American Express from a “buy” rating to a “neutral” rating and set a $108.00 price objective on the stock. in a research report on Thursday, March 12th. TheStreet downgraded American Express from a “b-” rating to a “c+” rating in a research report on Friday, April 3rd. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $85.00 price objective on shares of American Express in a research report on Sunday, April 26th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $107.83.
American Express (NYSE:AXP) last released its earnings results on Friday, April 24th. The payment services company reported $1.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.29. The firm had revenue of $10.31 billion during the quarter, compared to analyst estimates of $10.67 billion. American Express had a return on equity of 30.21% and a net margin of 12.74%. American Express’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business posted $2.01 earnings per share. Analysts forecast that American Express will post 4.64 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Thursday, July 2nd will be issued a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.72 dividend on an annualized basis and a yield of 1.94%. American Express’s dividend payout ratio (DPR) is presently 20.98%.
American Express 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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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