Polar Capital Holdings Plc Boosts Position in American Express (NYSE:AXP)

Polar Capital Holdings Plc boosted its holdings in shares of American Express (NYSE:AXP) by 198.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 92,177 shares of the payment services company’s stock after buying an additional 61,334 shares during the quarter. Polar Capital Holdings Plc’s holdings in American Express were worth $27,357,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AXP. Prana Capital Management LP purchased a new position in shares of American Express during the 4th quarter valued at approximately $17,674,000. ProShare Advisors LLC increased its holdings in shares of American Express by 29.0% during the 4th quarter. ProShare Advisors LLC now owns 267,445 shares of the payment services company’s stock valued at $79,375,000 after purchasing an additional 60,066 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of American Express by 54.2% during the 4th quarter. Quantinno Capital Management LP now owns 56,156 shares of the payment services company’s stock valued at $16,667,000 after purchasing an additional 19,745 shares in the last quarter. Mufg Securities Americas Inc. purchased a new position in shares of American Express during the 4th quarter valued at approximately $2,438,000. Finally, Nearwater Capital Markets Ltd purchased a new position in shares of American Express during the 4th quarter valued at approximately $50,454,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AXP shares. StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Argus lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. JPMorgan Chase & Co. lifted their price target on shares of American Express from $244.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, April 21st. Robert W. Baird raised shares of American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price target on the stock in a research note on Friday, March 14th. Finally, Baird R W raised shares of American Express from a “strong sell” rating to a “hold” rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, American Express presently has an average rating of “Hold” and a consensus target price of $295.05.

Insider Activity

In other news, Director Michael J. Angelakis purchased 3,700 shares of the stock in a transaction dated Friday, March 7th. The shares were purchased at an average price of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now owns 3,700 shares in the company, valued at $998,593. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the transaction, the insider now directly owns 10,919 shares in the company, valued at approximately $2,889,822.54. The trade was a 21.66% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

American Express Trading Down 0.3%

Shares of AXP opened at $299.32 on Friday. The firm’s fifty day moving average is $265.31 and its two-hundred day moving average is $287.82. 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 stock has a market cap of $209.70 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. American Express has a 52-week low of $220.43 and a 52-week high of $326.28.

American Express (NYSE:AXP) last announced its quarterly earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating the consensus estimate of $3.47 by $0.17. The firm had revenue of $16.97 billion for the quarter, compared to analysts’ expectations of $17.04 billion. American Express had a net margin of 15.36% and a return on equity of 32.65%. During the same quarter in the previous year, the company posted $3.33 EPS. Research analysts forecast that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 4th were given a dividend of $0.82 per share. This is a boost from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, April 4th. This represents a $3.28 annualized dividend and a dividend yield of 1.10%. American Express’s payout ratio is presently 22.91%.

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.