American Express Company $AXP Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lessened its stake in American Express Company (NYSE:AXP) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,105 shares of the payment services company’s stock after selling 9,344 shares during the period. Resona Asset Management Co. Ltd.’s holdings in American Express were worth $60,131,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in American Express during the third quarter valued at $27,000. Access Investment Management LLC acquired a new position in shares of American Express in the second quarter worth about $26,000. Briaud Financial Planning Inc acquired a new position in shares of American Express in the second quarter worth about $26,000. Halbert Hargrove Global Advisors LLC boosted its stake in shares of American Express by 210.7% during the 3rd quarter. Halbert Hargrove Global Advisors LLC now owns 87 shares of the payment services company’s stock worth $29,000 after acquiring an additional 59 shares in the last quarter. Finally, Grey Fox Wealth Advisors LLC acquired a new stake in shares of American Express during the 3rd quarter valued at about $34,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Trading Down 1.7%

Shares of AXP opened at $361.76 on Friday. American Express Company has a 52-week low of $220.43 and a 52-week high of $387.49. The stock has a market cap of $249.20 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The firm’s fifty day moving average is $368.05 and its two-hundred day moving average is $342.30. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last issued its earnings results on Friday, January 30th. The payment services company reported ($11.85) EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($15.41). The business had revenue of ($17,139.00) million during the quarter, compared to analyst estimates of $18.91 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. Research analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Friday, January 2nd will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, January 2nd. American Express’s dividend payout ratio (DPR) is 22.01%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. DZ Bank raised American Express from a “sell” rating to a “hold” rating and set a $340.00 price target for the company in a report on Tuesday, October 21st. UBS Group set a $385.00 price objective on American Express in a research report on Monday, January 12th. Wolfe Research started coverage on American Express in a research note on Monday, December 8th. They set a “peer perform” rating for the company. Compass Point reiterated a “neutral” rating and set a $324.00 target price on shares of American Express in a research report on Monday, October 20th. Finally, Credit Suisse Group set a $328.00 price target on shares of American Express in a report on Monday, January 12th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $353.95.

Insider Buying and Selling at American Express

In other news, CMO Elizabeth Rutledge sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $360.21, for a total value of $18,010,500.00. Following the completion of the sale, the chief marketing officer directly owned 85,577 shares in the company, valued at $30,825,691.17. This represents a 36.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.20% of the stock is currently owned by corporate insiders.

American Express Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.