UniSuper Management Pty Ltd Raises Holdings in American Express Company $AXP

UniSuper Management Pty Ltd increased its position in American Express Company (NYSE:AXP) by 5.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 115,245 shares of the payment services company’s stock after purchasing an additional 6,145 shares during the period. UniSuper Management Pty Ltd’s holdings in American Express were worth $38,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gratus Wealth Advisors LLC raised its holdings in shares of American Express by 0.8% during the 3rd quarter. Gratus Wealth Advisors LLC now owns 3,712 shares of the payment services company’s stock worth $1,233,000 after acquiring an additional 28 shares in the last quarter. McGlone Suttner Wealth Management Inc. raised its stake in American Express by 1.0% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 2,910 shares of the payment services company’s stock valued at $967,000 after purchasing an additional 29 shares in the last quarter. Walkner Condon Financial Advisors LLC raised its stake in American Express by 2.1% during the third quarter. Walkner Condon Financial Advisors LLC now owns 1,378 shares of the payment services company’s stock valued at $458,000 after purchasing an additional 29 shares in the last quarter. Sandy Cove Advisors LLC lifted its position in American Express by 2.1% during the third quarter. Sandy Cove Advisors LLC now owns 1,462 shares of the payment services company’s stock valued at $485,000 after purchasing an additional 30 shares during the last quarter. Finally, Bath Savings Trust Co grew its stake in shares of American Express by 1.1% in the 3rd quarter. Bath Savings Trust Co now owns 2,922 shares of the payment services company’s stock worth $971,000 after buying an additional 31 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AXP has been the topic of several recent research reports. BTIG Research restated a “sell” rating and set a $328.00 target price on shares of American Express in a research report on Monday, January 12th. The Goldman Sachs Group reissued a “buy” rating and set a $420.00 price objective on shares of American Express in a research note on Tuesday, January 6th. Truist Financial upped their price objective on American Express from $395.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Morgan Stanley set a $395.00 target price on American Express in a report on Tuesday. Finally, Credit Suisse Group set a $328.00 target price on American Express in a report on Monday, January 12th. Nine investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $353.95.

Insider Activity at American Express

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $360.21, for a total value of $18,010,500.00. Following the transaction, the chief marketing officer owned 85,577 shares of the company’s stock, valued at $30,825,691.17. This trade represents a 36.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.

American Express Stock Down 1.7%

Shares of NYSE:AXP opened at $361.76 on Friday. The firm has a market capitalization 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 business has a 50 day simple moving average of $368.05 and a two-hundred day simple moving average of $342.30. American Express Company has a 1 year low of $220.43 and a 1 year high of $387.49. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59.

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

American Express Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be issued a $0.82 dividend. The ex-dividend date is Friday, January 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. American Express’s dividend payout ratio is presently 22.01%.

About American Express

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.