Mirae Asset Global Investments Co. Ltd. Grows Holdings in American Express Company $AXP

Mirae Asset Global Investments Co. Ltd. grew its position in shares of American Express Company (NYSE:AXP) by 10.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,840 shares of the payment services company’s stock after purchasing an additional 10,441 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in American Express were worth $36,817,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB boosted its position in American Express by 2.2% during the 2nd quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock valued at $721,525,000 after acquiring an additional 49,593 shares in the last quarter. ZEGA Investments LLC purchased a new position in shares of American Express in the 3rd quarter valued at approximately $1,080,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of American Express by 0.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,598,743 shares of the payment services company’s stock valued at $531,038,000 after purchasing an additional 4,080 shares in the last quarter. Dempze Nancy E grew its stake in American Express by 210.2% in the second quarter. Dempze Nancy E now owns 3,459 shares of the payment services company’s stock worth $1,103,000 after purchasing an additional 2,344 shares during the period. Finally, Reliant Investment Management LLC raised its holdings in American Express by 1.9% in the second quarter. Reliant Investment Management LLC now owns 26,189 shares of the payment services company’s stock worth $8,354,000 after purchasing an additional 480 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the business’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 transaction 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 approximately $30,825,691.17. The trade was a 36.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is owned by corporate insiders.

American Express Stock Performance

Shares of American Express stock opened at $356.89 on Thursday. The company has a 50-day simple moving average of $369.10 and a two-hundred day simple moving average of $343.29. American Express Company has a one year low of $220.43 and a one year high of $387.49. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61. The company has a market capitalization of $245.84 billion, a PE ratio of 23.95, a P/E/G ratio of 1.51 and a beta of 1.15.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, January 30th. The payment services company reported ($11.85) earnings per share 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 return on equity of 33.41% and a net margin of 14.97%. Research analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

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

Wall Street Analyst Weigh In

AXP has been the subject of a number of analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $425.00 price objective on shares of American Express in a research report on Monday, January 12th. Evercore ISI set a $400.00 price objective on American Express in a research report on Tuesday, January 6th. Truist Financial lifted their price objective on American Express from $395.00 to $420.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Morgan Stanley set a $395.00 price target on shares of American Express in a research report on Tuesday, January 20th. Finally, HSBC set a $295.00 price objective on American Express and gave the stock a “hold” rating in a report on Friday, October 10th. Nine 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. Based on data from MarketBeat.com, American Express has a consensus rating of “Hold” and an average price target of $353.95.

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.