Cullinan Associates Inc. Purchases 2,960 Shares of American Express (NYSE:AXP)


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Cullinan Associates Inc. increased its position in American Express (NYSE:AXP) by 4.3% during the first quarter, Holdings Channel.com reports. The firm owned 71,935 shares of the payment services company’s stock after buying an additional 2,960 shares during the quarter. Cullinan Associates Inc.’s holdings in American Express were worth $10,174,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fisher Asset Management LLC lifted its holdings in shares of American Express by 2.6% in the 4th quarter. Fisher Asset Management LLC now owns 14,982,300 shares of the payment services company’s stock worth $1,811,510,000 after purchasing an additional 377,871 shares in the last quarter. Morgan Stanley raised its position in American Express by 0.9% in the 4th quarter. Morgan Stanley now owns 8,740,430 shares of the payment services company’s stock valued at $1,056,805,000 after buying an additional 77,624 shares during the last quarter. Norges Bank purchased a new stake in American Express in the 4th quarter valued at $816,426,000. Artisan Partners Limited Partnership increased its position in shares of American Express by 0.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 5,350,632 shares of the payment services company’s stock valued at $646,945,000 after purchasing an additional 41,549 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of American Express by 25.2% during the 4th quarter. Lazard Asset Management LLC now owns 5,059,501 shares of the payment services company’s stock valued at $611,741,000 after purchasing an additional 1,018,919 shares during the last quarter. Institutional investors own 83.54% of the company’s stock.

Shares of NYSE:AXP traded up $0.92 during midday trading on Thursday, reaching $148.10. 62,304 shares of the company’s stock traded hands, compared to its average volume of 3,546,488. The company has a market cap of $118.99 billion, a price-to-earnings ratio of 36.52, a P/E/G ratio of 3.27 and a beta of 1.36. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.47 and a current ratio of 1.47. American Express has a one year low of $76.00 and a one year high of $151.46. The stock has a 50 day moving average of $145.16 and a 200 day moving average of $123.99.

American Express (NYSE:AXP) last announced its quarterly earnings results on Monday, January 25th. The payment services company reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.50. The firm had revenue of $9.35 billion for the quarter, compared to the consensus estimate of $9.32 billion. American Express had a return on equity of 21.31% and a net margin of 8.84%. The company’s quarterly revenue was down 17.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.03 earnings per share. Sell-side analysts predict that American Express will post 4.85 EPS for the current fiscal year.

The company also recently disclosed a special dividend, which will be paid on Monday, May 10th. Investors of record on Friday, April 2nd will be given a dividend of $0.43 per share. This represents a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, March 31st. American Express’s dividend payout ratio (DPR) is presently 20.98%.

Several brokerages have recently issued reports on AXP. Morgan Stanley raised their target price on American Express from $165.00 to $166.00 and gave the company an “overweight” rating in a research report on Thursday, April 1st. Oppenheimer cut their target price on American Express from $136.00 to $128.00 and set an “outperform” rating for the company in a research note on Wednesday, January 27th. Credit Suisse Group cut their target price on American Express from $120.00 to $115.00 and set an “underperform” rating for the company in a research note on Wednesday, January 27th. DZ Bank upgraded American Express from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Thursday, January 28th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on American Express from $108.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, January 6th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. American Express has a consensus rating of “Hold” and an average price target of $122.38.

In related news, insider Douglas E. Buckminster sold 32,833 shares of the company’s stock in a transaction on Tuesday, March 9th. The stock was sold at an average price of $146.08, for a total transaction of $4,796,244.64. Following the completion of the sale, the insider now owns 111,247 shares in the company, valued at $16,250,961.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Anre D. Williams sold 59,352 shares of the company’s stock in a transaction on Friday, March 5th. The shares were sold at an average price of $145.88, for a total value of $8,658,269.76. Following the sale, the insider now owns 85,522 shares of the company’s stock, valued at approximately $12,475,949.36. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

American Express Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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