Nippon Life Global Investors Americas Inc. Boosts Stock Holdings in American Express Company $AXP

Nippon Life Global Investors Americas Inc. increased its position in shares of American Express Company (NYSE:AXP) by 12.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 55,110 shares of the payment services company’s stock after buying an additional 6,240 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in American Express were worth $18,305,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in American Express in the 2nd quarter worth about $1,897,335,000. Laurel Wealth Advisors LLC lifted its position in shares of American Express by 31,595.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,742,009 shares of the payment services company’s stock valued at $555,666,000 after buying an additional 1,736,513 shares in the last quarter. Geode Capital Management LLC grew its stake in American Express by 11.1% in the 2nd quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock valued at $4,282,984,000 after acquiring an additional 1,349,746 shares during the period. Ameriprise Financial Inc. increased its holdings in American Express by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,125,133 shares of the payment services company’s stock worth $988,676,000 after acquiring an additional 646,039 shares in the last quarter. Finally, Provident Trust Co. raised its position in American Express by 136.6% during the second quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock worth $353,740,000 after acquiring an additional 640,214 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insiders Place Their Bets

In related news, insider Douglas Tabish sold 2,515 shares of the business’s stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total value of $894,359.15. Following the sale, the insider directly owned 2,515 shares in the company, valued at approximately $894,359.15. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Denise Pickett sold 5,000 shares of American Express stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the sale, the insider owned 7,726 shares of the company’s stock, valued at approximately $2,709,739.98. This represents a 39.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 57,515 shares of company stock valued at $20,658,509 over the last quarter. 0.20% of the stock is owned by insiders.

American Express Stock Up 2.1%

NYSE AXP opened at $365.03 on Friday. American Express Company has a 52 week low of $220.43 and a 52 week high of $387.49. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. The business’s fifty day simple moving average is $368.55 and its 200-day simple moving average is $341.19. The firm has a market cap of $251.45 billion, a PE ratio of 24.50, a P/E/G ratio of 1.53 and a beta of 1.15.

American Express (NYSE:AXP) last announced 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). American Express had a net margin of 14.97% and a return on equity of 33.41%. The firm had revenue of ($17,139.00) million during the quarter, compared to analysts’ expectations of $18.91 billion. As a group, equities analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have issued reports on AXP shares. JPMorgan Chase & Co. increased their price objective on shares of American Express from $360.00 to $385.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Royal Bank Of Canada restated an “outperform” rating and set a $425.00 price target on shares of American Express in a research report on Monday, January 12th. Weiss Ratings upgraded American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Truist Financial raised their target price on American Express from $395.00 to $420.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. Finally, UBS Group set a $385.00 price target on American Express in a research report on Monday, January 12th. Nine equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $352.82.

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.