UniSuper Management Pty Ltd Buys 6,145 Shares of American Express Company $AXP

UniSuper Management Pty Ltd increased its stake in shares of American Express Company (NYSE:AXP) by 5.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

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

American Express Stock Performance

AXP opened at $361.76 on Friday. The firm has a market cap of $249.20 billion, a P/E ratio of 24.28, a PEG ratio of 1.54 and a beta of 1.15. American Express Company has a 1-year low of $220.43 and a 1-year high of $387.49. The company has a 50 day simple moving average of $368.05 and a two-hundred day simple moving average of $342.30. 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 announced its quarterly earnings data on Friday, January 30th. The payment services company reported ($11.85) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $18.91 billion. Equities analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. BTIG Research reaffirmed a “sell” rating and set a $328.00 price target on shares of American Express in a research report on Monday, January 12th. The Goldman Sachs Group restated a “buy” rating and set a $420.00 target price on shares of American Express in a research report on Tuesday, January 6th. Truist Financial upped their target price on shares of American Express from $395.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 22nd. UBS Group set a $385.00 price target on shares of American Express in a research note on Monday, January 12th. Finally, Morgan Stanley set a $395.00 price objective on shares of American Express in a research report on Tuesday. Nine analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $353.95.

Insiders Place Their Bets

In other American Express news, CMO Elizabeth Rutledge sold 50,000 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were 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 of the company’s stock, valued at $30,825,691.17. This trade represents a 36.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.20% of the stock is owned by insiders.

American Express Company 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.