Point72 Europe London LLP Acquires Shares of 28,661 American Express (NYSE:AXP)

Point72 Europe London LLP acquired a new stake in American Express (NYSE:AXP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 28,661 shares of the payment services company’s stock, valued at approximately $5,369,000.

Several other hedge funds also recently added to or reduced their stakes in AXP. BKM Wealth Management LLC purchased a new stake in shares of American Express during the fourth quarter worth about $28,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of American Express during the fourth quarter worth about $28,000. Sachetta LLC purchased a new stake in shares of American Express during the fourth quarter worth about $29,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of American Express during the fourth quarter worth about $29,000. Finally, Baldwin Brothers LLC MA grew its stake in American Express by 134.8% in the fourth quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock worth $29,000 after purchasing an additional 89 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on AXP shares. Evercore ISI lifted their price target on American Express from $243.00 to $255.00 and gave the stock an “in-line” rating in a research note on Wednesday, April 24th. Oppenheimer reiterated an “outperform” rating on shares of American Express in a research note on Friday, April 5th. TD Cowen lifted their target price on American Express from $221.00 to $225.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. William Blair restated an “outperform” rating on shares of American Express in a research note on Monday, June 3rd. Finally, Barclays restated an “equal weight” rating and issued a $221.00 target price (up from $220.00) on shares of American Express in a research note on Tuesday, April 9th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $220.30.

View Our Latest Stock Report on American Express

Insider Activity

In other news, EVP Quinn Jessica Lieberman sold 3,141 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $232.36, for a total transaction of $729,842.76. Following the completion of the sale, the executive vice president now owns 258 shares in the company, valued at approximately $59,948.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Quinn Jessica Lieberman sold 3,141 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $232.36, for a total transaction of $729,842.76. Following the completion of the sale, the executive vice president now owns 258 shares in the company, valued at approximately $59,948.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Skyler sold 14,802 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $241.73, for a total value of $3,578,087.46. Following the sale, the insider now owns 16,371 shares of the company’s stock, valued at approximately $3,957,361.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 177,717 shares of company stock worth $41,680,999. Insiders own 0.11% of the company’s stock.

American Express Price Performance

AXP traded down $7.77 during trading on Tuesday, reaching $224.67. The stock had a trading volume of 3,166,842 shares, compared to its average volume of 3,063,325. The firm has a market capitalization of $161.61 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 1.32 and a beta of 1.22. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. American Express has a 1-year low of $140.91 and a 1-year high of $244.41. The stock has a 50 day moving average of $232.67 and a two-hundred day moving average of $211.00.

American Express (NYSE:AXPGet Free Report) last released its earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The firm had revenue of $15.80 billion during the quarter, compared to the consensus estimate of $15.79 billion. American Express had a return on equity of 32.46% and a net margin of 14.50%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.40 earnings per share. As a group, equities analysts anticipate that American Express will post 13.01 EPS for the current fiscal year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, July 5th. This is an increase from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio is 23.06%.

American Express Company Profile

(Free Report)

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.

Further Reading

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

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