Factory Mutual Insurance Co. Has $25.52 Million Stock Position in American Express (NYSE:AXP)

Factory Mutual Insurance Co. lessened its stake in shares of American Express (NYSE:AXP) by 3.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 112,100 shares of the payment services company’s stock after selling 3,800 shares during the period. Factory Mutual Insurance Co.’s holdings in American Express were worth $25,524,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in American Express in the 4th quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new position in shares of American Express during the fourth quarter valued at $28,000. Tennessee Valley Asset Management Partners acquired a new position in American Express during the fourth quarter valued at $28,000. Pacifica Partners Inc. acquired a new stake in American Express during the 4th quarter worth about $29,000. Finally, Baldwin Brothers LLC MA increased its holdings in shares of American Express by 134.8% in the 4th quarter. Baldwin Brothers LLC MA now owns 155 shares of the payment services company’s stock valued at $29,000 after purchasing an additional 89 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of American Express from $265.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, June 4th. Morgan Stanley increased their price objective on American Express from $222.00 to $226.00 and gave the stock an “equal weight” rating in a report on Monday, April 22nd. JPMorgan Chase & Co. upped their target price on American Express from $214.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. Citigroup assumed coverage on American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 price target for the company. Finally, StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $220.30.

Check Out Our Latest Analysis on American Express

American Express Stock Performance

American Express stock traded down $1.20 during trading hours on Tuesday, hitting $230.27. The stock had a trading volume of 883,187 shares, compared to its average volume of 3,035,063. The company has a market cap of $165.63 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 1.31 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 fifty-two week low of $140.91 and a fifty-two week high of $244.41. The company has a 50-day moving average of $233.96 and a two-hundred day moving average of $214.72.

American Express (NYSE:AXPGet Free Report) last posted its quarterly 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. American Express had a net margin of 14.50% and a return on equity of 32.46%. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. During the same quarter in the previous year, the company earned $2.40 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that American Express will post 13 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Friday, July 5th. This is a positive change from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio is 23.06%.

Insider Buying and Selling at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total value of $27,267,303.96. Following the completion of the transaction, the insider now directly owns 110,318 shares of the company’s stock, valued at approximately $25,642,315.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total value of $27,267,303.96. Following the sale, the insider now owns 110,318 shares in the company, valued at approximately $25,642,315.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anna Marrs sold 3,592 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $230.93, for a total transaction of $829,500.56. Following the sale, the insider now owns 19,932 shares of the company’s stock, valued at approximately $4,602,896.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 177,717 shares of company stock valued at $41,680,999. 0.11% of the stock is currently owned by corporate insiders.

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.

See Also

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

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