2Xideas AG Boosts Stock Position in American Express (NYSE:AXP)

2Xideas AG boosted its holdings in shares of American Express (NYSE:AXP) by 39.7% during the fourth quarter, Holdings Channel reports. The firm owned 46,381 shares of the payment services company’s stock after acquiring an additional 13,173 shares during the quarter. American Express makes up about 1.8% of 2Xideas AG’s investment portfolio, making the stock its 16th biggest position. 2Xideas AG’s holdings in American Express were worth $13,765,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of American Express by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 11,752,084 shares of the payment services company’s stock valued at $3,484,312,000 after buying an additional 268,572 shares during the period. Fisher Asset Management LLC increased its position in American Express by 1.1% during the 4th quarter. Fisher Asset Management LLC now owns 8,761,336 shares of the payment services company’s stock valued at $2,600,277,000 after purchasing an additional 95,927 shares during the period. Norges Bank purchased a new stake in shares of American Express in the 4th quarter worth about $1,785,867,000. Charles Schwab Investment Management Inc. boosted its stake in shares of American Express by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,878,434 shares of the payment services company’s stock valued at $1,151,080,000 after purchasing an additional 14,282 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of American Express by 12.7% during the fourth quarter. Nordea Investment Management AB now owns 2,203,772 shares of the payment services company’s stock valued at $655,137,000 after buying an additional 247,864 shares during the period. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In other news, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value of $4,765,295.26. Following the transaction, the insider now owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael J. Angelakis acquired 3,700 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was purchased at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the acquisition, the director now directly owns 3,700 shares in the company, valued at $998,593. This represents a ? increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on AXP. HSBC raised their target price on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Baird R W upgraded shares of American Express from a “strong sell” rating to a “hold” rating in a report on Friday, March 14th. BTIG Research increased their price target on shares of American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a research note on Friday, January 24th. Royal Bank of Canada boosted their price objective on shares of American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Finally, Truist Financial lowered their target price on shares of American Express from $350.00 to $343.00 and set a “buy” rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $302.24.

American Express Stock Performance

Shares of AXP stock opened at $233.50 on Friday. American Express has a 52-week low of $214.51 and a 52-week high of $326.28. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The stock has a market cap of $164.04 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16. The business has a 50-day simple moving average of $288.96 and a 200-day simple moving average of $289.44.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. On average, equities analysts expect that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.40%. This is an increase from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio (DPR) is presently 23.41%.

About American Express

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.