Nippon Life Global Investors Americas Inc. Purchases 6,240 Shares of American Express Company $AXP

Nippon Life Global Investors Americas Inc. raised its position in shares of American Express Company (NYSE:AXP) by 12.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,110 shares of the payment services company’s stock after purchasing an additional 6,240 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in American Express were worth $18,305,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in American Express in the second quarter worth about $1,897,335,000. Laurel Wealth Advisors LLC raised its holdings in shares of American Express by 31,595.9% in 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 purchasing an additional 1,736,513 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 worth $4,282,984,000 after purchasing an additional 1,349,746 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of American Express by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 3,125,133 shares of the payment services company’s stock valued at $988,676,000 after purchasing an additional 646,039 shares in the last quarter. Finally, Provident Trust Co. increased its holdings 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 valued at $353,740,000 after buying an additional 640,214 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

NYSE AXP opened at $365.03 on Friday. The stock’s fifty day moving average price is $368.55 and its 200 day moving average price is $341.19. American Express Company has a 1 year low of $220.43 and a 1 year high of $387.49. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. The company has a market cap of $251.45 billion, a price-to-earnings ratio of 24.50, a PEG 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 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 analyst estimates of $18.91 billion. As a group, equities research analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

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

Insider Activity

In other American Express news, insider Douglas Tabish sold 2,515 shares of American Express stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total transaction of $894,359.15. Following the completion of the transaction, the insider owned 2,515 shares in the company, valued at approximately $894,359.15. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Denise Pickett sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total value of $1,753,650.00. Following the completion of the sale, the insider owned 7,726 shares in the company, valued at $2,709,739.98. The trade was a 39.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 57,515 shares of company stock valued at $20,658,509 in the last ninety days. Insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AXP. HSBC set a $295.00 target price on American Express and gave the company a “hold” rating in a research report on Friday, October 10th. BTIG Research reiterated a “sell” rating and issued a $328.00 target price on shares of American Express in a research note on Monday, January 12th. DZ Bank raised shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 price target for the company in a research report on Tuesday, October 21st. Cowen reiterated a “hold” rating on shares of American Express in a research note on Thursday, January 8th. Finally, Morgan Stanley set a $370.00 target price on shares of American Express in a research note on Tuesday, December 16th. Nine analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.