Korea Investment CORP Lowers Stock Holdings in American Express (NYSE:AXP)

Korea Investment CORP lessened its holdings in shares of American Express (NYSE:AXP) by 3.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 648,184 shares of the payment services company’s stock after selling 25,842 shares during the quarter. Korea Investment CORP’s holdings in American Express were worth $192,375,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Proficio Capital Partners LLC raised its stake in shares of American Express by 36,719.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock valued at $300,289,000 after acquiring an additional 1,009,042 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in American Express during the 4th quarter worth about $292,081,000. World Investment Advisors LLC raised its position in American Express by 35,213.7% in the 3rd quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock valued at $86,002,000 after purchasing an additional 316,219 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of American Express by 73.7% in the 3rd quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock valued at $191,842,000 after buying an additional 300,138 shares during the period. Finally, Capital Wealth Planning LLC grew its position in shares of American Express by 22.0% during the fourth quarter. Capital Wealth Planning LLC now owns 1,517,668 shares of the payment services company’s stock worth $450,429,000 after buying an additional 273,813 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on AXP. JPMorgan Chase & Co. lifted their price target on shares of American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 14th. Baird R W raised shares of American Express from a “strong sell” rating to a “hold” rating in a research report on Friday, March 14th. Argus lowered American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. The Goldman Sachs Group decreased their price target on American Express from $367.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Finally, Truist Financial assumed coverage on American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, American Express presently has an average rating of “Hold” and an average price target of $302.57.

American Express Stock Performance

NYSE AXP opened at $275.99 on Thursday. The firm has a market cap of $193.89 billion, a P/E ratio of 19.70, a P/E/G ratio of 1.41 and a beta of 1.21. American Express has a 52-week low of $214.51 and a 52-week high of $326.28. The business’s 50-day moving average price is $296.76 and its 200 day moving average price is $289.15. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last announced 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 research analysts expect that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is currently 23.41%.

Insider Buying and Selling at American Express

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total value of $3,027,327.45. Following the completion of the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at $4,308,795. This trade represents a 41.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael J. Angelakis bought 3,700 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the transaction, the director now owns 3,700 shares of the company’s stock, valued at $998,593. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.12% of the stock is owned by corporate insiders.

American Express Company Profile

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.