Meiji Yasuda Asset Management Co Ltd. Increases Stock Holdings in American Express (NYSE:AXP)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in American Express (NYSE:AXP) by 11.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,862 shares of the payment services company’s stock after buying an additional 4,739 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in American Express were worth $14,205,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of American Express in the fourth quarter valued at $832,000. World Investment Advisors LLC lifted its holdings in American Express by 430.6% in the 3rd quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock valued at $1,292,000 after purchasing an additional 3,867 shares in the last quarter. Keybank National Association OH boosted its stake in shares of American Express by 3.7% during the 4th quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock worth $103,858,000 after purchasing an additional 12,364 shares during the last quarter. LVM Capital Management Ltd. MI grew its holdings in shares of American Express by 3.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock worth $25,626,000 after buying an additional 2,557 shares in the last quarter. Finally, Edge Capital Group LLC raised its position in shares of American Express by 20.9% in the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock valued at $1,915,000 after buying an additional 1,113 shares during the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Price Performance

Shares of NYSE AXP opened at $277.98 on Tuesday. The company has a market capitalization of $195.29 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. American Express has a twelve month low of $214.51 and a twelve month high of $326.28. The business has a 50 day simple moving average of $297.92 and a 200-day simple moving average of $288.99. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

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

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be given a $0.82 dividend. 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. This represents a $3.28 annualized dividend and a yield of 1.18%. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Insider Buying and Selling at American Express

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

Analyst Ratings Changes

AXP has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their target price on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. StockNews.com downgraded shares of American Express from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Monness Crespi & Hardt boosted their price objective on shares of American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. increased their target price on American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Finally, Citigroup lowered their price target on American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, American Express presently has a consensus rating of “Hold” and an average price target of $302.57.

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.