Elo Mutual Pension Insurance Co Sells 2,806 Shares of American Express (NYSE:AXP)

Elo Mutual Pension Insurance Co decreased its holdings in American Express (NYSE:AXP) by 5.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,902 shares of the payment services company’s stock after selling 2,806 shares during the period. Elo Mutual Pension Insurance Co’s holdings in American Express were worth $15,404,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. True Wealth Design LLC grew its stake in shares of American Express by 332.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after buying an additional 83 shares during the last quarter. Sellwood Investment Partners LLC bought a new stake in shares of American Express in the 4th quarter valued at about $33,000. Murphy & Mullick Capital Management Corp purchased a new stake in American Express during the 4th quarter valued at about $33,000. Curio Wealth LLC bought a new position in American Express during the 4th quarter worth approximately $37,000. Finally, Itau Unibanco Holding S.A. purchased a new position in American Express in the 3rd quarter worth approximately $38,000. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of AXP opened at $275.99 on Thursday. The firm’s 50-day simple moving average is $296.76 and its two-hundred day simple moving average is $289.15. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.28. The stock has a market cap of $193.89 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (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%. Analysts anticipate that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The company 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 $0.82 dividend. This is a positive change from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Friday, April 4th. American Express’s payout ratio is presently 23.41%.

Insider Buying and Selling at American Express

In related news, Director Michael J. Angelakis purchased 3,700 shares of American Express stock in a transaction dated Friday, March 7th. The stock was purchased at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the purchase, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the transaction, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

AXP has been the subject of a number of analyst reports. Royal Bank of Canada increased their price objective on American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. 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. StockNews.com lowered shares of American Express from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Monness Crespi & Hardt upped 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. Finally, Morgan Stanley raised their target price on American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $302.57.

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.