American Express (NYSE:AXP) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in American Express (NYSE:AXP) by 7.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,497 shares of the payment services company’s stock after buying an additional 5,245 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in American Express were worth $21,548,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smith & Howard Wealth Management LLC acquired a new position in American Express during the third quarter worth $233,000. Burford Brothers Inc. raised its holdings in American Express by 12.0% during the third quarter. Burford Brothers Inc. now owns 3,676 shares of the payment services company’s stock worth $997,000 after purchasing an additional 395 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC acquired a new position in American Express during the third quarter worth $303,000. Trueblood Wealth Management LLC raised its holdings in American Express by 17.2% during the third quarter. Trueblood Wealth Management LLC now owns 3,034 shares of the payment services company’s stock worth $823,000 after purchasing an additional 445 shares during the last quarter. Finally, Mediolanum International Funds Ltd raised its holdings in American Express by 10.4% during the third quarter. Mediolanum International Funds Ltd now owns 143,167 shares of the payment services company’s stock worth $38,743,000 after purchasing an additional 13,428 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AXP. Bank of America lifted their price objective on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Monness Crespi & Hardt boosted their price target on American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Evercore ISI boosted their price target on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. The Goldman Sachs Group boosted their price target on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Wells Fargo & Company boosted their price target on American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $253.09.

Insiders Place Their Bets

In other American Express news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the transaction, the insider now owns 111,656 shares in the company, valued at $30,176,150.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.12% of the stock is currently owned by insiders.

American Express Price Performance

AXP stock opened at $267.35 on Friday. The stock has a 50-day moving average price of $263.88 and a two-hundred day moving average price of $245.57. American Express has a 12-month low of $141.02 and a 12-month high of $286.36. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The company has a market cap of $192.31 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The firm had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.30 earnings per share. As a group, research analysts predict that American Express will post 13.14 EPS for the current year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is presently 23.06%.

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.