Maj Invest Holding A S Sells 52,040 Shares of American Express Company $AXP

Maj Invest Holding A S decreased its stake in shares of American Express Company (NYSE:AXP) by 10.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 466,239 shares of the payment services company’s stock after selling 52,040 shares during the quarter. American Express comprises 5.3% of Maj Invest Holding A S’s holdings, making the stock its 9th biggest position. Maj Invest Holding A S owned approximately 0.07% of American Express worth $154,868,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Briaud Financial Planning Inc acquired a new position in shares of American Express in the 2nd quarter valued at $26,000. Access Investment Management LLC purchased a new stake in American Express during the 2nd quarter valued at about $26,000. Manning & Napier Advisors LLC acquired a new position in shares of American Express in the third quarter valued at about $27,000. Halbert Hargrove Global Advisors LLC raised its stake in shares of American Express by 210.7% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 87 shares of the payment services company’s stock worth $29,000 after purchasing an additional 59 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC purchased a new position in shares of American Express in the third quarter worth about $34,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CMO Elizabeth Rutledge sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the completion of the sale, the chief marketing officer owned 85,577 shares in the company, valued at approximately $30,825,691.17. The trade was a 36.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AXP shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $420.00 target price on shares of American Express in a research report on Tuesday, January 6th. Wells Fargo & Company upped their price objective on shares of American Express from $400.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $425.00 price objective on shares of American Express in a research note on Monday, January 12th. DZ Bank upgraded shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 target price for the company in a research report on Tuesday, October 21st. Finally, Wall Street Zen lowered shares of American Express from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Nine research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $353.95.

American Express Stock Up 0.4%

Shares of NYSE:AXP opened at $363.30 on Tuesday. The business has a fifty day moving average of $368.48 and a two-hundred day moving average of $342.91. American Express Company has a 52-week low of $220.43 and a 52-week high of $387.49. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. The stock has a market cap of $250.26 billion, a P/E ratio of 24.38, a PEG ratio of 1.52 and a beta of 1.15.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, January 30th. The payment services company reported ($11.85) earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($15.41). American Express had a net margin of 14.97% and a return on equity of 33.41%. The company had revenue of ($17,139.00) million during the quarter, compared to analysts’ expectations of $18.91 billion. On average, research analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

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

American Express Company Profile

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.