Prudential PLC Has $8.64 Million Stake in American Express (NYSE:AXP)

Prudential PLC increased its stake in shares of American Express (NYSE:AXP) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,092 shares of the payment services company’s stock after acquiring an additional 1,211 shares during the period. Prudential PLC’s holdings in American Express were worth $8,635,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Venture Visionary Partners LLC grew its position in American Express by 0.3% in the fourth quarter. Venture Visionary Partners LLC now owns 23,211 shares of the payment services company’s stock valued at $4,349,000 after purchasing an additional 65 shares in the last quarter. Global Wealth Management Investment Advisory Inc. grew its position in American Express by 5.5% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 11,587 shares of the payment services company’s stock valued at $2,171,000 after purchasing an additional 609 shares in the last quarter. Cerity Partners LLC grew its position in American Express by 417.3% in the fourth quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock valued at $77,876,000 after purchasing an additional 335,338 shares in the last quarter. Cullen Investment Group LTD. bought a new position in American Express in the fourth quarter valued at $2,460,000. Finally, J.W. Cole Advisors Inc. grew its position in American Express by 35.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 9,806 shares of the payment services company’s stock valued at $1,837,000 after purchasing an additional 2,572 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of American Express from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Royal Bank of Canada lifted their price objective on shares of American Express from $253.00 to $263.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a research report on Tuesday, April 23rd. Oppenheimer reissued an “outperform” rating on shares of American Express in a research report on Friday, April 5th. Finally, Wells Fargo & Company lifted their price objective on shares of American Express from $265.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $215.50.

Read Our Latest Research Report on American Express

American Express Stock Performance

American Express stock traded down $0.68 during midday trading on Friday, hitting $232.67. The company’s stock had a trading volume of 2,170,129 shares, compared to its average volume of 3,063,479. American Express has a 1-year low of $140.91 and a 1-year high of $244.41. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.62 and a quick ratio of 1.62. The company has a 50-day moving average price of $232.59 and a two-hundred day moving average price of $209.44. The company has a market cap of $167.36 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 1.33 and a beta of 1.22.

American Express (NYSE:AXPGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The payment services company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.46%. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. During the same quarter in the previous year, the company earned $2.40 EPS. The business’s revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts predict that American Express will post 13.01 earnings per share for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be given a $0.70 dividend. The ex-dividend date is Friday, July 5th. This is a boost from American Express’s previous quarterly dividend of $0.10. This represents a $2.80 annualized dividend and a dividend yield of 1.20%. American Express’s payout ratio is presently 23.06%.

Insider Activity

In other news, insider Anna Marrs sold 3,592 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total value of $829,500.56. Following the completion of the transaction, the insider now directly owns 19,932 shares in the company, valued at approximately $4,602,896.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Stephen J. Squeri sold 38,873 shares of American Express stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total transaction of $9,276,263.99. Following the sale, the chief executive officer now directly owns 76,310 shares of the company’s stock, valued at approximately $18,209,855.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anna Marrs sold 3,592 shares of American Express stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total transaction of $829,500.56. Following the sale, the insider now directly owns 19,932 shares in the company, valued at $4,602,896.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 177,717 shares of company stock worth $41,680,999. 0.12% of the stock is currently owned by corporate insiders.

American Express Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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