Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of American Express (NYSE:AXP) by 2.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 248,044 shares of the payment services company’s stock after acquiring an additional 6,497 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in American Express were worth $29,991,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Clearview Wealth Advisors LLC acquired a new stake in shares of American Express during the fourth quarter valued at approximately $27,000. Hexavest Inc. acquired a new stake in shares of American Express during the fourth quarter valued at approximately $29,000. Accel Wealth Management acquired a new position in American Express in the 4th quarter valued at approximately $31,000. Paces Ferry Wealth Advisors LLC acquired a new position in shares of American Express during the 3rd quarter worth $34,000. Finally, Joseph P. Lucia & Associates LLC acquired a new position in shares of American Express during the 4th quarter worth $34,000. 83.54% of the stock is currently owned by hedge funds and other institutional investors.
American Express stock opened at $135.95 on Tuesday. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.47 and a quick ratio of 1.47. American Express has a fifty-two week low of $67.00 and a fifty-two week high of $136.47. The company’s 50 day simple moving average is $124.01 and its 200 day simple moving average is $111.52. The firm has a market capitalization of $109.52 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 3.27 and a beta of 1.36.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 10th. Investors of record on Friday, January 8th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date was Thursday, January 7th. American Express’s payout ratio is currently 20.98%.
Several research firms recently issued reports on AXP. JPMorgan Chase & Co. raised shares of American Express from an “underweight” rating to an “overweight” rating and set a $148.00 price objective for the company in a report on Tuesday, January 19th. Zacks Investment Research downgraded shares of American Express from a “hold” rating to a “sell” rating and set a $138.00 price objective on the stock. in a report on Monday. Barclays upgraded shares of American Express from an “equal weight” rating to a “positive” rating and increased their target price for the company from $114.00 to $132.00 in a research note on Thursday, December 10th. They noted that the move was a valuation call. Robert W. Baird lowered American Express from an “outperform” rating to a “neutral” rating and set a $126.00 price target on the stock. in a research note on Tuesday, February 16th. Finally, Wells Fargo & Company raised their price objective on American Express from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 4th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $119.92.
About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; expense management products and services; and lifestyle services.
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