Mirabaud Asset Management Ltd Has $7.27 Million Stock Holdings in American Express (NYSE:AXP)

Mirabaud Asset Management Ltd trimmed its holdings in shares of American Express (NYSE:AXP) by 17.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,456 shares of the payment services company’s stock after selling 5,205 shares during the period. American Express makes up about 3.4% of Mirabaud Asset Management Ltd’s holdings, making the stock its 11th biggest position. Mirabaud Asset Management Ltd’s holdings in American Express were worth $7,272,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of American Express in the 4th quarter valued at about $1,785,867,000. Proficio Capital Partners LLC grew its position in American Express by 36,719.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock valued at $300,289,000 after purchasing an additional 1,009,042 shares in the last quarter. Raymond James Financial Inc. acquired a new position in American Express in the 4th quarter valued at approximately $292,081,000. World Investment Advisors LLC lifted its position in American Express by 35,213.7% in the 3rd quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock worth $86,002,000 after buying an additional 316,219 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of American Express by 73.7% during the 3rd quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock valued at $191,842,000 after buying an additional 300,138 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Express

In other American Express news, Director Michael J. Angelakis purchased 3,700 shares of the stock in a transaction on Friday, March 7th. The shares were purchased at an average price of $269.89 per share, with a total value of $998,593.00. Following the acquisition, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AXP shares. Citigroup dropped their price target on shares of American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Keefe, Bruyette & Woods upped their target price on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Argus lowered American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. The Goldman Sachs Group dropped their price objective on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Finally, Monness Crespi & Hardt raised their price objective on shares of American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $302.24.

American Express Stock Performance

Shares of NYSE AXP opened at $233.50 on Friday. American Express has a 12 month low of $214.51 and a 12 month high of $326.28. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The company has a market cap of $164.04 billion, a P/E ratio of 16.67, a P/E/G ratio of 1.41 and a beta of 1.16. The business’s 50 day moving average is $288.96 and its two-hundred day moving average is $289.28.

American Express (NYSE:AXP) last released its earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. On average, equities analysts expect that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a dividend of $0.82 per share. The ex-dividend date is Friday, April 4th. This is a boost from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.40%. American Express’s payout ratio is currently 23.41%.

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.