Mizuho Securities USA LLC Boosts Holdings in American Express (NYSE:AXP)

Mizuho Securities USA LLC grew its position in American Express (NYSE:AXP) by 44.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 52,745 shares of the payment services company’s stock after purchasing an additional 16,327 shares during the period. Mizuho Securities USA LLC’s holdings in American Express were worth $15,654,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. ZEGA Investments LLC purchased a new position in shares of American Express during the 4th quarter worth approximately $298,000. Sciencast Management LP purchased a new position in shares of American Express during the 4th quarter worth approximately $3,043,000. Millstone Evans Group LLC purchased a new position in shares of American Express during the 4th quarter worth approximately $731,000. Washington Trust Bank boosted its position in shares of American Express by 43.3% during the 4th quarter. Washington Trust Bank now owns 2,482 shares of the payment services company’s stock worth $737,000 after purchasing an additional 750 shares during the period. Finally, Financial Network Wealth Management LLC purchased a new position in shares of American Express during the 4th quarter worth approximately $216,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Activity at American Express

In other American Express news, Director Michael J. Angelakis acquired 3,700 shares of the stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now owns 3,700 shares of the company’s stock, valued at approximately $998,593. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction on 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 in the company, 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. Insiders own 0.12% of the company’s stock.

American Express Price Performance

Shares of AXP opened at $270.48 on Friday. American Express has a twelve month low of $214.51 and a twelve month high of $326.28. The firm’s fifty day simple moving average is $298.30 and its 200-day simple moving average is $288.31. The firm has a market capitalization of $190.02 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 1.41 and a beta of 1.21. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

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

American Express Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.21%. This is an increase from American Express’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio (DPR) is 23.41%.

Analyst Ratings Changes

AXP has been the subject of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of American Express from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Morgan Stanley increased their price objective on shares of American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Monday, January 27th. HSBC increased their price objective on shares of American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Monness Crespi & Hardt increased their target price on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, UBS Group increased their target price on shares of American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, American Express has an average rating of “Hold” and a consensus target price of $303.52.

American Express Company Profile

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.