Nearwater Capital Markets Ltd Takes Position in American Express (NYSE:AXP)

Nearwater Capital Markets Ltd purchased a new position in shares of American Express (NYSE:AXP) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 170,000 shares of the payment services company’s stock, valued at approximately $50,454,000. American Express accounts for approximately 1.4% of Nearwater Capital Markets Ltd’s portfolio, making the stock its 17th biggest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in American Express in the fourth quarter valued at approximately $1,785,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in American Express by 463.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company’s stock valued at $1,293,259,000 after purchasing an additional 3,583,959 shares in the last quarter. Capital Research Global Investors lifted its stake in American Express by 186.3% during the fourth quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company’s stock worth $886,426,000 after purchasing an additional 1,943,463 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in shares of American Express by 346.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company’s stock worth $600,072,000 after purchasing an additional 1,568,747 shares in the last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of American Express by 36,719.1% during the 4th 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 during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Price Performance

NYSE:AXP opened at $302.28 on Wednesday. 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 has a 12 month low of $220.43 and a 12 month high of $326.28. The business’s 50-day moving average is $264.02 and its 200 day moving average is $287.55. The company has a market capitalization of $211.77 billion, a P/E ratio of 21.58, a P/E/G ratio of 1.41 and a beta of 1.23.

American Express (NYSE:AXP) last posted its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share for the quarter, beating analysts’ consensus estimates of $3.47 by $0.17. American Express had a net margin of 15.36% and a return on equity of 32.65%. The firm had revenue of $16.97 billion during the quarter, compared to analyst estimates of $17.04 billion. During the same period last year, the firm posted $3.33 earnings per share. On average, equities research analysts forecast that American Express will post 15.33 earnings per share for the current fiscal year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 4th were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 1.09%. This is a positive change from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, April 4th. American Express’s payout ratio is presently 22.91%.

Analyst Ratings Changes

Several analysts have weighed in on AXP shares. Wells Fargo & Company boosted their price target on shares of American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Redburn Atlantic upgraded American Express from a “sell” rating to a “neutral” rating and dropped their target price for the company from $270.00 to $255.00 in a report on Wednesday, April 23rd. Truist Financial decreased their price target on American Express from $340.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, April 22nd. StockNews.com lowered American Express from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Finally, Bank of America raised shares of American Express from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $325.00 to $274.00 in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $295.05.

Insider Buying and Selling at American Express

In other American Express news, insider Howard Grosfield sold 9,450 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the transaction, the insider now owns 9,402 shares of the company’s stock, valued at $2,590,251. This represents a 50.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Glenda G. Mcneal sold 3,019 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total transaction of $799,008.54. Following the sale, the insider now directly owns 10,919 shares of the company’s stock, valued at $2,889,822.54. This represents a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

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.