American Express (NYSE:AXP) Shares Acquired by National Bank of Canada FI

Posted by on Apr 3rd, 2023

National Bank of Canada FI lifted its position in shares of American Express (NYSE:AXP) by 41.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 178,261 shares of the payment services company’s stock after acquiring an additional 51,876 shares during the quarter. National Bank of Canada FI’s holdings in American Express were worth $26,338,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc increased its stake in shares of American Express by 2.4% during the second quarter. Legal & General Group Plc now owns 4,928,905 shares of the payment services company’s stock worth $683,249,000 after acquiring an additional 115,738 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of American Express by 4.9% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 22,653 shares of the payment services company’s stock worth $3,056,000 after acquiring an additional 1,052 shares during the period. Gradient Investments LLC grew its position in American Express by 9.4% during the third quarter. Gradient Investments LLC now owns 33,110 shares of the payment services company’s stock worth $4,467,000 after buying an additional 2,839 shares during the period. Hanson & Doremus Investment Management grew its position in American Express by 38.6% during the fourth quarter. Hanson & Doremus Investment Management now owns 3,480 shares of the payment services company’s stock worth $514,000 after buying an additional 970 shares during the period. Finally, Merit Financial Group LLC grew its position in American Express by 6.8% during the fourth quarter. Merit Financial Group LLC now owns 7,732 shares of the payment services company’s stock worth $1,142,000 after buying an additional 491 shares during the period. 83.30% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Performance

Shares of AXP opened at $164.95 on Monday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market capitalization of $122.73 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 1.00 and a beta of 1.20. The company’s 50 day simple moving average is $169.97 and its 200 day simple moving average is $155.92. American Express has a 1 year low of $130.65 and a 1 year high of $194.00.

American Express (NYSE:AXP – Get Rating) last announced its quarterly earnings data on Friday, January 27th. The payment services company reported $2.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($0.11). The firm had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $14.25 billion. American Express had a net margin of 14.16% and a return on equity of 31.76%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.18 EPS. On average, sell-side analysts predict that American Express will post 11.25 EPS for the current year.

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 10th. Investors of record on Friday, April 7th will be paid a dividend of $0.60 per share. This is an increase from American Express’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Wednesday, April 5th. This represents a $2.40 annualized dividend and a dividend yield of 1.45%. American Express’s dividend payout ratio is presently 21.14%.

American Express declared that its board has authorized a share buyback program on Wednesday, March 8th that authorizes the company to buyback 120,000,000 outstanding shares. This buyback authorization authorizes the payment services company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AXP shares. Citigroup upped their target price on shares of American Express from $128.00 to $133.00 and gave the stock a “sell” rating in a research report on Thursday, January 26th. Barclays upped their target price on shares of American Express from $158.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Monday, January 30th. Argus upped their target price on shares of American Express from $180.00 to $210.00 in a research report on Tuesday, January 31st. Piper Sandler upped their target price on shares of American Express from $159.00 to $179.00 and gave the stock a “neutral” rating in a research report on Monday, January 30th. Finally, Stephens lowered shares of American Express from an “equal weight” rating to an “underweight” rating and set a $134.00 target price on the stock. in a research report on Thursday, January 5th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, American Express has an average rating of “Hold” and an average target price of $175.44.

Insider Activity at American Express

In related news, insider Monique Herena sold 15,217 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $173.18, for a total transaction of $2,635,280.06. Following the transaction, the insider now owns 13,712 shares of the company’s stock, valued at $2,374,644.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other American Express news, insider Denise Pickett sold 28,688 shares of the stock in a transaction that occurred on Tuesday, February 14th. The shares were sold at an average price of $180.78, for a total transaction of $5,186,216.64. Following the transaction, the insider now owns 12,557 shares of the company’s stock, valued at $2,270,054.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Monique Herena sold 15,217 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $173.18, for a total transaction of $2,635,280.06. Following the transaction, the insider now directly owns 13,712 shares in the company, valued at approximately $2,374,644.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,361 shares of company stock valued at $8,773,678. Company insiders own 0.11% of the company’s stock.

About American Express

(Get Rating)

American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: U.S Consumer Services (USCS), Commercial Services (CS), International Card Services (ICS), Global Merchant and Network Services (GMNS), and Corporate and Other.

Featured Articles

Want to see what other hedge funds are holding AXP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Express (NYSE:AXP – Get Rating).

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

Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.