Mitsubishi UFJ Asset Management UK Ltd. Makes New Investment in American Express (NYSE:AXP)

Mitsubishi UFJ Asset Management UK Ltd. acquired a new position in American Express (NYSE:AXP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,000 shares of the payment services company’s stock, valued at approximately $2,671,000. American Express makes up about 1.2% of Mitsubishi UFJ Asset Management UK Ltd.’s investment portfolio, making the stock its 24th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new stake in American Express in the 3rd quarter worth about $27,000. Kennebec Savings Bank purchased a new position in American Express in the third quarter valued at about $29,000. True Wealth Design LLC boosted its stake in American Express by 332.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 83 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in American Express in the third quarter valued at about $38,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in American Express in the third quarter valued at about $46,000. 84.33% of the stock is owned by institutional investors.

Insider Activity at American Express

In other news, CFO Caillec Christophe Le sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the sale, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at approximately $1,952,286.84. This trade represents a 48.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This represents a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Compass Point boosted their target price on shares of American Express from $315.00 to $325.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. BTIG Research cut shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price on the stock. in a research note on Tuesday, October 8th. Truist Financial began coverage on shares of American Express in a research note on Tuesday, January 7th. They set a “buy” rating and a $350.00 price target on the stock. HSBC cut shares of American Express from a “buy” rating to a “hold” rating and upped their price target for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $278.09.

American Express Price Performance

AXP stock opened at $318.07 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. American Express has a 52 week low of $184.06 and a 52 week high of $319.70. The firm’s fifty day moving average is $299.65 and its 200 day moving average is $272.78. The firm has a market cap of $224.07 billion, a P/E ratio of 23.40, a P/E/G ratio of 1.47 and a beta of 1.23.

American Express Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Friday, January 3rd. American Express’s dividend payout ratio is currently 20.60%.

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.