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

Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in shares of American Express (NYSE:AXP) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 9,000 shares of the payment services company’s stock, valued at approximately $2,671,000. American Express accounts for approximately 1.2% of Mitsubishi UFJ Asset Management UK Ltd.’s portfolio, making the stock its 24th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of American Express by 26,783.5% in the third quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock worth $2,467,210,000 after acquiring an additional 906,353 shares during the period. FMR LLC grew its stake in shares of American Express by 8.5% in the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after acquiring an additional 866,110 shares during the period. Pathway Financial Advisers LLC grew its stake in shares of American Express by 59,816.0% in the third quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock worth $185,079,000 after acquiring an additional 681,304 shares during the period. World Investment Advisors LLC grew its stake in shares of American Express by 35,213.7% in the third quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock worth $86,002,000 after acquiring an additional 316,219 shares during the period. Finally, National Bank of Canada FI grew its stake in shares of American Express by 73.7% in the third quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock worth $191,842,000 after acquiring an additional 300,138 shares during the period. 84.33% of the stock is currently owned by institutional investors.

American Express Price Performance

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

American Express Dividend Announcement

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

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of research analyst reports. StockNews.com upgraded shares of American Express from a “hold” rating to a “buy” rating in a research note on Saturday, January 11th. Monness Crespi & Hardt boosted their target price on shares of American Express from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. boosted their target price on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their target price on shares of American Express from $325.00 to $350.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company boosted their target price on shares of American Express from $300.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $278.09.

Insider Activity at American Express

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

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.