Nomura Asset Management Co. Ltd. Buys 19,788 Shares of American Express (NYSE:AXP)

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Nomura Asset Management Co. Ltd. raised its stake in shares of American Express (NYSE:AXP) by 9.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,967 shares of the payment services company’s stock after acquiring an additional 19,788 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in American Express were worth $19,260,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Legal & General Group Plc lifted its stake in American Express by 1.2% during the 1st quarter. Legal & General Group Plc now owns 4,220,977 shares of the payment services company’s stock valued at $362,243,000 after acquiring an additional 51,848 shares in the last quarter. APG Asset Management N.V. lifted its stake in American Express by 877.6% during the 1st quarter. APG Asset Management N.V. now owns 3,103,833 shares of the payment services company’s stock valued at $302,132,000 after acquiring an additional 2,786,347 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in American Express by 9.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,681,642 shares of the payment services company’s stock valued at $914,455,000 after acquiring an additional 965,938 shares in the last quarter. HS Management Partners LLC increased its position in shares of American Express by 3.4% during the 1st quarter. HS Management Partners LLC now owns 1,534,600 shares of the payment services company’s stock valued at $131,377,000 after purchasing an additional 50,436 shares during the last quarter. Finally, Deutsche Bank AG increased its position in shares of American Express by 9.9% during the 1st quarter. Deutsche Bank AG now owns 4,305,616 shares of the payment services company’s stock valued at $368,604,000 after purchasing an additional 389,165 shares during the last quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.

Several equities research analysts have recently issued reports on AXP shares. BMO Capital Markets decreased their target price on American Express from $115.00 to $95.00 and set a “market perform” rating for the company in a research report on Monday, April 27th. Zacks Investment Research raised American Express from a “strong sell” rating to a “hold” rating and set a $101.00 target price for the company in a research report on Thursday, April 30th. Robert W. Baird raised American Express from a “neutral” rating to an “outperform” rating and set a $124.00 target price for the company in a research report on Monday, March 9th. DZ Bank raised American Express from a “hold” rating to a “buy” rating in a research report on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. raised American Express to a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $108.95.

AXP stock traded down $6.00 during mid-day trading on Thursday, reaching $100.16. 4,973,787 shares of the company traded hands, compared to its average volume of 6,457,498. The company has a debt-to-equity ratio of 2.50, a current ratio of 1.76 and a quick ratio of 1.76. The company has a market capitalization of $88.44 billion, a P/E ratio of 15.13, a P/E/G ratio of 2.27 and a beta of 1.12. American Express has a 52-week low of $67.00 and a 52-week high of $138.13. The company has a fifty day moving average price of $91.23 and a 200-day moving average price of $108.87.

American Express (NYSE:AXP) last posted its earnings results on Friday, April 24th. The payment services company reported $1.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.29. The business had revenue of $10.31 billion during the quarter, compared to analyst estimates of $10.67 billion. American Express had a return on equity of 30.21% and a net margin of 12.74%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.01 EPS. As a group, analysts forecast that American Express will post 4.64 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Stockholders of record on Thursday, July 2nd will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.72%. American Express’s dividend payout ratio (DPR) is presently 20.98%.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

Further Reading: Dead Cat Bounce

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

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