Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Lowers Stock Position in American Express (NYSE:AXP)

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Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its stake in shares of American Express (NYSE:AXP) by 10.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 262,661 shares of the payment services company’s stock after selling 31,681 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in American Express were worth $32,423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AXP. FMR LLC lifted its holdings in shares of American Express by 6.9% during the 1st quarter. FMR LLC now owns 26,274,516 shares of the payment services company’s stock valued at $2,871,804,000 after acquiring an additional 1,690,676 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of American Express by 3.5% during the 2nd quarter. Fisher Asset Management LLC now owns 11,352,692 shares of the payment services company’s stock valued at $1,401,376,000 after acquiring an additional 381,084 shares in the last quarter. Egerton Capital UK LLP lifted its holdings in shares of American Express by 18.4% during the 1st quarter. Egerton Capital UK LLP now owns 9,368,737 shares of the payment services company’s stock valued at $1,024,003,000 after acquiring an additional 1,452,890 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of American Express by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 8,486,121 shares of the payment services company’s stock valued at $807,358,000 after acquiring an additional 459,983 shares in the last quarter. Finally, Veritas Asset Management LLP lifted its holdings in shares of American Express by 0.5% during the 1st quarter. Veritas Asset Management LLP now owns 6,551,519 shares of the payment services company’s stock valued at $716,081,000 after acquiring an additional 29,563 shares in the last quarter. 83.96% of the stock is owned by institutional investors.

Shares of American Express stock traded down $0.69 during trading on Tuesday, reaching $117.84. The company had a trading volume of 269,457 shares, compared to its average volume of 3,307,562. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.84 and a current ratio of 1.84. American Express has a fifty-two week low of $89.05 and a fifty-two week high of $129.34. The firm’s fifty day moving average is $124.84 and its 200-day moving average is $117.32. The company has a market cap of $97.70 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.32 and a beta of 1.05.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.02. American Express had a net margin of 16.60% and a return on equity of 29.75%. The business had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.82 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, research analysts anticipate that American Express will post 8.14 EPS for the current fiscal year.

In related news, insider Paul D. Fabara sold 15,455 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $127.06, for a total transaction of $1,963,712.30. Following the completion of the sale, the insider now owns 35,931 shares of the company’s stock, valued at approximately $4,565,392.86. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jeffrey C. Campbell sold 6,500 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $122.93, for a total transaction of $799,045.00. Following the sale, the chief financial officer now directly owns 68,379 shares of the company’s stock, valued at approximately $8,405,830.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,000 shares of company stock valued at $5,363,098. Insiders own 0.21% of the company’s stock.

AXP has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price objective on shares of American Express to $119.00 and gave the stock a “market perform” rating in a report on Monday, July 22nd. Stephens set a $131.00 price objective on shares of American Express and gave the stock a “buy” rating in a report on Monday, May 20th. Deutsche Bank initiated coverage on shares of American Express in a report on Monday, July 8th. They issued a “buy” rating and a $142.00 price objective on the stock. Jefferies Financial Group set a $130.00 price objective on shares of American Express and gave the stock a “hold” rating in a report on Friday, July 19th. Finally, Wells Fargo & Co boosted their price objective on shares of American Express from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. American Express currently has a consensus rating of “Hold” and a consensus price target of $124.49.

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.

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

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