American Express (NYSE:AXP) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in American Express (NYSE:AXP) by 2.4% in the 4th quarter, Holdings Channel reports. The firm owned 327,864 shares of the payment services company’s stock after buying an additional 7,676 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in American Express were worth $97,307,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Simplicity Wealth LLC increased its holdings in American Express by 10.1% in the 4th quarter. Simplicity Wealth LLC now owns 1,543 shares of the payment services company’s stock valued at $458,000 after purchasing an additional 142 shares in the last quarter. Taika Capital LP acquired a new stake in American Express in the 4th quarter valued at $377,000. SLT Holdings LLC acquired a new stake in American Express in the 4th quarter valued at $228,000. Enterprise Financial Services Corp increased its holdings in American Express by 2.3% in the 4th quarter. Enterprise Financial Services Corp now owns 2,149 shares of the payment services company’s stock valued at $638,000 after purchasing an additional 49 shares in the last quarter. Finally, Argentarii LLC acquired a new stake in American Express in the 4th quarter valued at $1,396,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at American Express

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the sale, the insider now owns 23,866 shares of the company’s stock, valued at $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

American Express Price Performance

Shares of NYSE:AXP opened at $273.13 on Monday. The firm’s 50 day moving average is $305.44 and its two-hundred day moving average is $288.17. American Express has a 52 week low of $214.51 and a 52 week high of $326.27. The firm has a market capitalization of $191.88 billion, a P/E ratio of 19.50, a PEG ratio of 1.41 and a beta of 1.21. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. Analysts anticipate that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Friday, April 4th. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is currently 23.41%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AXP shares. Compass Point decreased their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Morgan Stanley upped their price objective on shares of American Express from $305.00 to $310.00 and gave the company an “equal weight” rating in a research report on Monday, January 27th. William Blair reissued an “outperform” rating on shares of American Express in a research report on Monday, January 27th. Monness Crespi & Hardt upped their price objective on shares of American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. upped their price objective 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. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $296.38.

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.