Bank of Montreal Can Acquires 684,575 Shares of American Express Company (AXP)

Bank of Montreal Can increased its holdings in shares of American Express Company (NYSE:AXP) by 38.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,484,470 shares of the payment services company’s stock after buying an additional 684,575 shares during the quarter. Bank of Montreal Can’s holdings in American Express were worth $246,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the stock. Oliver Luxxe Assets LLC acquired a new stake in American Express during the 4th quarter worth $228,000. Pennsylvania Trust Co boosted its stake in American Express by 1.2% during the 4th quarter. Pennsylvania Trust Co now owns 90,450 shares of the payment services company’s stock worth $8,990,000 after purchasing an additional 1,113 shares during the period. Atria Investments LLC boosted its stake in American Express by 31.9% during the 4th quarter. Atria Investments LLC now owns 13,366 shares of the payment services company’s stock worth $1,327,000 after purchasing an additional 3,231 shares during the period. Hexavest Inc. lifted its stake in shares of American Express by 3.8% in the 4th quarter. Hexavest Inc. now owns 870,775 shares of the payment services company’s stock worth $86,477,000 after acquiring an additional 31,707 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of American Express by 2.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 364,793 shares of the payment services company’s stock worth $36,226,000 after acquiring an additional 8,311 shares during the period. Hedge funds and other institutional investors own 83.36% of the company’s stock.

Shares of American Express Company (NYSE:AXP) traded down $0.64 during midday trading on Tuesday, hitting $100.34. 3,810,000 shares of the company traded hands, compared to its average volume of 3,160,000. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90. American Express Company has a 12-month low of $75.39 and a 12-month high of $102.39. The firm has a market capitalization of $87,090.00, a PE ratio of 19.37, a price-to-earnings-growth ratio of 1.46 and a beta of 1.22.

American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The firm had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same quarter last year, the business earned $1.24 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. research analysts forecast that American Express Company will post 5.85 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Thursday, January 4th. American Express’s dividend payout ratio (DPR) is 27.03%.

In related news, EVP Linda Zukauckas sold 3,196 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $95.42, for a total value of $304,962.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anre D. Williams sold 30,761 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the completion of the sale, the insider now owns 28,720 shares of the company’s stock, valued at approximately $2,682,735.20. The disclosure for this sale can be found here. Insiders sold 442,869 shares of company stock valued at $42,823,869 in the last quarter. Company insiders own 0.67% of the company’s stock.

AXP has been the subject of several recent analyst reports. Bank of America set a $128.00 target price on shares of American Express and gave the stock a “buy” rating in a research note on Monday, December 18th. Credit Suisse Group restated a “sell” rating and issued a $79.00 target price on shares of American Express in a research note on Wednesday, October 4th. Atlantic Securities upgraded shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 target price for the company in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $116.00 target price on shares of American Express in a research note on Friday, December 22nd. Finally, Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research note on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $98.96.

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American Express Company Profile

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

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

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