TIAA Trust National Association Cuts Stake in American Express (NYSE:AXP)

TIAA Trust National Association decreased its holdings in American Express (NYSE:AXP) by 5.7% in the fourth quarter, Holdings Channel reports. The firm owned 90,095 shares of the payment services company’s stock after selling 5,417 shares during the quarter. TIAA Trust National Association’s holdings in American Express were worth $26,739,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC raised its holdings in shares of American Express by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock valued at $636,000 after purchasing an additional 33 shares during the last quarter. Catalina Capital Group LLC increased its holdings in American Express by 1.0% during the fourth quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock valued at $996,000 after buying an additional 34 shares during the last quarter. Boston Financial Mangement LLC grew its position in shares of American Express by 0.9% during the 4th quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock valued at $1,189,000 after acquiring an additional 34 shares during the period. Auxier Asset Management lifted its position in American Express by 0.5% during the third quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock valued at $1,934,000 after purchasing an additional 35 shares in the last quarter. Finally, Abel Hall LLC lifted its position in shares of American Express by 3.6% during the 3rd quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock valued at $274,000 after buying an additional 35 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on AXP. Wells Fargo & Company lifted their price target on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of American Express from $301.00 to $307.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Bank of America reduced their target price on American Express from $326.00 to $325.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Keefe, Bruyette & Woods boosted their price target on shares of American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, January 27th. Finally, Monness Crespi & Hardt boosted their target price on shares of American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $302.57.

Insider Buying and Selling

In related news, insider Ravikumar Radhakrishnan sold 9,485 shares of American Express stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the completion of the sale, the insider now directly owns 13,500 shares in the company, valued at $4,308,795. This trade represents a 41.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Raymond Joabar sold 15,179 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total value of $4,765,295.26. Following the completion of the transaction, the insider now directly owns 23,866 shares in the company, valued at approximately $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. 0.12% of the stock is currently owned by company insiders.

American Express Trading Up 0.5 %

AXP opened at $279.23 on Wednesday. American Express has a 52 week low of $214.51 and a 52 week high of $326.28. The company has a market capitalization of $196.17 billion, a P/E ratio of 19.93, a PEG ratio of 1.41 and a beta of 1.21. The stock’s fifty day moving average is $297.50 and its two-hundred day moving average is $289.24. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last posted 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 forecast that American Express will post 15.33 earnings per share for the current year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a $0.82 dividend. This is a boost from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio (DPR) is currently 23.41%.

American Express 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.