Teacher Retirement System of Texas Boosts Stock Position in American Express (NYSE:AXP)

Teacher Retirement System of Texas raised its stake in American Express (NYSE:AXP) by 19.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 328,870 shares of the payment services company’s stock after purchasing an additional 54,348 shares during the period. Teacher Retirement System of Texas’ holdings in American Express were worth $97,605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC boosted its holdings in American Express by 1.6% in the fourth quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock worth $636,000 after acquiring an additional 33 shares in the last quarter. Catalina Capital Group LLC boosted its holdings in American Express by 1.0% in the fourth quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock worth $996,000 after acquiring an additional 34 shares in the last quarter. Boston Financial Mangement LLC boosted its holdings in American Express by 0.9% in the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock worth $1,189,000 after acquiring an additional 34 shares in the last quarter. Auxier Asset Management boosted its holdings in American Express by 0.5% in the third quarter. Auxier Asset Management now owns 7,133 shares of the payment services company’s stock worth $1,934,000 after acquiring an additional 35 shares in the last quarter. Finally, Abel Hall LLC boosted its holdings in American Express by 3.6% in the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after acquiring an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Up 3.0 %

American Express stock opened at $270.66 on Thursday. The stock has a market capitalization of $190.15 billion, a PE ratio of 19.32, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. American Express has a 12 month low of $214.51 and a 12 month high of $326.28. The business has a 50 day simple moving average of $299.41 and a 200-day simple moving average of $288.35. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. On average, analysts anticipate that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.21%. This is a boost from American Express’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. American Express’s payout ratio is presently 23.41%.

Analyst Ratings Changes

Several equities research analysts have weighed in on AXP shares. William Blair reissued an “outperform” rating on shares of American Express in a report on Monday, January 27th. BTIG Research raised their price target on American Express from $266.00 to $270.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Evercore ISI lifted their target price on American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. Compass Point decreased their target price on American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, Wells Fargo & Company lifted their target price on American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $303.52.

Insider Buying and Selling

In related news, insider Raymond Joabar sold 15,179 shares of the business’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 completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Angelakis purchased 3,700 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average price of $269.89 per share, with a total value of $998,593.00. Following the completion of the transaction, the director now directly owns 3,700 shares of the company’s stock, valued at $998,593. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.12% of the stock is owned by company insiders.

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.