American Express (NYSE:AXP) Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC reduced its stake in shares of American Express (NYSE:AXP) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,368 shares of the payment services company’s stock after selling 99 shares during the period. Thoroughbred Financial Services LLC’s holdings in American Express were worth $2,186,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. acquired a new stake in American Express during the 4th quarter valued at approximately $832,000. World Investment Advisors LLC lifted its position in American Express by 430.6% during the third quarter. World Investment Advisors LLC now owns 4,765 shares of the payment services company’s stock valued at $1,292,000 after purchasing an additional 3,867 shares during the period. Keybank National Association OH boosted its holdings in American Express by 3.7% in the fourth quarter. Keybank National Association OH now owns 349,937 shares of the payment services company’s stock valued at $103,858,000 after purchasing an additional 12,364 shares during the last quarter. LVM Capital Management Ltd. MI grew its position in American Express by 3.1% during the 4th quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock worth $25,626,000 after purchasing an additional 2,557 shares during the period. Finally, Edge Capital Group LLC raised its stake in shares of American Express by 20.9% during the 4th quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock valued at $1,915,000 after buying an additional 1,113 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Express

In other American Express news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 13,500 shares of the company’s stock, valued at $4,308,795. This represents a 41.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael J. Angelakis purchased 3,700 shares of American Express stock in a transaction dated Friday, March 7th. The stock was bought at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the purchase, the director now directly owns 3,700 shares in the company, valued at approximately $998,593. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.20% of the stock is currently owned by company insiders.

American Express Stock Down 5.8 %

Shares of NYSE AXP opened at $233.50 on Friday. The stock has a market cap of $164.04 billion, a PE ratio of 16.67, a P/E/G ratio of 1.41 and a beta of 1.16. 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 has a 12-month low of $214.51 and a 12-month high of $326.28. The company has a 50-day moving average of $288.96 and a 200 day moving average of $289.28.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (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%. As a group, sell-side analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The company also recently disclosed 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 is a boost from American Express’s previous quarterly dividend of $0.70. This represents a $3.28 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, April 4th. American Express’s dividend payout ratio (DPR) is presently 23.41%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. The Goldman Sachs Group dropped their target price on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Citigroup cut their target price on shares of American Express from $320.00 to $300.00 and set a “neutral” rating for the company in a report on Monday, March 24th. William Blair restated 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 stock a “buy” rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada raised their target price on American Express from $330.00 to $350.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $302.24.

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.