TIAA Trust National Association Sells 5,417 Shares of American Express (NYSE:AXP)

TIAA Trust National Association cut its position in American Express (NYSE:AXP) by 5.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 and hedge funds also recently made changes to their positions in the company. Eagle Asset Management Inc. grew its holdings in shares of American Express by 30.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 7,049 shares of the payment services company’s stock valued at $2,027,000 after purchasing an additional 1,651 shares during the last quarter. Great Valley Advisor Group Inc. raised its position in American Express by 6.9% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 3,003 shares of the payment services company’s stock worth $815,000 after purchasing an additional 194 shares during the last quarter. Centaurus Financial Inc. grew its position in shares of American Express by 7.9% in the 3rd quarter. Centaurus Financial Inc. now owns 1,318 shares of the payment services company’s stock valued at $358,000 after buying an additional 97 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in American Express by 3.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 4,824 shares of the payment services company’s stock valued at $1,308,000 after acquiring an additional 179 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in American Express by 17.8% during the 3rd quarter. Private Trust Co. NA now owns 6,652 shares of the payment services company’s stock worth $1,804,000 after purchasing an additional 1,007 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

American Express Stock Up 0.5 %

AXP stock opened at $279.23 on Wednesday. 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 1-year low of $214.51 and a 1-year high of $326.28. The stock has a market cap of $196.17 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.41 and a beta of 1.21. The company’s 50 day moving average is $297.50 and its 200 day moving average is $289.24.

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

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be paid a $0.82 dividend. 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. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.17%. American Express’s dividend payout ratio is 23.41%.

Wall Street Analyst Weigh In

AXP has been the subject of a number of recent analyst reports. Baird R W upgraded American Express from a “strong sell” rating to a “hold” rating in a report on Friday, March 14th. Truist Financial initiated coverage on American Express in a research note on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price objective for the company. Argus downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Friday, March 14th. Keefe, Bruyette & Woods lifted their price target on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, January 27th. Finally, UBS Group increased their price target on American Express from $283.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, American Express currently has an average rating of “Hold” and an average price target of $302.57.

Insider Activity

In other news, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This trade represents a 38.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the transaction, the insider now directly owns 13,500 shares of the company’s stock, valued at approximately $4,308,795. The trade was a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

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.