TCTC Holdings LLC Lowers Stock Holdings in American Express (NYSE:AXP)

TCTC Holdings LLC lowered its holdings in American Express (NYSE:AXP) by 1.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,282 shares of the payment services company’s stock after selling 152 shares during the period. TCTC Holdings LLC’s holdings in American Express were worth $4,239,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Newbridge Financial Services Group Inc. purchased a new stake in American Express during the fourth quarter valued at about $832,000. World Investment Advisors LLC grew 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 acquiring an additional 3,867 shares during the period. Keybank National Association OH grew its position in American Express by 3.7% during 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 acquiring an additional 12,364 shares during the period. LVM Capital Management Ltd. MI grew its position in American Express by 3.1% during the fourth quarter. LVM Capital Management Ltd. MI now owns 86,344 shares of the payment services company’s stock valued at $25,626,000 after acquiring an additional 2,557 shares during the period. Finally, Edge Capital Group LLC lifted its stake in shares of American Express by 20.9% during the fourth quarter. Edge Capital Group LLC now owns 6,451 shares of the payment services company’s stock worth $1,915,000 after purchasing an additional 1,113 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Transactions at American Express

In other American Express news, Director Michael J. Angelakis bought 3,700 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were purchased at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the transaction, the director now directly owns 3,700 shares in the company, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. This represents a 38.88 % 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.

American Express Trading Up 3.7 %

Shares of NYSE AXP opened at $266.04 on Monday. The stock’s 50 day moving average price is $301.59 and its two-hundred day moving average price is $288.41. American Express has a 52-week low of $214.51 and a 52-week high of $326.27. The stock has a market capitalization of $186.90 billion, a P/E ratio of 18.99, a PEG ratio of 1.41 and a beta of 1.21. 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 announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping 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 earnings per share for the current fiscal year.

American Express Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.23%. 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 dividend payout ratio is presently 23.41%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. StockNews.com cut American Express from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. Monness Crespi & Hardt boosted their price objective on American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods boosted their price objective on American Express from $350.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, January 27th. Robert W. Baird upgraded American Express from an “underperform” rating to a “neutral” rating and set a $265.00 price objective on the stock in a research note on Friday. Finally, HSBC boosted their price target on American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $299.24.

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.