TCTC Holdings LLC Boosts Holdings in American Express (NYSE:AXP)

TCTC Holdings LLC boosted its stake in American Express (NYSE:AXP) by 0.4% in the third quarter, Holdings Channel.com reports. The fund owned 14,434 shares of the payment services company’s stock after buying an additional 64 shares during the quarter. TCTC Holdings LLC’s holdings in American Express were worth $3,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Sovereign Financial Group Inc. boosted its position in shares of American Express by 2.7% in the 3rd quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock valued at $398,000 after purchasing an additional 38 shares during the period. Legacy Financial Strategies LLC lifted its stake in American Express by 2.5% in the third quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock valued at $443,000 after buying an additional 40 shares during the last quarter. Concord Wealth Partners boosted its holdings in shares of American Express by 10.5% in the third quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock valued at $114,000 after acquiring an additional 40 shares during the period. Sawgrass Asset Management LLC grew its position in shares of American Express by 0.4% during the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after acquiring an additional 41 shares during the last quarter. Finally, Godsey & Gibb Inc. increased its holdings in shares of American Express by 3.5% in the 3rd quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock valued at $333,000 after acquiring an additional 41 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Analyst Ratings Changes

AXP has been the subject of a number of recent research reports. HSBC cut shares of American Express from a “buy” rating to a “hold” rating and increased their price target for the stock from $265.00 to $270.00 in a research note on Tuesday, October 8th. TD Cowen increased their target price on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Morgan Stanley boosted their price target on American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Compass Point assumed coverage on American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective for the company. Finally, Hsbc Global Res downgraded American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $253.09.

Insider Activity at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the sale, the insider now owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the transaction, the insider now directly owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.11% of the stock is owned by insiders.

American Express Trading Up 0.3 %

American Express stock opened at $287.60 on Friday. The stock has a 50-day moving average price of $268.64 and a 200 day moving average price of $249.32. American Express has a 52 week low of $152.05 and a 52 week high of $296.83. The stock has a market cap of $202.60 billion, a PE ratio of 21.16, a P/E/G ratio of 1.47 and a beta of 1.21. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.32% and a return on equity of 32.46%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.30 earnings per share. Equities research analysts predict that American Express will post 13.4 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 0.97%. American Express’s dividend payout ratio is presently 20.60%.

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.