American Express Company $AXP Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its position in shares of American Express Company (NYSE:AXP) by 28.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,569 shares of the payment services company’s stock after selling 59,818 shares during the quarter. Teacher Retirement System of Texas’ holdings in American Express were worth $50,345,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gratus Wealth Advisors LLC grew its holdings in shares of American Express by 0.8% in the third quarter. Gratus Wealth Advisors LLC now owns 3,712 shares of the payment services company’s stock valued at $1,233,000 after purchasing an additional 28 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its position in shares of American Express by 1.0% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 2,910 shares of the payment services company’s stock worth $967,000 after acquiring an additional 29 shares during the period. Walkner Condon Financial Advisors LLC raised its stake in shares of American Express by 2.1% in the third quarter. Walkner Condon Financial Advisors LLC now owns 1,378 shares of the payment services company’s stock valued at $458,000 after acquiring an additional 29 shares in the last quarter. Sandy Cove Advisors LLC grew its stake in American Express by 2.1% during the 3rd quarter. Sandy Cove Advisors LLC now owns 1,462 shares of the payment services company’s stock worth $485,000 after purchasing an additional 30 shares in the last quarter. Finally, Bath Savings Trust Co increased its holdings in American Express by 1.1% during the 3rd quarter. Bath Savings Trust Co now owns 2,922 shares of the payment services company’s stock worth $971,000 after purchasing an additional 31 shares during the period. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Performance

Shares of AXP stock opened at $367.92 on Friday. The stock’s 50-day moving average is $367.95 and its two-hundred day moving average is $342.03. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61. American Express Company has a 1 year low of $220.43 and a 1 year high of $387.49. The firm has a market cap of $253.44 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 1.51 and a beta of 1.15.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($15.41). The firm had revenue of ($17,139.00) million during the quarter, compared to analyst estimates of $18.91 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. Analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Friday, January 2nd will be given a $0.82 dividend. The ex-dividend date is Friday, January 2nd. This represents a $3.28 annualized dividend and a yield of 0.9%. American Express’s dividend payout ratio is 22.01%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wolfe Research assumed coverage on American Express in a research report on Monday, December 8th. They set a “peer perform” rating for the company. Evercore ISI set a $400.00 price objective on shares of American Express in a report on Tuesday, January 6th. Weiss Ratings upgraded shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Compass Point reissued a “neutral” rating and issued a $324.00 target price on shares of American Express in a report on Monday, October 20th. Finally, Keefe, Bruyette & Woods lifted their price target on American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Nine analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $353.95.

Insiders Place Their Bets

In other American Express news, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the transaction, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. This trade represents a 36.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.

American Express Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.