TCV Trust & Wealth Management Inc. Trims Stock Position in American Express (NYSE:AXP)

TCV Trust & Wealth Management Inc. cut its position in shares of American Express (NYSE:AXP) by 6.3% during the third quarter, Holdings Channel.com reports. The firm owned 1,481 shares of the payment services company’s stock after selling 100 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in American Express were worth $402,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. DHJJ Financial Advisors Ltd. raised its stake in American Express by 42.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock worth $38,000 after purchasing an additional 49 shares during the period. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of American Express during the third quarter valued at about $46,000. BNP Paribas acquired a new stake in shares of American Express during the first quarter valued at about $40,000. POM Investment Strategies LLC acquired a new stake in shares of American Express during the second quarter valued at about $42,000. Finally, Founders Capital Management acquired a new stake in shares of American Express during the second quarter valued at about $46,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American Express

In related news, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were 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 in the company, valued at $30,176,150.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.12% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AXP shares. Morgan Stanley lifted their price target on shares of American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. The Goldman Sachs Group lifted their price target on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Royal Bank of Canada lifted their price target on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $268.00 to $286.00 in a report on Monday, October 7th. Finally, Compass Point initiated coverage on shares of American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, American Express has a consensus rating of “Hold” and a consensus target price of $253.09.

American Express Stock Down 1.0 %

Shares of NYSE:AXP opened at $267.35 on Friday. The company has a market capitalization of $192.31 billion, a PE ratio of 22.02, a P/E/G ratio of 1.50 and a beta of 1.21. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a twelve month low of $141.02 and a twelve month high of $286.36. The firm has a 50 day simple moving average of $263.88 and a 200-day simple moving average of $245.57.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate 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 15.53% and a return on equity of 32.94%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.30 EPS. On average, equities analysts predict that American Express will post 13.14 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.05%. American Express’s dividend payout ratio (DPR) is 23.06%.

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.