Teacher Retirement System of Texas decreased its stake in American Express (NYSE:AXP) by 19.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,949 shares of the payment services company’s stock after selling 40,981 shares during the period. Teacher Retirement System of Texas’ holdings in American Express were worth $15,573,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in AXP. Atria Investments LLC grew its holdings in shares of American Express by 31.9% in the 4th quarter. Atria Investments LLC now owns 13,366 shares of the payment services company’s stock valued at $1,327,000 after acquiring an additional 3,231 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of American Express by 1.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,693,862 shares of the payment services company’s stock valued at $267,528,000 after acquiring an additional 47,409 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of American Express by 359.9% in the 4th quarter. Acadian Asset Management LLC now owns 200,271 shares of the payment services company’s stock valued at $19,890,000 after acquiring an additional 156,729 shares in the last quarter. Oakbrook Investments LLC bought a new position in shares of American Express in the 4th quarter valued at about $452,000. Finally, Cibc Bank USA bought a new position in shares of American Express in the 4th quarter valued at about $201,000. Institutional investors own 85.03% of the company’s stock.
Shares of AXP stock opened at $100.99 on Friday. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market cap of $86.89 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 1.36 and a beta of 1.13. American Express has a 12-month low of $75.98 and a 12-month high of $102.96.
American Express (NYSE:AXP) last issued its quarterly earnings data on Wednesday, April 18th. The payment services company reported $1.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.15. The firm had revenue of $9.72 billion during the quarter, compared to the consensus estimate of $9.49 billion. American Express had a net margin of 8.79% and a return on equity of 28.41%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the business posted $1.34 earnings per share. sell-side analysts anticipate that American Express will post 7.23 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 10th. Shareholders of record on Friday, July 6th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, July 5th. This represents a $1.40 annualized dividend and a yield of 1.39%. American Express’s dividend payout ratio (DPR) is presently 23.85%.
In other American Express news, insider L Kevin Cox sold 2,975 shares of the firm’s stock in a transaction that occurred on Thursday, April 26th. The shares were sold at an average price of $99.50, for a total transaction of $296,012.50. Following the completion of the sale, the insider now directly owns 19,249 shares in the company, valued at $1,915,275.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $98.05, for a total transaction of $1,225,625.00. Following the sale, the insider now owns 203,920 shares of the company’s stock, valued at $19,994,356. The disclosure for this sale can be found here. Insiders have sold 58,252 shares of company stock valued at $5,800,027 over the last 90 days. Company insiders own 0.20% of the company’s stock.
Several brokerages have recently weighed in on AXP. TheStreet upgraded American Express from a “c+” rating to a “b+” rating in a report on Wednesday, April 18th. Barclays raised their price objective on American Express from $112.00 to $113.00 and gave the company an “equal weight” rating in a report on Thursday, April 19th. Guggenheim restated a “hold” rating and issued a $104.00 price objective on shares of American Express in a report on Thursday, April 19th. Royal Bank of Canada raised their price objective on American Express to $86.00 and gave the company an “underperform” rating in a report on Thursday, April 19th. Finally, Buckingham Research raised their price objective on American Express from $110.00 to $111.00 and gave the company a “neutral” rating in a report on Thursday, April 19th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $107.45.
American Express Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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