Teachers Retirement System of The State of Kentucky grew its position in American Express (NYSE:AXP - Free Report) by 42.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 266,570 shares of the payment services company's stock after purchasing an additional 79,566 shares during the quarter. American Express comprises approximately 0.7% of Teachers Retirement System of The State of Kentucky's investment portfolio, making the stock its 15th biggest position. Teachers Retirement System of The State of Kentucky's holdings in American Express were worth $79,115,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in AXP. Opal Wealth Advisors LLC raised its position in American Express by 1.6% during the 4th quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company's stock valued at $636,000 after purchasing an additional 33 shares during the last quarter. Catalina Capital Group LLC increased its stake in shares of American Express by 1.0% during the fourth quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company's stock valued at $996,000 after buying an additional 34 shares during the period. Boston Financial Mangement LLC raised its holdings in shares of American Express by 0.9% during the fourth quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company's stock valued at $1,189,000 after acquiring an additional 34 shares in the last quarter. Sunflower Bank N.A. lifted its stake in American Express by 0.9% in the fourth quarter. Sunflower Bank N.A. now owns 4,054 shares of the payment services company's stock worth $1,203,000 after acquiring an additional 35 shares during the period. Finally, Foster & Motley Inc. boosted its holdings in American Express by 2.1% in the fourth quarter. Foster & Motley Inc. now owns 1,716 shares of the payment services company's stock valued at $509,000 after acquiring an additional 35 shares in the last quarter. Institutional investors own 84.33% of the company's stock.
Insiders Place Their Bets
In other news, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the transaction, the insider now owns 23,866 shares in the company, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael J. Angelakis acquired 3,700 shares of American Express stock in a transaction dated Friday, March 7th. The stock was bought at an average price of $269.89 per share, with a total value of $998,593.00. Following the completion of the purchase, the director now directly owns 3,700 shares in the company, valued at $998,593. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.20% of the company's stock.
American Express Stock Performance
AXP traded up $7.83 during midday trading on Wednesday, hitting $260.25. 3,871,549 shares of the company traded hands, compared to its average volume of 2,859,005. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The company's 50-day moving average is $269.48 and its 200 day moving average is $287.18. American Express has a 52 week low of $220.43 and a 52 week high of $326.28. The firm has a market capitalization of $182.83 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.41 and a beta of 1.16.
American Express (NYSE:AXP - Get Free Report) last posted its earnings results on Thursday, April 17th. The payment services company reported $3.64 EPS for the quarter, topping analysts' consensus estimates of $3.47 by $0.17. The business had revenue of $16.97 billion during the quarter, compared to the consensus estimate of $17.04 billion. American Express had a net margin of 15.36% and a return on equity of 32.65%. During the same quarter in the previous year, the firm posted $3.33 EPS. On average, research analysts expect that American Express will post 15.33 EPS for the current year.
American Express Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be issued a $0.82 dividend. This is an increase from American Express's previous quarterly dividend of $0.70. The ex-dividend date is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a yield of 1.26%. American Express's dividend payout ratio is currently 22.91%.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Truist Financial lowered their price objective on shares of American Express from $340.00 to $315.00 and set a "buy" rating for the company in a report on Tuesday. Wells Fargo & Company raised their target price on American Express from $355.00 to $370.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of American Express in a research note on Monday. Robert W. Baird upgraded American Express from an "underperform" rating to a "neutral" rating and set a $265.00 price objective for the company in a report on Friday, March 14th. Finally, Monness Crespi & Hardt boosted their target price on shares of American Express from $275.00 to $285.00 and gave the company a "buy" rating in a report on Monday. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $295.05.
Check Out Our Latest Research Report on American Express
American Express Company Profile
(
Free Report)
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.
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