TIAA Trust National Association Sells 5,417 Shares of American Express (NYSE:AXP)

TIAA Trust National Association reduced its holdings in American Express (NYSE:AXP - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 90,095 shares of the payment services company's stock after selling 5,417 shares during the quarter. TIAA Trust National Association's holdings in American Express were worth $26,739,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. True Wealth Design LLC lifted its position in shares of American Express by 332.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company's stock valued at $29,000 after acquiring an additional 83 shares during the period. Curio Wealth LLC bought a new stake in American Express in the fourth quarter valued at $37,000. Itau Unibanco Holding S.A. acquired a new position in shares of American Express during the third quarter valued at about $38,000. Financial Life Planners bought a new position in shares of American Express during the 4th quarter worth about $38,000. Finally, Sierra Ocean LLC acquired a new stake in shares of American Express in the 4th quarter valued at about $40,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

American Express stock traded down $6.86 during mid-day trading on Friday, reaching $265.16. The company's stock had a trading volume of 3,259,399 shares, compared to its average volume of 2,821,861. The firm's fifty day moving average price is $295.97 and its two-hundred day moving average price is $289.03. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58. American Express has a 12-month low of $214.51 and a 12-month high of $326.27. The company has a market capitalization of $186.28 billion, a P/E ratio of 18.93, a PEG ratio of 1.41 and a beta of 1.21.

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American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Sell-side analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 4th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.24%. This is an increase from American Express's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, April 4th. American Express's dividend payout ratio is presently 23.41%.

Insider Activity at American Express

In other American Express news, insider Raymond Joabar sold 15,179 shares of the firm's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total value of $4,765,295.26. Following the sale, the insider now owns 23,866 shares of the company's stock, valued at $7,492,492.04. This trade represents a 38.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael J. Angelakis acquired 3,700 shares of the business's stock in a transaction dated Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, with a total value of $998,593.00. Following the acquisition, the director now directly owns 3,700 shares of the company's stock, valued at $998,593. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AXP has been the topic of several recent research reports. Bank of America cut their price target on American Express from $326.00 to $325.00 and set a "neutral" rating on the stock in a report on Tuesday, March 18th. Citigroup reduced their price target on shares of American Express from $320.00 to $300.00 and set a "neutral" rating for the company in a research report on Monday. The Goldman Sachs Group decreased their price target on shares of American Express from $367.00 to $330.00 and set a "buy" rating for the company in a research note on Tuesday, March 18th. Monness Crespi & Hardt raised their price objective on shares of American Express from $330.00 to $355.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada boosted their target price on shares of American Express from $330.00 to $350.00 and gave the stock an "outperform" rating in a research report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, American Express has a consensus rating of "Hold" and a consensus target price of $302.57.

About American Express

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.