Torray Investment Partners LLC Sells 7,963 Shares of American Express (NYSE:AXP)

Torray Investment Partners LLC decreased its stake in American Express (NYSE:AXP - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,287 shares of the payment services company's stock after selling 7,963 shares during the quarter. American Express makes up about 2.5% of Torray Investment Partners LLC's holdings, making the stock its 10th biggest position. Torray Investment Partners LLC's holdings in American Express were worth $17,299,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Prospera Private Wealth LLC purchased a new position in American Express in the third quarter valued at about $27,000. Kennebec Savings Bank acquired a new stake in shares of American Express during the 3rd quarter valued at about $29,000. True Wealth Design LLC grew its stake in shares of American Express by 332.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the payment services company's stock valued at $29,000 after buying an additional 83 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in American Express in the third quarter worth approximately $38,000. Finally, Financial Life Planners acquired a new position in American Express in the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 84.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on AXP shares. HSBC boosted their target price on shares of American Express from $270.00 to $294.00 and gave the stock a "hold" rating in a research report on Friday, January 24th. Monness Crespi & Hardt increased their target price on shares of American Express from $330.00 to $355.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Morgan Stanley boosted their price target on American Express from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research report on Monday, January 27th. Compass Point lowered their price objective on American Express from $325.00 to $309.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Finally, Evercore ISI boosted their target price on American Express from $315.00 to $344.00 and gave the stock an "in-line" rating in a report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $296.38.

American Express Price Performance

AXP traded up $0.73 during midday trading on Wednesday, hitting $284.20. The company had a trading volume of 2,490,503 shares, compared to its average volume of 2,534,249. American Express has a twelve month low of $214.51 and a twelve month high of $326.27. The firm's 50-day simple moving average is $306.96 and its 200-day simple moving average is $287.61. The company has a market capitalization of $199.66 billion, a PE ratio of 20.29, a P/E/G ratio of 1.41 and a beta of 1.24. 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 (NYSE:AXP - Get Free Report) last released its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, topping analysts' consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Equities research analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, April 4th. This is a boost from American Express's previous quarterly dividend of $0.70. This represents a $3.28 dividend on an annualized basis and a yield of 1.15%. American Express's dividend payout ratio (DPR) is presently 19.99%.

Insider Buying and Selling at American Express

In related news, insider Raymond Joabar sold 15,179 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. The trade was a 38.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the sale, the insider now owns 13,500 shares in the company, valued at approximately $4,308,795. This trade represents a 41.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company's stock.

American Express Company 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.