Thoroughbred Financial Services LLC Lowers Holdings in American Express (NYSE:AXP)

Thoroughbred Financial Services LLC reduced its holdings in shares of American Express (NYSE:AXP) by 1.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,368 shares of the payment services company’s stock after selling 99 shares during the period. Thoroughbred Financial Services LLC’s holdings in American Express were worth $2,186,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AXP. Opal Wealth Advisors LLC raised its stake in shares of American Express by 1.6% in the fourth quarter. Opal Wealth Advisors LLC now owns 2,142 shares of the payment services company’s stock valued at $636,000 after acquiring an additional 33 shares in the last quarter. Catalina Capital Group LLC raised its position in American Express by 1.0% in the 4th quarter. Catalina Capital Group LLC now owns 3,356 shares of the payment services company’s stock valued at $996,000 after purchasing an additional 34 shares in the last quarter. Boston Financial Mangement LLC boosted its stake in shares of American Express by 0.9% in the 4th quarter. Boston Financial Mangement LLC now owns 4,007 shares of the payment services company’s stock valued at $1,189,000 after buying an additional 34 shares during the period. Abel Hall LLC grew its position in shares of American Express by 3.6% during the third quarter. Abel Hall LLC now owns 1,011 shares of the payment services company’s stock worth $274,000 after buying an additional 35 shares in the last quarter. Finally, Sunflower Bank N.A. raised its holdings 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 valued at $1,203,000 after acquiring an additional 35 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Express

In related news, Director Michael J. Angelakis bought 3,700 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were bought at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the transaction, the director now owns 3,700 shares of the company’s stock, valued at approximately $998,593. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total transaction of $3,027,327.45. Following the completion of the transaction, the insider now owns 13,500 shares of the company’s stock, valued at $4,308,795. This represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on AXP shares. Baird R W raised shares of American Express from a “strong sell” rating to a “hold” rating in a research report on Friday, March 14th. The Goldman Sachs Group dropped their target price on American Express from $367.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, March 18th. Evercore ISI lifted their price target on American Express from $315.00 to $344.00 and gave the stock an “in-line” rating in a report on Monday, January 27th. JPMorgan Chase & Co. increased their price objective on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. Finally, Bank of America cut their price objective on shares of American Express from $326.00 to $325.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $302.24.

American Express Trading Down 5.8 %

NYSE:AXP opened at $233.50 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64. The stock’s 50 day simple moving average is $288.96 and its 200-day simple moving average is $289.28. American Express has a 12-month low of $214.51 and a 12-month high of $326.28. The firm has a market cap of $164.04 billion, a P/E ratio of 16.67, a PEG ratio of 1.41 and a beta of 1.16.

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

American Express Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $3.28 dividend on an annualized basis and a yield of 1.40%. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio (DPR) is presently 23.41%.

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.