TD Asset Management Inc. Sells 42,601 Shares of American Express (NYSE:AXP)

TD Asset Management Inc. lessened its holdings in shares of American Express (NYSE:AXP) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,299,819 shares of the payment services company’s stock after selling 42,601 shares during the period. TD Asset Management Inc. owned approximately 0.33% of American Express worth $682,563,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AXP. Proficio Capital Partners LLC lifted its stake in American Express by 36,719.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock valued at $300,289,000 after buying an additional 1,009,042 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of American Express during the fourth quarter worth $292,081,000. FMR LLC lifted its position in American Express by 8.5% in the 3rd quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock valued at $2,984,208,000 after acquiring an additional 866,110 shares in the last quarter. World Investment Advisors LLC boosted its stake in American Express by 35,213.7% in the 3rd quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock worth $86,002,000 after purchasing an additional 316,219 shares during the period. Finally, National Bank of Canada FI boosted its stake in American Express by 73.7% in the 3rd quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock worth $191,842,000 after purchasing an additional 300,138 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on AXP shares. HSBC boosted their price target on American Express from $270.00 to $294.00 and gave the company a “hold” rating in a report on Friday, January 24th. Evercore ISI boosted their target price on American Express from $315.00 to $344.00 and gave the company an “in-line” rating in a research note on Monday, January 27th. UBS Group upped their price target on American Express from $283.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Wells Fargo & Company lifted their price objective on shares of American Express from $355.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Compass Point reduced their target price on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Two equities research 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’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $302.57.

Insider Transactions at American Express

In other American Express news, Director Michael J. Angelakis purchased 3,700 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the purchase, the director now owns 3,700 shares of the company’s stock, valued at approximately $998,593. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Raymond Joabar sold 15,179 shares of American Express stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the completion of 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 disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

American Express Trading Up 2.8 %

Shares of American Express stock opened at $277.98 on Tuesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The business has a fifty day simple moving average of $297.92 and a two-hundred day simple moving average of $288.99. American Express has a 1 year low of $214.51 and a 1 year high of $326.28. The company has a market capitalization of $195.29 billion, a price-to-earnings ratio of 19.84, a P/E/G ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last posted its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.04. American Express had a net margin of 15.36% and a return on equity of 32.65%. Research analysts forecast 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. Stockholders of record on Friday, April 4th will be given 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 annualized dividend and a dividend yield of 1.18%. American Express’s dividend payout ratio is presently 23.41%.

American Express 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.