Troy Asset Management Ltd Sells 362,309 Shares of American Express (NYSE:AXP)

Troy Asset Management Ltd reduced its stake in shares of American Express (NYSE:AXP) by 44.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 458,534 shares of the payment services company’s stock after selling 362,309 shares during the period. American Express accounts for about 4.6% of Troy Asset Management Ltd’s holdings, making the stock its 5th biggest position. Troy Asset Management Ltd owned about 0.07% of American Express worth $136,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. True Wealth Design LLC lifted its position in shares of American Express by 332.0% in the third 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 in the last quarter. Sellwood Investment Partners LLC purchased a new position in American Express in the 4th quarter valued at about $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in shares of American Express during the 4th quarter worth about $33,000. Curio Wealth LLC purchased a new stake in shares of American Express during the fourth quarter worth about $37,000. Finally, Financial Life Planners acquired a new position in shares of American Express in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group lowered their target price 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. Robert W. Baird upgraded American Express from an “underperform” rating to a “neutral” rating and set a $265.00 target price for the company in a research note on Friday, March 14th. Wells Fargo & Company raised their price target on American Express from $355.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Finally, Compass Point cut their price objective on shares of American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $302.57.

American Express Stock Down 2.5 %

NYSE AXP opened at $265.16 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. American Express has a fifty-two week low of $214.51 and a fifty-two week high of $326.28. The business has a 50 day moving average price of $295.02 and a two-hundred day moving average price of $289.13. The stock has a market cap of $186.28 billion, a PE ratio of 18.93, a P/E/G ratio of 1.41 and a beta of 1.21.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share for the quarter, beating 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%. As a group, sell-side analysts predict that American Express will post 15.33 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 4th will be issued 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 1.24%. This is an increase from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is currently 23.41%.

Insider Buying and Selling at American Express

In other news, insider Ravikumar Radhakrishnan sold 9,485 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $319.17, for a total value of $3,027,327.45. Following the sale, the insider now owns 13,500 shares in the company, valued at approximately $4,308,795. This represents a 41.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Angelakis acquired 3,700 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of $269.89 per share, with a total value of $998,593.00. Following the completion of the acquisition, the director now owns 3,700 shares of the company’s stock, valued at $998,593. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.12% of the stock is owned by insiders.

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.