Toroso Investments LLC Reduces Holdings in American Express (NYSE:AXP)

Toroso Investments LLC decreased its holdings in American Express (NYSE:AXP) by 71.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,964 shares of the payment services company’s stock after selling 19,709 shares during the quarter. Toroso Investments LLC’s holdings in American Express were worth $1,074,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Orion Portfolio Solutions LLC boosted its holdings in shares of American Express by 1.2% in the first quarter. Orion Portfolio Solutions LLC now owns 5,566 shares of the payment services company’s stock worth $1,041,000 after buying an additional 65 shares during the last quarter. Frontier Wealth Management LLC boosted its holdings in shares of American Express by 0.5% in the first quarter. Frontier Wealth Management LLC now owns 13,355 shares of the payment services company’s stock worth $2,344,000 after buying an additional 68 shares during the last quarter. Forum Financial Management LP boosted its holdings in shares of American Express by 1.3% in the third quarter. Forum Financial Management LP now owns 5,485 shares of the payment services company’s stock worth $740,000 after buying an additional 70 shares during the last quarter. Summit Trail Advisors LLC boosted its holdings in shares of American Express by 1.6% in the third quarter. Summit Trail Advisors LLC now owns 4,345 shares of the payment services company’s stock worth $586,000 after buying an additional 70 shares during the last quarter. Finally, Boston Financial Mangement LLC raised its stake in American Express by 1.3% during the 3rd quarter. Boston Financial Mangement LLC now owns 5,607 shares of the payment services company’s stock worth $756,000 after acquiring an additional 71 shares during the period. Hedge funds and other institutional investors own 83.30% of the company’s stock.

American Express Price Performance

NYSE:AXP opened at $156.52 on Friday. The business’s 50-day moving average is $168.04 and its 200 day moving average is $155.30. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.72. American Express has a 12 month low of $130.65 and a 12 month high of $194.35. The company has a market capitalization of $116.48 billion, a P/E ratio of 15.91, a P/E/G ratio of 0.98 and a beta of 1.20.

American Express (NYSE:AXP – Get Rating) last issued its quarterly earnings data on Friday, January 27th. The payment services company reported $2.07 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($0.11). American Express had a return on equity of 31.76% and a net margin of 14.16%. The company had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $14.25 billion. During the same period in the previous year, the firm earned $2.18 earnings per share. The company’s revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts forecast that American Express will post 11.25 earnings per share for the current fiscal year.

American Express announced that its board has authorized a stock buyback plan on Wednesday, March 8th that authorizes the company to buyback 120,000,000 shares. This buyback authorization authorizes the payment services company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 10th. Shareholders of record on Friday, April 7th will be paid a dividend of $0.60 per share. This is a boost from American Express’s previous quarterly dividend of $0.52. This represents a $2.40 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Wednesday, April 5th. American Express’s payout ratio is presently 21.14%.

Insiders Place Their Bets

In other American Express news, insider Howard Grosfield sold 5,456 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $174.52, for a total transaction of $952,181.12. Following the completion of the transaction, the insider now owns 7,045 shares in the company, valued at $1,229,493.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other American Express news, insider Howard Grosfield sold 5,456 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $174.52, for a total transaction of $952,181.12. Following the completion of the transaction, the insider now owns 7,045 shares in the company, valued at $1,229,493.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Monique Herena sold 15,217 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $173.18, for a total value of $2,635,280.06. Following the transaction, the insider now owns 13,712 shares of the company’s stock, valued at approximately $2,374,644.16. The disclosure for this sale can be found here. Insiders have sold 49,361 shares of company stock valued at $8,773,678 over the last ninety days. 0.11% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on AXP shares. Stephens cut shares of American Express from an “equal weight” rating to an “underweight” rating and set a $134.00 price objective for the company. in a research note on Thursday, January 5th. BMO Capital Markets raised their price target on American Express from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Monday, January 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of American Express in a research note on Friday, January 27th. UBS Group started coverage on American Express in a research note on Monday, November 21st. They issued a “neutral” rating and a $168.00 price objective for the company. Finally, Morgan Stanley raised American Express from an “equal weight” rating to an “overweight” rating and set a $186.00 price objective for the company in a research note on Wednesday, February 8th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, American Express presently has a consensus rating of “Hold” and an average target price of $175.44.

About American Express

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American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: U.S Consumer Services (USCS), Commercial Services (CS), International Card Services (ICS), Global Merchant and Network Services (GMNS), and Corporate and Other.