TCV Trust & Wealth Management Inc. Sells 100 Shares of American Express (NYSE:AXP)

TCV Trust & Wealth Management Inc. lessened its stake in American Express (NYSE:AXP) by 6.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,481 shares of the payment services company’s stock after selling 100 shares during the quarter. TCV Trust & Wealth Management Inc.’s holdings in American Express were worth $402,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Kathmere Capital Management LLC purchased a new position in shares of American Express during the 1st quarter valued at $242,000. Vicus Capital bought a new position in shares of American Express during the first quarter valued at about $299,000. CRA Financial Services LLC bought a new position in American Express in the first quarter worth about $232,000. Cornerstone Wealth Group LLC raised its stake in American Express by 11.0% in the first quarter. Cornerstone Wealth Group LLC now owns 3,347 shares of the payment services company’s stock worth $762,000 after buying an additional 332 shares in the last quarter. Finally, Roberts Wealth Advisors LLC purchased a new stake in American Express in the first quarter worth about $207,000. Institutional investors own 84.33% of the company’s stock.

American Express Trading Down 1.0 %

NYSE:AXP opened at $267.35 on Friday. American Express has a 52 week low of $141.02 and a 52 week high of $286.36. The firm has a 50 day moving average of $263.88 and a 200 day moving average of $245.57. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $192.31 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion for the quarter, compared to analyst estimates of $16.68 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. American Express’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.30 EPS. As a group, sell-side analysts anticipate that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 1.05%. American Express’s dividend payout ratio is presently 23.06%.

Analyst Ratings Changes

AXP has been the topic of a number of recent research reports. Monness Crespi & Hardt upped their price objective on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Bank of America increased their price target on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. HSBC downgraded shares of American Express from a “buy” rating to a “hold” rating and raised their price objective for the company from $265.00 to $270.00 in a research report on Tuesday, October 8th. Wells Fargo & Company raised their price objective on shares of American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, TD Cowen boosted their target price on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus price target of $253.09.

Insider Buying and Selling at American Express

In other news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the transaction, the insider now directly owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.12% of the company’s stock.

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.