American Express (NYSE:AXP) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of American Express (NYSE:AXP) by 6.9% in the fourth quarter, HoldingsChannel reports. The firm owned 424,918 shares of the payment services company’s stock after selling 31,473 shares during the quarter. Thrivent Financial for Lutherans’ holdings in American Express were worth $126,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC grew its position in shares of American Express by 36,719.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock worth $300,289,000 after acquiring an additional 1,009,042 shares during the last quarter. Raymond James Financial Inc. bought a new position in American Express in the 4th quarter worth about $292,081,000. FMR LLC grew 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 worth $2,984,208,000 after purchasing an additional 866,110 shares during the last quarter. World Investment Advisors LLC increased its stake in shares of American Express by 35,213.7% in the third quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock valued at $86,002,000 after purchasing an additional 316,219 shares during the period. Finally, National Bank of Canada FI boosted its position in shares of American Express by 73.7% during the third quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock worth $191,842,000 after buying an additional 300,138 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Michael J. Angelakis acquired 3,700 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was acquired at an average cost of $269.89 per share, for a total transaction of $998,593.00. Following the completion of the acquisition, the director now owns 3,700 shares in the company, valued at approximately $998,593. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ravikumar Radhakrishnan sold 9,485 shares of the business’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 completion of the transaction, the insider now owns 13,500 shares in the company, valued at $4,308,795. This trade represents a 41.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

AXP has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their target price on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. raised their price target on American Express from $301.00 to $307.00 and gave the company a “neutral” rating in a report on Tuesday, January 14th. HSBC upped their price objective on shares of American Express from $270.00 to $294.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Monness Crespi & Hardt raised their target price on shares of American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Compass Point reduced their price target on shares of American Express from $325.00 to $309.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, American Express has a consensus rating of “Hold” and a consensus target price of $299.24.

American Express Price Performance

AXP opened at $264.36 on Tuesday. The firm has a market capitalization of $185.72 billion, a P/E ratio of 18.87, a PEG ratio of 1.41 and a beta of 1.21. The stock has a fifty day moving average of $300.85 and a 200-day moving average of $288.45. 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 12-month low of $214.51 and a 12-month high of $326.28.

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

American Express Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 4th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend is Friday, April 4th. This is a positive change from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is currently 23.41%.

American Express Company 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.