TD Asset Management Inc Decreases Stake in American Express Company $AXP

TD Asset Management Inc decreased its holdings in American Express Company (NYSE:AXP) by 1.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,091,135 shares of the payment services company’s stock after selling 22,239 shares during the quarter. TD Asset Management Inc’s holdings in American Express were worth $667,030,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. IFC Advisors LLC raised its position in American Express by 0.5% in the second quarter. IFC Advisors LLC now owns 9,087 shares of the payment services company’s stock worth $2,899,000 after acquiring an additional 44 shares in the last quarter. Founders Grove Wealth Partners LLC raised its position in American Express by 7.2% in the second quarter. Founders Grove Wealth Partners LLC now owns 1,077 shares of the payment services company’s stock worth $344,000 after acquiring an additional 72 shares in the last quarter. RFG Advisory LLC raised its position in American Express by 6.4% in the second quarter. RFG Advisory LLC now owns 12,424 shares of the payment services company’s stock worth $3,963,000 after acquiring an additional 746 shares in the last quarter. Perfromance Wealth Partners LLC purchased a new position in American Express in the second quarter worth $351,000. Finally, Axxcess Wealth Management LLC raised its position in American Express by 42.0% in the second quarter. Axxcess Wealth Management LLC now owns 5,195 shares of the payment services company’s stock worth $1,657,000 after acquiring an additional 1,536 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insiders Place Their Bets

In other news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the sale, the insider owned 123,613 shares of the company’s stock, valued at $40,343,574.81. The trade was a 15.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the completion of the sale, the insider directly owned 10,957 shares of the company’s stock, valued at approximately $3,391,191.50. This represents a 82.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is currently owned by company insiders.

American Express Stock Performance

American Express stock opened at $323.17 on Tuesday. The company has a market capitalization of $224.89 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 1.66 and a beta of 1.29. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $349.19. The stock has a fifty day moving average of $322.66 and a two-hundred day moving average of $300.77.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $3.86 by $0.22. The business had revenue of $17.86 billion during the quarter, compared to the consensus estimate of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.49 earnings per share. On average, analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express’s payout ratio is currently 23.02%.

Analyst Upgrades and Downgrades

AXP has been the subject of several research analyst reports. Morgan Stanley increased their price objective on American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. HSBC set a $295.00 price objective on American Express and gave the stock a “hold” rating in a report on Friday. Citigroup reaffirmed a “neutral” rating and set a $327.00 price objective (up from $300.00) on shares of American Express in a report on Wednesday, July 2nd. Keefe, Bruyette & Woods lifted their price objective on American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a report on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, American Express presently has an average rating of “Hold” and an average target price of $323.60.

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.