Toronto Dominion Bank Sells 128,415 Shares of American Express (NYSE:AXP)

Toronto Dominion Bank lowered its position in American Express (NYSE:AXP) by 35.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 235,648 shares of the payment services company’s stock after selling 128,415 shares during the quarter. Toronto Dominion Bank’s holdings in American Express were worth $54,564,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock valued at $1,923,399,000 after acquiring an additional 662,382 shares during the period. TD Asset Management Inc grew its stake in shares of American Express by 8.2% in the 1st quarter. TD Asset Management Inc now owns 2,595,370 shares of the payment services company’s stock valued at $590,940,000 after purchasing an additional 195,876 shares during the period. Boston Partners raised its holdings in shares of American Express by 22.2% in the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after buying an additional 387,166 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new position in shares of American Express in the 1st quarter worth approximately $433,709,000. Finally, Nordea Investment Management AB lifted its position in shares of American Express by 14.2% during the 1st quarter. Nordea Investment Management AB now owns 1,798,742 shares of the payment services company’s stock worth $408,494,000 after buying an additional 224,079 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AXP shares. JPMorgan Chase & Co. increased their price objective on American Express from $240.00 to $268.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. Wells Fargo & Company increased their target price on shares of American Express from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. Citigroup initiated coverage on shares of American Express in a research report on Monday, June 10th. They issued a “neutral” rating and a $250.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $230.78.

American Express Stock Performance

Shares of NYSE:AXP opened at $266.17 on Thursday. The stock has a market capitalization of $189.22 billion, a P/E ratio of 21.93, a P/E/G ratio of 1.48 and a beta of 1.21. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 1-year low of $140.91 and a 1-year high of $272.41. The business has a 50-day moving average price of $249.90 and a two-hundred day moving average price of $237.85.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same period in the prior year, the business posted $2.89 earnings per share. American Express’s revenue was up 9.2% compared to the same quarter last year. Equities analysts predict that American Express will post 13.13 earnings per share for the current year.

American Express Dividend Announcement

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

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.