Teachers Retirement System of The State of Kentucky Lowers Stock Holdings in American Express (NYSE:AXP)

Teachers Retirement System of The State of Kentucky cut its holdings in American Express (NYSE:AXP) by 2.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 214,227 shares of the payment services company’s stock after selling 5,367 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in American Express were worth $49,605,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Gryphon Financial Partners LLC acquired a new position in shares of American Express during the fourth quarter valued at approximately $224,000. Prairieview Wealth Partners LLC purchased a new position in American Express in the 4th quarter valued at $341,000. J. W. Coons Advisors LLC boosted its stake in American Express by 4.4% during the 4th quarter. J. W. Coons Advisors LLC now owns 4,142 shares of the payment services company’s stock worth $776,000 after purchasing an additional 175 shares during the last quarter. Scotia Capital Inc. grew its holdings in shares of American Express by 5.1% during the fourth quarter. Scotia Capital Inc. now owns 11,692 shares of the payment services company’s stock worth $2,190,000 after buying an additional 565 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in shares of American Express by 18.8% in the fourth quarter. Eagle Asset Management Inc. now owns 3,431 shares of the payment services company’s stock worth $643,000 after buying an additional 542 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Trading Up 0.0 %

NYSE AXP opened at $271.17 on Tuesday. American Express has a 52 week low of $140.91 and a 52 week high of $272.68. The firm has a 50 day moving average of $251.70 and a two-hundred day moving average of $239.19. The stock has a market capitalization of $195.05 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

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

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AXP shares. Citigroup assumed coverage on shares of American Express in a research note on Monday, June 10th. They issued a “neutral” rating and a $250.00 target price on the stock. Keefe, Bruyette & Woods boosted their price objective on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Jefferies Financial Group raised their target price on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Monness Crespi & Hardt boosted their price target on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Compass Point initiated coverage on shares of American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, American Express currently has a consensus rating of “Hold” and an average price target of $231.43.

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.