Trinity Legacy Partners LLC Cuts Holdings in American Express (NYSE:AXP)

Trinity Legacy Partners LLC lowered its stake in shares of American Express (NYSE:AXP) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,336 shares of the payment services company’s stock after selling 1,503 shares during the quarter. American Express comprises 1.3% of Trinity Legacy Partners LLC’s holdings, making the stock its 27th largest holding. Trinity Legacy Partners LLC’s holdings in American Express were worth $5,623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Sovereign Financial Group Inc. boosted its position in American Express by 2.7% in the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock valued at $398,000 after buying an additional 38 shares during the last quarter. Legacy Financial Strategies LLC raised its holdings in shares of American Express by 2.5% during the third quarter. Legacy Financial Strategies LLC now owns 1,632 shares of the payment services company’s stock worth $443,000 after purchasing an additional 40 shares during the last quarter. Concord Wealth Partners lifted its position in American Express by 10.5% during the third quarter. Concord Wealth Partners now owns 422 shares of the payment services company’s stock valued at $114,000 after purchasing an additional 40 shares during the period. Sawgrass Asset Management LLC boosted its holdings in American Express by 0.4% in the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock valued at $2,404,000 after purchasing an additional 41 shares during the last quarter. Finally, Godsey & Gibb Inc. lifted its holdings in shares of American Express by 3.5% in the 3rd quarter. Godsey & Gibb Inc. now owns 1,227 shares of the payment services company’s stock valued at $333,000 after buying an additional 41 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AXP. BTIG Research downgraded American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target for the company. in a report on Tuesday, October 8th. Bank of America upped 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. Monness Crespi & Hardt increased their price objective on American Express from $265.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, Evercore ISI upped their price target on American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a research report on Monday, October 7th. 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $253.09.

American Express Trading Down 2.8 %

Shares of AXP stock opened at $286.82 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.63 and a current ratio of 1.63. American Express has a fifty-two week low of $152.05 and a fifty-two week high of $296.83. The stock has a market capitalization of $202.05 billion, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21. The company has a 50 day moving average price of $267.52 and a 200 day moving average price of $248.67.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.30 earnings per share. Equities research analysts predict that American Express will post 13.4 EPS for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s payout ratio is currently 20.60%.

Insider Transactions at American Express

In other news, insider Anre D. Williams sold 77,887 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the transaction, the insider now owns 111,656 shares of the company’s stock, valued at approximately $30,176,150.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $270.26, for a total value of $21,049,740.62. Following the sale, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the transaction, the insider now owns 109,691 shares of the company’s stock, valued at $29,724,067.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

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.