Trinity Legacy Partners LLC Sells 1,503 Shares of American Express (NYSE:AXP)

Trinity Legacy Partners LLC lowered its position in shares of American Express (NYSE:AXP) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,336 shares of the payment services company’s stock after selling 1,503 shares during the quarter. American Express accounts for approximately 1.3% of Trinity Legacy Partners LLC’s investment portfolio, making the stock its 27th biggest holding. Trinity Legacy Partners LLC’s holdings in American Express were worth $5,623,000 at the end of the most recent quarter.

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

American Express Stock Down 2.8 %

Shares of American Express stock opened at $286.82 on Friday. The company has a market cap of $202.05 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a twelve month low of $152.05 and a twelve month high of $296.83. The company’s 50 day moving average is $267.52 and its 200 day moving average is $248.67.

American Express (NYSE:AXP) last released its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The company had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same period in the previous year, the business earned $3.30 earnings per share. American Express’s quarterly revenue was up 8.2% compared to the same quarter last year. Research analysts anticipate that American Express will post 13.4 EPS for the current year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 20.60%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AXP. BTIG Research lowered American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a research report on Tuesday, October 8th. Compass Point initiated coverage on American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective for the company. Morgan Stanley boosted their target price on shares of American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $268.00 to $286.00 in a research note on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $253.09.

Insider Buying and Selling

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

About American Express

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.