Tennessee Valley Asset Management Partners Invests $28,000 in American Express (NYSE:AXP)

Tennessee Valley Asset Management Partners bought a new position in shares of American Express (NYSE:AXP) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 150 shares of the payment services company’s stock, valued at approximately $28,000.

Several other large investors have also made changes to their positions in AXP. Boston Partners acquired a new position in shares of American Express during the 3rd quarter worth approximately $210,540,000. International Assets Investment Management LLC raised its stake in American Express by 1,313.2% in the 4th quarter. International Assets Investment Management LLC now owns 768,769 shares of the payment services company’s stock valued at $1,440,210,000 after purchasing an additional 714,370 shares during the last quarter. Canoe Financial LP acquired a new position in American Express in the 3rd quarter valued at $73,906,000. Schonfeld Strategic Advisors LLC raised its stake in American Express by 636.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 442,307 shares of the payment services company’s stock valued at $65,988,000 after purchasing an additional 382,272 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in American Express by 417.3% in the 4th quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock valued at $77,876,000 after purchasing an additional 335,338 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Performance

NYSE AXP opened at $239.23 on Thursday. The stock has a market cap of $172.08 billion, a PE ratio of 19.71, a P/E/G ratio of 1.33 and a beta of 1.23. The company has a current ratio of 1.62, a quick ratio of 1.63 and a debt-to-equity ratio of 1.70. American Express has a twelve month low of $140.91 and a twelve month high of $240.55. The stock has a fifty day simple moving average of $221.62 and a 200-day simple moving average of $190.53.

American Express (NYSE:AXP) last announced its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. American Express had a return on equity of 32.46% and a net margin of 14.50%. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. During the same period last year, the business posted $2.40 EPS. American Express’s revenue for the quarter was up 10.6% on a year-over-year basis. Equities analysts anticipate that American Express will post 12.96 earnings per share for the current year.

American Express Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 4th. American Express’s dividend payout ratio (DPR) is 23.06%.

Analyst Ratings Changes

Several research analysts recently commented on the company. TD Cowen increased their price objective on American Express from $221.00 to $225.00 and gave the company a “hold” rating in a research note on Monday. Morgan Stanley increased their price objective on American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a research note on Monday. Barclays reissued an “equal weight” rating and issued a $221.00 price objective (up from $220.00) on shares of American Express in a research note on Tuesday, April 9th. Monness Crespi & Hardt raised American Express from a “neutral” rating to a “buy” rating and set a $245.00 target price for the company in a research note on Friday, April 5th. Finally, Stephens raised American Express from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $148.00 to $193.00 in a research note on Tuesday, January 2nd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $209.52.

Insider Activity at American Express

In related news, insider Howard Grosfield sold 7,029 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the completion of the transaction, the insider now directly owns 12,388 shares in the company, valued at approximately $2,522,816.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American Express news, CEO Stephen J. Squeri sold 69,356 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $213.02, for a total value of $14,774,215.12. Following the sale, the chief executive officer now owns 122,158 shares of the company’s stock, valued at approximately $26,022,097.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Howard Grosfield sold 7,029 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $203.65, for a total value of $1,431,455.85. Following the completion of the sale, the insider now directly owns 12,388 shares in the company, valued at approximately $2,522,816.20. The disclosure for this sale can be found here. Insiders sold 172,047 shares of company stock worth $36,528,388 in the last three months. 0.11% of the stock is owned by company insiders.

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.