Thoroughbred Financial Services LLC decreased its stake in American Express (NYSE:AXP) by 22.0% in the first quarter, HoldingsChannel.com reports. The firm owned 2,467 shares of the payment services company’s stock after selling 694 shares during the period. Thoroughbred Financial Services LLC’s holdings in American Express were worth $270,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pearl River Capital LLC purchased a new stake in American Express in the 4th quarter worth about $25,000. JNBA Financial Advisors purchased a new stake in American Express in the 4th quarter worth about $26,000. Camarda Financial Advisors LLC purchased a new stake in American Express in the 1st quarter worth about $26,000. Creative Financial Designs Inc. ADV purchased a new stake in American Express in the 1st quarter worth about $28,000. Finally, Clarfeld Financial Advisors LLC purchased a new stake in American Express in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 84.25% of the company’s stock.

Shares of AXP traded down $1.42 during midday trading on Thursday, reaching $118.59. 79,954 shares of the stock were exchanged, compared to its average volume of 3,328,386. American Express has a 12-month low of $89.05 and a 12-month high of $120.88. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market capitalization of $100.67 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.39 and a beta of 1.13.

American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, April 18th. The payment services company reported $2.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.00 by $0.01. American Express had a return on equity of 29.86% and a net margin of 16.60%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.46 billion. During the same period last year, the business earned $1.86 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. On average, equities research analysts expect that American Express will post 8.12 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Wednesday, July 3rd. American Express’s payout ratio is 21.28%.

In related news, Chairman Stephen J. Squeri sold 101,964 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $119.95, for a total value of $12,230,581.80. Following the transaction, the chairman now directly owns 258,948 shares of the company’s stock, valued at approximately $31,060,812.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael John O’neill sold 15,749 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $113.94, for a total value of $1,794,441.06. Following the completion of the transaction, the insider now directly owns 69,941 shares in the company, valued at $7,969,077.54. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Several brokerages recently issued reports on AXP. ValuEngine raised American Express from a “hold” rating to a “buy” rating in a research note on Monday. Stephens set a $131.00 price target on American Express and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $120.00 price target on shares of American Express in a research note on Friday, May 3rd. Morgan Stanley raised American Express from an “equal weight” rating to an “overweight” rating and set a $140.00 price target for the company in a research note on Friday, May 3rd. Finally, UBS Group downgraded American Express from a “buy” rating to a “neutral” rating and set a $117.60 price target for the company. in a research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. American Express presently has an average rating of “Hold” and an average target price of $116.63.

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American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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