TD Waterhouse Canada Inc. Has $27.47 Million Holdings in American Express Company $AXP

TD Waterhouse Canada Inc. cut its stake in shares of American Express Company (NYSE:AXP) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,719 shares of the payment services company’s stock after selling 1,642 shares during the period. TD Waterhouse Canada Inc.’s holdings in American Express were worth $27,470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nordea Investment Management AB boosted its stake in American Express by 2.2% during the 2nd quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock valued at $721,525,000 after purchasing an additional 49,593 shares during the last quarter. ZEGA Investments LLC purchased a new stake in shares of American Express during the third quarter valued at $1,080,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in American Express by 0.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,598,743 shares of the payment services company’s stock worth $531,038,000 after buying an additional 4,080 shares in the last quarter. Dempze Nancy E raised its position in American Express by 210.2% in the 2nd quarter. Dempze Nancy E now owns 3,459 shares of the payment services company’s stock worth $1,103,000 after buying an additional 2,344 shares during the last quarter. Finally, Reliant Investment Management LLC lifted its stake in American Express by 1.9% during the 2nd quarter. Reliant Investment Management LLC now owns 26,189 shares of the payment services company’s stock valued at $8,354,000 after acquiring an additional 480 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

American Express Stock Down 0.7%

Shares of AXP opened at $356.89 on Thursday. The company has a market capitalization of $245.84 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.51 and a beta of 1.15. The business’s 50 day moving average is $369.10 and its 200 day moving average is $343.29. American Express Company has a 12-month low of $220.43 and a 12-month high of $387.49. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, January 30th. The payment services company reported ($11.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($15.41). The firm had revenue of ($17,139.00) million during the quarter, compared to the consensus estimate of $18.91 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%. Research analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Friday, January 2nd will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.28 annualized dividend and a yield of 0.9%. American Express’s dividend payout ratio is 22.01%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AXP. Barclays boosted their price objective on shares of American Express from $355.00 to $367.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. UBS Group set a $385.00 target price on American Express in a report on Monday, January 12th. Keefe, Bruyette & Woods upped their price target on shares of American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Truist Financial upped their target price on shares of American Express from $395.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Finally, Morgan Stanley set a $395.00 price objective on shares of American Express in a research report on Tuesday, January 20th. Nine equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $353.95.

Insider Activity at American Express

In other American Express news, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the transaction, the chief marketing officer owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. This trade represents a 36.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

About American Express

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.