Thrivent Financial for Lutherans Sells 7,202 Shares of American Express (NYSE:AXP)

Thrivent Financial for Lutherans trimmed its stake in American Express (NYSE:AXP) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 456,391 shares of the payment services company’s stock after selling 7,202 shares during the period. Thrivent Financial for Lutherans’ holdings in American Express were worth $123,773,000 at the end of the most recent reporting period.

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

American Express Stock Performance

Shares of AXP stock opened at $286.87 on Friday. American Express has a 52 week low of $157.97 and a 52 week high of $296.83. The firm’s 50-day simple moving average is $272.31 and its two-hundred day simple moving average is $251.20. The firm has a market cap of $202.09 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 1.64 and a beta of 1.21. 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 (NYSE:AXP) last posted its quarterly earnings results 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. American Express had a net margin of 15.32% and a return on equity of 32.46%. The company had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter in the previous year, the firm posted $3.30 EPS. American Express’s revenue was up 8.2% on a year-over-year basis. As a group, equities analysts forecast that American Express will post 13.47 earnings per share for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, October 4th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 0.98%. American Express’s payout ratio is 20.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Monness Crespi & Hardt lifted their target price on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $268.00 to $286.00 in a research note on Monday, October 7th. Evercore ISI raised their target price on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research note on Monday, October 7th. TD Cowen lifted their target price on American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, Royal Bank of Canada increased their price target on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Four equities research 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. According to data from MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $253.09.

Insider Buying and Selling

In other news, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. This trade represents a 41.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the sale, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by 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.