American Express (NYSE:AXP) Position Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its holdings in shares of American Express (NYSE:AXP) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,161 shares of the payment services company’s stock after selling 2,501 shares during the period. Mutual of America Capital Management LLC’s holdings in American Express were worth $18,756,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in American Express by 8.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after purchasing an additional 662,382 shares during the period. Boston Partners raised its position in shares of American Express by 22.2% during the 1st quarter. Boston Partners now owns 2,129,175 shares of the payment services company’s stock worth $485,525,000 after buying an additional 387,166 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of American Express by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,682,959 shares of the payment services company’s stock worth $456,418,000 after acquiring an additional 7,676 shares during the period. abrdn plc boosted its holdings in shares of American Express by 2.2% in the third quarter. abrdn plc now owns 1,270,814 shares of the payment services company’s stock valued at $343,437,000 after acquiring an additional 27,859 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of American Express by 2.0% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,220,422 shares of the payment services company’s stock valued at $282,589,000 after acquiring an additional 23,487 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AXP shares. Barclays upped their target price on American Express from $250.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Royal Bank of Canada upped their price objective on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Bank of America lifted their target price on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. TD Cowen upped their price target on shares of American Express from $260.00 to $268.00 and gave the company a “hold” rating in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $268.00 to $286.00 in a research note on Monday, October 7th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $253.09.

Insider Activity

In other American Express news, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. The trade was 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 through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the 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 transaction, the insider now owns 109,691 shares in the company, valued at approximately $29,724,067.18. This trade represents a 10.68 % decrease in their position. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.

American Express Stock Performance

Shares of AXP opened at $286.87 on Friday. The company has a market capitalization of $202.09 billion, a PE ratio of 21.11, a PEG ratio of 1.65 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. The company’s 50 day moving average price is $272.31 and its 200 day moving average price is $251.20. American Express has a 52 week low of $157.97 and a 52 week high of $296.83.

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, beating the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.32% and a return on equity of 32.46%. The business had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same period in the previous year, the company posted $3.30 EPS. American Express’s revenue was up 8.2% on a year-over-year basis. Research analysts expect that American Express will post 13.4 EPS for the current fiscal year.

American Express Dividend Announcement

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. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 20.60%.

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.