Bank of New York Mellon Corp Sells 103,400 Shares of American Express Company $AXP

Bank of New York Mellon Corp reduced its position in shares of American Express Company (NYSE:AXP) by 2.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,944,224 shares of the payment services company’s stock after selling 103,400 shares during the quarter. Bank of New York Mellon Corp’s holdings in American Express were worth $1,310,113,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in American Express by 24.4% in the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after buying an additional 1,273 shares during the period. Sivia Capital Partners LLC raised its holdings in shares of American Express by 13.0% during the second quarter. Sivia Capital Partners LLC now owns 1,738 shares of the payment services company’s stock valued at $554,000 after acquiring an additional 200 shares in the last quarter. GC Wealth Management RIA LLC bought a new position in shares of American Express during the second quarter valued at approximately $1,713,000. Venture Visionary Partners LLC boosted its holdings in American Express by 0.8% in the second quarter. Venture Visionary Partners LLC now owns 24,426 shares of the payment services company’s stock valued at $7,792,000 after acquiring an additional 195 shares in the last quarter. Finally, Spartan Planning & Wealth Management bought a new stake in American Express in the second quarter valued at $385,000. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $360.21, for a total value of $18,010,500.00. Following the transaction, the chief marketing officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.20% of the stock is currently owned by insiders.

American Express Stock Performance

AXP stock opened at $359.54 on Wednesday. The stock’s 50 day simple moving average is $368.86 and its 200 day simple moving average is $343.19. 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 Company has a 12-month low of $220.43 and a 12-month high of $387.49. The stock has a market capitalization of $247.67 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.52 and a beta of 1.15.

American Express (NYSE:AXP) last announced its quarterly earnings results 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 company had revenue of ($17,139.00) million for the quarter, compared to analysts’ expectations of $18.91 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. As a group, research analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, January 2nd. American Express’s dividend payout ratio (DPR) is currently 22.01%.

Analysts Set New Price Targets

AXP has been the subject of several research analyst reports. Royal Bank Of Canada restated an “outperform” rating and issued a $425.00 price objective on shares of American Express in a report on Monday, January 12th. DZ Bank upgraded American Express from a “sell” rating to a “hold” rating and set a $340.00 target price for the company in a research note on Tuesday, October 21st. Wolfe Research initiated coverage on American Express in a research report on Monday, December 8th. They set a “peer perform” rating on the stock. Morgan Stanley set a $395.00 price objective on American Express in a report on Tuesday, January 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of American Express from $360.00 to $385.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Nine investment 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $353.95.

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.