American Express Company $AXP Position Cut by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC has reduced its position in American Express by 1.7%, owning 63,473 shares worth approximately $20.25 million as of the latest SEC filing.
• American Express reported a quarterly EPS of $4.14, exceeding analysts' estimates by $0.16, with revenues reaching $18.43 billion, up 11% year-over-year.
• The company declared a quarterly dividend of $0.82 per share, with an annualized dividend yield of 0.9%, set to be paid on November 10th.

Mutual of America Capital Management LLC lowered its position in shares of American Express Company (NYSE:AXP - Free Report) by 1.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 63,473 shares of the payment services company's stock after selling 1,071 shares during the period. Mutual of America Capital Management LLC's holdings in American Express were worth $20,247,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of American Express during the first quarter worth approximately $1,454,667,000. Wellington Management Group LLP boosted its position in American Express by 13.7% during the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company's stock worth $4,849,777,000 after acquiring an additional 2,168,445 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of American Express by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company's stock worth $1,278,711,000 after purchasing an additional 965,221 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of American Express by 1.3% during the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company's stock valued at $12,334,299,000 after purchasing an additional 605,900 shares during the period. Finally, Provident Trust Co. bought a new stake in shares of American Express during the first quarter valued at about $126,119,000. 84.33% of the stock is currently owned by institutional investors.

American Express Trading Up 7.2%

Shares of NYSE:AXP opened at $346.45 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.60 and a current ratio of 1.61. The stock has a market capitalization of $241.09 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.82 and a beta of 1.29. American Express Company has a 1-year low of $220.43 and a 1-year high of $349.19. The company has a 50 day moving average price of $325.64 and a 200 day moving average price of $302.28.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 EPS for the quarter, beating analysts' consensus estimates of $3.98 by $0.16. The company had revenue of $18.43 billion during the quarter, compared to the consensus estimate of $18.03 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The company's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. On average, research analysts anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be given a $0.82 dividend. The ex-dividend date is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. American Express's dividend payout ratio (DPR) is 23.02%.

Insider Transactions at American Express

In other news, insider Glenda G. Mcneal sold 50,000 shares of American Express stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $309.50, for a total value of $15,475,000.00. Following the transaction, the insider directly owned 10,957 shares of the company's stock, valued at $3,391,191.50. This trade represents a 82.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anna Marrs sold 5,500 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the sale, the insider owned 20,311 shares in the company, valued at $6,312,049.47. This represents a 21.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,996 shares of company stock worth $85,261,270 in the last three months. Insiders own 0.20% of the company's stock.

Wall Street Analyst Weigh In

AXP has been the subject of a number of recent analyst reports. DZ Bank lowered shares of American Express from a "hold" rating to a "sell" rating in a research report on Monday, July 21st. Wells Fargo & Company upped their price target on shares of American Express from $350.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. HSBC set a $295.00 price objective on shares of American Express and gave the company a "hold" rating in a research note on Friday, October 10th. Deutsche Bank Aktiengesellschaft boosted their target price on American Express from $371.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, July 21st. Finally, Morgan Stanley lifted their price target on American Express from $311.00 to $362.00 and gave the company an "equal weight" rating in a research report on Monday, September 29th. Nine investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, American Express has an average rating of "Hold" and an average price target of $323.60.

American Express Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.