Bank of New York Mellon Corp Cuts Stock Holdings in American Express Company (NYSE:AXP)

Bank of New York Mellon Corp trimmed its position in American Express Company (NYSE:AXP - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,297,112 shares of the payment services company's stock after selling 77,474 shares during the period. Bank of New York Mellon Corp owned about 0.61% of American Express worth $1,156,138,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Investment Management Corp VA ADV acquired a new stake in American Express in the 4th quarter worth about $29,000. MorganRosel Wealth Management LLC acquired a new stake in American Express in the 1st quarter worth about $29,000. Sellwood Investment Partners LLC acquired a new stake in American Express in the 4th quarter worth about $33,000. Murphy & Mullick Capital Management Corp acquired a new stake in American Express in the 4th quarter worth about $33,000. Finally, Nexus Investment Management ULC acquired a new stake in American Express in the 1st quarter worth about $34,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other American Express news, insider Glenda G. Mcneal sold 3,019 shares of the business's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total value of $799,008.54. Following the sale, the insider owned 10,919 shares of the company's stock, valued at $2,889,822.54. The trade was a 21.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Howard Grosfield sold 9,450 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total value of $2,603,475.00. Following the sale, the insider directly owned 9,402 shares in the company, valued at $2,590,251. This represents a 50.13% decrease in their position. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

American Express Trading Up 0.8%

AXP traded up $2.75 during trading hours on Friday, reaching $328.36. The company's stock had a trading volume of 1,541,782 shares, compared to its average volume of 2,845,008. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $329.14. The stock has a market cap of $230.05 billion, a PE ratio of 22.93, a P/E/G ratio of 1.60 and a beta of 1.25. The business's 50-day moving average is $295.62 and its 200-day moving average is $289.83. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57.

American Express (NYSE:AXP - Get Free Report) last announced its earnings results on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.17. The company had revenue of $16.97 billion for the quarter, compared to analyst estimates of $17.04 billion. American Express had a return on equity of 32.48% and a net margin of 15.31%. During the same quarter in the previous year, the company earned $3.33 earnings per share. As a group, equities research analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Thursday, July 3rd will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express's payout ratio is 22.91%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AXP shares. Baird R W upgraded American Express from a "strong sell" rating to a "hold" rating in a report on Friday, March 14th. JPMorgan Chase & Co. boosted their target price on American Express from $244.00 to $260.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Truist Financial boosted their target price on American Express from $315.00 to $335.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. The Goldman Sachs Group lowered their target price on American Express from $367.00 to $330.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. Finally, Citigroup restated a "neutral" rating and set a $327.00 target price (up from $300.00) on shares of American Express in a report on Wednesday. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $295.25.

American Express Company 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.