Mathes Company Inc. Sells 1,732 Shares of American Express Company (NYSE:AXP)

Mathes Company Inc. lowered its holdings in shares of American Express Company (NYSE:AXP - Free Report) by 10.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,038 shares of the payment services company's stock after selling 1,732 shares during the quarter. American Express makes up approximately 1.6% of Mathes Company Inc.'s holdings, making the stock its 21st biggest position. Mathes Company Inc.'s holdings in American Express were worth $4,046,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Trillium Asset Management LLC raised its stake in American Express by 1.4% in the 4th quarter. Trillium Asset Management LLC now owns 2,449 shares of the payment services company's stock valued at $727,000 after purchasing an additional 35 shares during the last quarter. Zions Bancorporation N.A. raised its stake in American Express by 2.4% in the 4th quarter. Zions Bancorporation N.A. now owns 1,510 shares of the payment services company's stock valued at $448,000 after purchasing an additional 35 shares during the last quarter. Arista Wealth Management LLC raised its stake in American Express by 1.7% in the 4th quarter. Arista Wealth Management LLC now owns 2,275 shares of the payment services company's stock valued at $675,000 after purchasing an additional 37 shares during the last quarter. PDS Planning Inc raised its stake in American Express by 1.3% in the 4th quarter. PDS Planning Inc now owns 2,967 shares of the payment services company's stock valued at $880,000 after purchasing an additional 38 shares during the last quarter. Finally, Diversified Enterprises LLC raised its stake in American Express by 2.1% in the 4th quarter. Diversified Enterprises LLC now owns 1,939 shares of the payment services company's stock valued at $575,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company's stock.

American Express Stock Performance

NYSE AXP opened at $319.49 on Friday. The stock has a fifty day simple moving average of $300.79 and a 200-day simple moving average of $290.68. American Express Company has a twelve month low of $220.43 and a twelve month high of $329.14. The stock has a market cap of $223.83 billion, a PE ratio of 22.31, a P/E/G ratio of 1.58 and a beta of 1.25. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 1.64.

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

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, July 3rd. American Express's dividend payout ratio (DPR) is 22.91%.

Wall Street Analysts Forecast Growth

AXP has been the subject of several recent research reports. Redburn Atlantic raised American Express from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $270.00 to $255.00 in a research note on Wednesday, April 23rd. Truist Financial upped their target price on American Express from $335.00 to $340.00 and gave the company a "buy" rating in a report on Wednesday. Keefe, Bruyette & Woods upped their target price on American Express from $360.00 to $371.00 and gave the company an "outperform" rating in a report on Wednesday. Robert W. Baird upgraded American Express from an "underperform" rating to a "neutral" rating and set a $265.00 target price for the company in a report on Friday, March 14th. Finally, Monness Crespi & Hardt upped their target price on American Express from $275.00 to $285.00 and gave the company a "buy" rating in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $305.74.

Insider Transactions at American Express

In related news, insider Howard Grosfield sold 9,450 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $275.50, for a total transaction of $2,603,475.00. Following the completion of the transaction, the insider directly owned 9,402 shares in the company, valued at $2,590,251. This trade represents a 50.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Glenda G. Mcneal sold 3,019 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $264.66, for a total value of $799,008.54. Following the transaction, the insider owned 10,919 shares of the company's stock, valued at $2,889,822.54. This trade represents a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.20% of the company's stock.

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.

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