M&T Bank Corp Decreases Stake in American Express Company (NYSE:AXP)

M&T Bank Corp cut its holdings in American Express Company (NYSE:AXP - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 169,211 shares of the payment services company's stock after selling 5,387 shares during the period. M&T Bank Corp's holdings in American Express were worth $45,526,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in shares of American Express by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 11,752,084 shares of the payment services company's stock worth $3,484,312,000 after acquiring an additional 268,572 shares in the last quarter. Northern Trust Corp raised its position in shares of American Express by 16.3% in the 4th quarter. Northern Trust Corp now owns 6,825,135 shares of the payment services company's stock worth $2,025,632,000 after acquiring an additional 955,811 shares in the last quarter. Norges Bank bought a new position in shares of American Express in the 4th quarter worth about $1,785,867,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of American Express by 8.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,015,269 shares of the payment services company's stock worth $1,488,482,000 after acquiring an additional 408,283 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in American Express by 463.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company's stock valued at $1,293,259,000 after buying an additional 3,583,959 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Stock Performance

NYSE AXP traded down $5.47 during trading hours on Tuesday, reaching $317.26. 2,641,477 shares of the company were exchanged, compared to its average volume of 2,841,471. The company has a quick ratio of 1.57, a current ratio of 1.58 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $222.27 billion, a P/E ratio of 22.16, a P/E/G ratio of 1.60 and a beta of 1.25. The business's 50 day simple moving average is $296.78 and its 200-day simple moving average is $290.00. American Express Company has a 1 year low of $220.43 and a 1 year high of $329.14.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data 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. American Express had a return on equity of 32.48% and a net margin of 15.31%. The business had revenue of $16.97 billion for the quarter, compared to analysts' expectations of $17.04 billion. During the same period in the previous year, the business posted $3.33 EPS. On average, equities research analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup reissued a "neutral" rating and issued a $327.00 price objective (up previously from $300.00) on shares of American Express in a research note on Wednesday, July 2nd. Truist Financial lifted their price target on shares of American Express from $315.00 to $335.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Royal Bank Of Canada restated an "outperform" rating and set a $310.00 price objective on shares of American Express in a report on Monday, April 21st. Redburn Atlantic upgraded shares of 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 report on Wednesday, April 23rd. Finally, Argus lowered shares of American Express from a "strong-buy" rating to a "hold" rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $297.25.

Insiders Place Their Bets

In other news, insider Glenda G. Mcneal sold 3,019 shares of the company's stock in a transaction on 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 approximately $2,889,822.54. This represents a 21.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Howard Grosfield sold 9,450 shares of American Express stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $275.50, for a total value of $2,603,475.00. Following the sale, the insider owned 9,402 shares of the company's stock, valued at approximately $2,590,251. This trade represents a 50.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.20% of the company's stock.

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.