Mutual of America Capital Management LLC Decreases Stock Holdings in American Express (NYSE:AXP)

Mutual of America Capital Management LLC trimmed its holdings in shares of American Express (NYSE:AXP - Free Report) by 3.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 69,161 shares of the payment services company's stock after selling 2,501 shares during the period. Mutual of America Capital Management LLC's holdings in American Express were worth $18,756,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of American Express by 8.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company's stock worth $1,923,399,000 after buying an additional 662,382 shares in the last quarter. Boston Partners lifted its holdings in shares of American Express by 22.2% during the first quarter. Boston Partners now owns 2,129,175 shares of the payment services company's stock valued at $485,525,000 after acquiring an additional 387,166 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of American Express by 0.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,682,959 shares of the payment services company's stock valued at $456,418,000 after purchasing an additional 7,676 shares in the last quarter. abrdn plc increased its position in shares of American Express by 2.2% during the 3rd quarter. abrdn plc now owns 1,270,814 shares of the payment services company's stock worth $343,437,000 after purchasing an additional 27,859 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of American Express by 2.0% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,220,422 shares of the payment services company's stock worth $282,589,000 after purchasing an additional 23,487 shares in the last quarter. Institutional investors own 84.33% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on AXP shares. JPMorgan Chase & Co. lowered shares of American Express from an "overweight" rating to a "neutral" rating and raised their price objective for the stock from $268.00 to $286.00 in a report on Monday, October 7th. HSBC cut American Express from a "buy" rating to a "hold" rating and lifted their price target for the company from $265.00 to $270.00 in a report on Tuesday, October 8th. The Goldman Sachs Group increased their price objective on shares of American Express from $270.00 to $300.00 and gave the stock a "buy" rating in a report on Monday, October 7th. Wells Fargo & Company boosted their price objective on shares of American Express from $285.00 to $300.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Finally, Evercore ISI upped their target price on shares of American Express from $275.00 to $290.00 and gave the company an "in-line" rating in a research report on Monday, October 7th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $253.09.

American Express Stock Down 0.5 %

Shares of AXP stock traded down $1.43 on Friday, reaching $286.87. 2,614,568 shares of the company were exchanged, compared to its average volume of 2,934,763. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. The company has a 50-day moving average of $272.31 and a 200-day moving average of $251.20. The company has a market cap of $202.09 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.64 and a beta of 1.21. American Express has a one year low of $157.97 and a one year high of $296.83.

American Express (NYSE:AXP - Get Free Report) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, beating analysts' consensus estimates of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The firm had revenue of $16.64 billion during the quarter, compared to analysts' expectations of $16.68 billion. During the same quarter last year, the firm posted $3.30 earnings per share. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts anticipate that American Express will post 13.47 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 0.98%. American Express's payout ratio is 20.60%.

Insider Buying and Selling at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares of the company's stock, valued at $29,724,067.18. This represents a 10.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anre D. Williams sold 77,887 shares of American Express stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the transaction, the insider now directly owns 111,656 shares in the company, valued at approximately $30,176,150.56. The trade was a 41.09 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.12% 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.