American Express Company $AXP Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in American Express Company (NYSE:AXP) by 5.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,047,624 shares of the payment services company’s stock after selling 249,488 shares during the quarter. Bank of New York Mellon Corp owned about 0.58% of American Express worth $1,291,111,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AXP. Nuveen LLC purchased a new stake in shares of American Express during the first quarter worth approximately $1,454,667,000. Wellington Management Group LLP raised its stake in shares of American Express by 13.7% during the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock worth $4,849,777,000 after purchasing an additional 2,168,445 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of American Express by 25.5% during 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 during the last quarter. Provident Trust Co. raised its stake in shares of American Express by 136.6% during the second quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock worth $353,740,000 after purchasing an additional 640,214 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake 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 worth $12,334,299,000 after purchasing an additional 605,900 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on AXP. DZ Bank upgraded American Express from a “sell” rating to a “hold” rating and set a $340.00 price objective for the company in a research report on Tuesday, October 21st. UBS Group lifted their price objective on American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Compass Point reiterated a “neutral” rating and set a $324.00 price objective on shares of American Express in a research report on Monday, October 20th. 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 report on Monday, September 29th. Finally, HSBC set a $295.00 price objective on American Express and gave the company a “hold” rating in a research note on Friday, October 10th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $332.65.

American Express Stock Performance

American Express stock opened at $360.70 on Monday. The stock’s 50 day moving average price is $335.65 and its 200 day moving average price is $310.77. The firm has a market capitalization of $248.47 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 1.90 and a beta of 1.29. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61. American Express Company has a one year low of $220.43 and a one year high of $365.75.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 EPS for the quarter, topping the consensus estimate of $3.98 by $0.16. The firm had revenue of $18.43 billion for the quarter, compared to analyst estimates of $18.03 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%.American Express’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. As a group, sell-side analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, October 10th. American Express’s dividend payout ratio is presently 22.01%.

Insider Buying and Selling

In other news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the sale, the insider directly owned 123,613 shares in the company, valued at approximately $40,343,574.81. The trade was a 15.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas Tabish sold 2,515 shares of the business’s stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total value of $894,359.15. Following the completion of the sale, the insider owned 2,515 shares of the company’s stock, valued at $894,359.15. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 222,011 shares of company stock worth $70,725,044 over the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

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.