New Mexico Educational Retirement Board lowered its stake in American Express Company (NYSE:AXP) by 3.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 67,713 shares of the payment services company’s stock after selling 2,100 shares during the quarter. New Mexico Educational Retirement Board’s holdings in American Express were worth $6,125,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Appleton Partners Inc. MA grew its stake in American Express by 0.3% in the 2nd quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock valued at $224,000 after acquiring an additional 8 shares during the period. Westside Investment Management Inc. lifted its holdings in American Express by 0.5% in the 2nd quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after purchasing an additional 8 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its holdings in American Express by 0.4% in the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,652 shares of the payment services company’s stock valued at $223,000 after purchasing an additional 11 shares in the last quarter. Dearborn Partners LLC lifted its holdings in American Express by 0.6% in the 2nd quarter. Dearborn Partners LLC now owns 2,861 shares of the payment services company’s stock valued at $241,000 after purchasing an additional 18 shares in the last quarter. Finally, Advisory Services Network LLC lifted its holdings in American Express by 0.4% in the 2nd quarter. Advisory Services Network LLC now owns 5,635 shares of the payment services company’s stock valued at $475,000 after purchasing an additional 25 shares in the last quarter. 83.35% of the stock is currently owned by hedge funds and other institutional investors.

AXP has been the topic of a number of research reports. Buckingham Research initiated coverage on American Express in a report on Monday, October 2nd. They issued a “neutral” rating and a $92.00 price objective on the stock. Credit Suisse Group restated a “sell” rating and issued a $79.00 price objective on shares of American Express in a report on Wednesday, October 4th. Bank of America restated a “buy” rating and issued a $102.00 price objective on shares of American Express in a report on Monday, October 9th. Wells Fargo & Co initiated coverage on American Express in a report on Tuesday, October 10th. They issued an “outperform” rating and a $105.00 price objective on the stock. Finally, Compass Point lowered American Express from a “buy” rating to a “neutral” rating in a report on Thursday, October 12th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $97.84.

In related news, insider James Peter Bush sold 12,789 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $99.45, for a total value of $1,271,866.05. Following the sale, the insider now directly owns 92,504 shares in the company, valued at approximately $9,199,522.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anre D. Williams sold 30,761 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the completion of the sale, the insider now owns 28,720 shares in the company, valued at $2,682,735.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 442,869 shares of company stock worth $42,823,869. Insiders own 0.67% of the company’s stock.

American Express Company (AXP) opened at $101.22 on Thursday. American Express Company has a fifty-two week low of $75.39 and a fifty-two week high of $101.65. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $87,860.00, a price-to-earnings ratio of 19.54, a PEG ratio of 1.49 and a beta of 1.22.

American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The business had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.31 billion. During the same quarter in the previous year, the firm earned $1.24 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. research analysts expect that American Express Company will post 5.86 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.40 annualized dividend and a dividend yield of 1.38%. American Express’s dividend payout ratio is presently 27.03%.

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American Express Profile

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

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Institutional Ownership by Quarter for American Express (NYSE:AXP)

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