Mutual of America Capital Management LLC Cuts Stake in American Express Company $AXP

Mutual of America Capital Management LLC cut its position in American Express Company (NYSE:AXP) by 7.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 58,838 shares of the payment services company’s stock after selling 4,635 shares during the quarter. Mutual of America Capital Management LLC’s holdings in American Express were worth $19,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of American Express by 24.4% in the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after purchasing an additional 1,273 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of American Express by 13.0% during the second quarter. Sivia Capital Partners LLC now owns 1,738 shares of the payment services company’s stock valued at $554,000 after buying an additional 200 shares during the last quarter. Old Port Advisors increased its holdings in American Express by 6.3% in the 2nd quarter. Old Port Advisors now owns 1,238 shares of the payment services company’s stock worth $395,000 after buying an additional 73 shares in the last quarter. ORG Partners LLC raised its position in American Express by 948.5% in the 2nd quarter. ORG Partners LLC now owns 346 shares of the payment services company’s stock worth $112,000 after buying an additional 313 shares during the last quarter. Finally, Hengehold Capital Management LLC lifted its stake in American Express by 6.5% during the 2nd quarter. Hengehold Capital Management LLC now owns 822 shares of the payment services company’s stock valued at $262,000 after acquiring an additional 50 shares during the period. Institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Truist Financial increased their target price on American Express from $395.00 to $420.00 and gave the company a “buy” rating in a report on Monday, December 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $425.00 price objective on shares of American Express in a research report on Monday, January 12th. BTIG Research restated a “sell” rating and issued a $328.00 price objective on shares of American Express in a research note on Monday, January 12th. Wall Street Zen downgraded American Express from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Barclays upped their price target on American Express from $355.00 to $367.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 6th. Nine analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $353.95.

Insider Activity

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $360.21, for a total value of $18,010,500.00. Following the sale, the chief marketing officer owned 85,577 shares in the company, valued at $30,825,691.17. This represents a 36.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.20% of the stock is currently owned by insiders.

American Express Price Performance

NYSE:AXP opened at $361.76 on Monday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. American Express Company has a 1 year low of $220.43 and a 1 year high of $387.49. The firm has a market capitalization of $249.20 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.52 and a beta of 1.15. The business has a 50 day simple moving average of $368.05 and a 200-day simple moving average of $342.64.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, January 30th. The payment services company reported ($11.85) EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($15.41). The company had revenue of ($17,139.00) million during the quarter, compared to the consensus estimate of $18.91 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%. Equities analysts forecast that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Investors of record on Friday, January 2nd will be paid a $0.82 dividend. The ex-dividend date is Friday, January 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. American Express’s dividend payout ratio (DPR) is 22.01%.

American Express Company Profile

American Express is a global financial services company primarily known for its payment card products, travel services and merchant network. Founded in 1850 as an express mail business, the company evolved through the 20th century into a payments and travel-focused organization. Its core activities include issuing consumer and commercial charge and credit cards, operating a global card acceptance and processing network, and providing travel-related services and customer loyalty programs.

American Express issues a range of products for individuals, small businesses and large corporations, including personal cards, business and corporate cards, and co‑brand partnerships with airlines, hotels and retailers.