Bank of New York Mellon Corp Sells 187,398 Shares of American Express (NYSE:AXP)

Bank of New York Mellon Corp trimmed its position in shares of American Express (NYSE:AXP) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,374,586 shares of the payment services company’s stock after selling 187,398 shares during the quarter. Bank of New York Mellon Corp owned 0.62% of American Express worth $1,298,333,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC grew its stake in American Express by 8.5% in the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock valued at $2,984,208,000 after acquiring an additional 866,110 shares during the period. World Investment Advisors LLC lifted its holdings in shares of American Express by 35,213.7% during the 3rd quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock valued at $86,002,000 after purchasing an additional 316,219 shares in the last quarter. National Bank of Canada FI grew its position in shares of American Express by 73.7% in the 3rd quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock valued at $191,842,000 after purchasing an additional 300,138 shares during the period. Nordea Investment Management AB increased its stake in American Express by 12.7% during the 4th quarter. Nordea Investment Management AB now owns 2,203,772 shares of the payment services company’s stock worth $655,137,000 after purchasing an additional 247,864 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in American Express by 5.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,606,986 shares of the payment services company’s stock worth $1,249,415,000 after purchasing an additional 239,173 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

AXP has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, January 27th. William Blair reaffirmed an “outperform” rating on shares of American Express in a research note on Monday, January 27th. Monness Crespi & Hardt increased their target price on American Express from $330.00 to $355.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Truist Financial began coverage on American Express in a report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 price target on the stock. Finally, Morgan Stanley increased their price objective on American Express from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, American Express presently has an average rating of “Hold” and an average price target of $296.38.

American Express Stock Performance

Shares of AXP opened at $295.16 on Tuesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.58 and a quick ratio of 1.57. The firm has a 50-day moving average of $307.38 and a 200-day moving average of $285.47. The company has a market cap of $207.36 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 1.41 and a beta of 1.24. American Express has a one year low of $213.25 and a one year high of $326.27.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, January 24th. The payment services company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. As a group, equities analysts forecast that American Express will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 10th. Investors of record on Friday, January 3rd were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Friday, January 3rd. American Express’s dividend payout ratio (DPR) is presently 19.99%.

Insider Buying and Selling at American Express

In other news, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the transaction, the chief financial officer now directly owns 6,433 shares of the company’s stock, valued at $1,952,286.84. This represents a 48.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Raymond Joabar sold 15,179 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $313.94, for a total transaction of $4,765,295.26. Following the sale, the insider now owns 23,866 shares of the company’s stock, valued at approximately $7,492,492.04. This represents a 38.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,664 shares of company stock valued at $9,613,503 in the last quarter. 0.11% of the stock is currently owned by insiders.

American Express Company 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.