New York State Teachers Retirement System Lowers Holdings in American Express (NYSE:AXP)

New York State Teachers Retirement System trimmed its holdings in American Express (NYSE:AXP) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 517,862 shares of the payment services company’s stock after selling 17,118 shares during the period. New York State Teachers Retirement System owned about 0.07% of American Express worth $153,696,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in AXP. International Assets Investment Management LLC lifted its position in shares of American Express by 26,783.5% in the third quarter. International Assets Investment Management LLC now owns 909,737 shares of the payment services company’s stock worth $2,467,210,000 after buying an additional 906,353 shares in the last quarter. FMR LLC lifted its position in shares of American Express by 8.5% in the third quarter. FMR LLC now owns 11,003,715 shares of the payment services company’s stock worth $2,984,208,000 after buying an additional 866,110 shares in the last quarter. Pathway Financial Advisers LLC lifted its position in shares of American Express by 59,816.0% in the third quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock worth $185,079,000 after buying an additional 681,304 shares in the last quarter. World Investment Advisors LLC lifted its position in shares of American Express by 35,213.7% in the third quarter. World Investment Advisors LLC now owns 317,117 shares of the payment services company’s stock worth $86,002,000 after buying an additional 316,219 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of American Express by 73.7% in the third quarter. National Bank of Canada FI now owns 707,381 shares of the payment services company’s stock worth $191,842,000 after buying an additional 300,138 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Express

In other news, insider Raymond Joabar sold 15,179 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 23,866 shares in the company, valued at approximately $7,492,492.04. This represents a 38.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Caillec Christophe Le sold 6,000 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 6,433 shares of the company’s stock, valued at approximately $1,952,286.84. This represents a 48.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,664 shares of company stock valued at $9,613,503. 0.12% of the stock is currently owned by corporate insiders.

American Express Stock Up 0.4 %

Shares of NYSE:AXP opened at $307.49 on Friday. American Express has a 52-week low of $208.82 and a 52-week high of $326.27. The stock has a market cap of $216.61 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24. The business’s 50 day moving average is $306.67 and its 200 day moving average is $281.42. The company has a quick ratio of 1.63, a current ratio of 1.67 and a debt-to-equity ratio of 1.64.

American Express (NYSE:AXP) last announced its earnings results on Friday, January 24th. The payment services company reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.04. American Express had a return on equity of 32.65% and a net margin of 15.36%. Sell-side analysts predict that American Express will post 15.32 EPS for the current year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 10th. Shareholders of record on Friday, January 3rd were given a dividend of $0.70 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.80 annualized dividend and a yield of 0.91%. American Express’s dividend payout ratio (DPR) is presently 19.99%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AXP shares. Truist Financial started coverage on American Express in a research report on Tuesday, January 7th. They issued a “buy” rating and a $350.00 target price on the stock. Citigroup upped their price objective on American Express from $305.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Monness Crespi & Hardt upped their price objective on American Express from $330.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Compass Point decreased their price objective on American Express from $325.00 to $309.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods upped their price objective on American Express from $350.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, American Express has an average rating of “Hold” and an average price target of $296.38.

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.