NBT Bank N A NY Sells 310 Shares of American Express Company $AXP

NBT Bank N A NY reduced its holdings in shares of American Express Company (NYSE:AXP) by 1.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 17,059 shares of the payment services company’s stock after selling 310 shares during the period. NBT Bank N A NY’s holdings in American Express were worth $5,441,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in American Express by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock worth $12,334,299,000 after buying an additional 605,900 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of American Express by 13.7% in 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 buying an additional 2,168,445 shares during the last quarter. Nuveen LLC purchased a new stake in shares of American Express in the first quarter worth about $1,454,667,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in American Express by 1.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company’s stock worth $1,370,489,000 after purchasing an additional 78,538 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings 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 valued at $1,278,711,000 after acquiring an additional 965,221 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AXP. Truist Financial upped their price target on American Express from $348.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Royal Bank Of Canada restated an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Keefe, Bruyette & Woods lifted their target price on American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. BTIG Research set a $277.00 price target on American Express and gave the company a “sell” rating in a research note on Monday, July 14th. Finally, Citigroup reiterated a “neutral” rating and set a $327.00 target price (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $323.55.

American Express Price Performance

Shares of NYSE:AXP opened at $327.61 on Wednesday. American Express Company has a 12 month low of $220.43 and a 12 month high of $349.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.61 and a quick ratio of 1.60. The business’s 50 day simple moving average is $320.81 and its 200-day simple moving average is $299.26. The firm has a market capitalization of $227.98 billion, a price-to-earnings ratio of 22.99, a price-to-earnings-growth ratio of 1.76 and a beta of 1.29.

American Express (NYSE:AXP) last posted its earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.86 by $0.22. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the prior year, the company earned $3.49 EPS. American Express’s revenue was up 9.3% on a year-over-year basis. As a group, equities analysts forecast that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. American Express’s dividend payout ratio is presently 23.02%.

Insider Transactions at American Express

In related news, CEO Stephen J. Squeri sold 112,272 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the sale, the chief executive officer owned 92,810 shares of the company’s stock, valued at approximately $30,614,306.60. This represents a 54.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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 disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock worth $85,261,270 in the last quarter. Insiders own 0.20% of the company’s stock.

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.