Mutual of America Capital Management LLC Sells 4,635 Shares of American Express Company $AXP

Mutual of America Capital Management LLC reduced its stake in American Express Company (NYSE:AXP) by 7.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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.

A number of other institutional investors have also recently bought and sold shares of AXP. Nordea Investment Management AB boosted its holdings in shares of American Express by 2.2% in the second quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock worth $721,525,000 after acquiring an additional 49,593 shares during the period. ZEGA Investments LLC bought a new position in shares of American Express in the third quarter valued at approximately $1,080,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in American Express by 0.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,598,743 shares of the payment services company’s stock worth $531,038,000 after acquiring an additional 4,080 shares during the period. Dempze Nancy E grew its position in shares of American Express by 210.2% during the 2nd quarter. Dempze Nancy E now owns 3,459 shares of the payment services company’s stock valued at $1,103,000 after purchasing an additional 2,344 shares in the last quarter. Finally, Reliant Investment Management LLC increased its stake in American Express by 1.9% in the 2nd quarter. Reliant Investment Management LLC now owns 26,189 shares of the payment services company’s stock worth $8,354,000 after acquiring an additional 480 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the sale, the chief marketing officer owned 85,577 shares of the company’s stock, valued at $30,825,691.17. The trade was a 36.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of American Express from $400.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Wall Street Zen downgraded American Express from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Evercore ISI set a $400.00 price objective on American Express in a report on Tuesday, January 6th. Weiss Ratings raised American Express from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. increased their price target on shares of American Express from $360.00 to $385.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Nine analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $353.95.

American Express Stock Down 1.7%

Shares of 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. The company has a market cap of $249.20 billion, a PE ratio of 24.28, a P/E/G ratio of 1.52 and a beta of 1.15. The stock’s 50-day moving average is $368.05 and its 200 day moving average is $342.64. American Express Company has a 1 year low of $220.43 and a 1 year high of $387.49.

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

American Express Dividend Announcement

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

About American Express

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.