American Express Company $AXP Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its position in shares of American Express Company (NYSE:AXP) by 1.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,469 shares of the payment services company’s stock after selling 2,123 shares during the period. Amalgamated Bank’s holdings in American Express were worth $37,026,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in American Express by 1.3% during the second quarter. Vanguard Group Inc. now owns 46,425,262 shares of the payment services company’s stock valued at $14,808,730,000 after buying an additional 581,369 shares in the last quarter. Geode Capital Management LLC grew its position in American Express by 11.1% during the second quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock worth $4,282,984,000 after buying an additional 1,349,746 shares in the last quarter. Norges Bank bought a new position in shares of American Express in the second quarter valued at approximately $1,897,335,000. Artisan Partners Limited Partnership lifted its stake in American Express by 3.0% in the second quarter. Artisan Partners Limited Partnership now owns 4,620,873 shares of the payment services company’s stock valued at $1,473,966,000 after buying an additional 133,439 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of American Express by 13.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,342,556 shares of the payment services company’s stock valued at $1,385,188,000 after purchasing an additional 530,967 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the stock in a transaction on 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 transaction, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at $30,825,691.17. This represents a 36.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Denise Pickett sold 5,000 shares of American Express stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total value of $1,753,650.00. Following the completion of the sale, the insider directly owned 7,726 shares of the company’s stock, valued at approximately $2,709,739.98. This trade represents a 39.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 57,515 shares of company stock worth $20,658,509 in the last 90 days. 0.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on AXP shares. Barclays lifted their target price on American Express from $355.00 to $367.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. lifted their target price on shares of American Express from $360.00 to $385.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Wall Street Zen downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. DZ Bank upgraded shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 price target on the stock in a report on Tuesday, October 21st. Finally, HSBC set a $295.00 price target on shares of American Express and gave the company a “hold” rating in a research report on Friday, October 10th. Nine equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $352.82.

American Express Stock Up 2.1%

Shares of NYSE:AXP opened at $365.03 on Friday. The business has a fifty day moving average of $368.55 and a two-hundred day moving average of $341.19. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. American Express Company has a 52-week low of $220.43 and a 52-week high of $387.49. The stock has a market cap of $251.45 billion, a P/E ratio of 24.50, a PEG ratio of 1.53 and a beta of 1.15.

American Express (NYSE:AXP) last issued 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 return on equity of 33.41% and a net margin of 14.97%.The company had revenue of ($17,139.00) million for the quarter, compared to analyst estimates of $18.91 billion. On average, research analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.82 per share. 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.