American Express Company $AXP Stake Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of American Express Company (NYSE:AXP) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,047,624 shares of the payment services company’s stock after selling 249,488 shares during the quarter. Bank of New York Mellon Corp’s holdings in American Express were worth $1,291,111,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AXP. Nuveen LLC acquired a new position in shares of American Express during the first quarter valued at $1,454,667,000. Wellington Management Group LLP increased its holdings in shares of American Express by 13.7% during the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock valued at $4,849,777,000 after purchasing an additional 2,168,445 shares during the period. Goldman Sachs Group Inc. increased 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 purchasing an additional 965,221 shares during the period. Provident Trust Co. increased its holdings in shares of American Express by 136.6% during the second quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock valued at $353,740,000 after purchasing an additional 640,214 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of American Express by 1.3% during the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock valued at $12,334,299,000 after purchasing an additional 605,900 shares during the period. 84.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AXP shares. Wall Street Zen raised American Express from a “hold” rating to a “buy” rating in a report on Saturday. Monness Crespi & Hardt lowered shares of American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Compass Point restated a “neutral” rating and set a $324.00 price objective on shares of American Express in a research report on Monday, October 20th. Morgan Stanley raised their price objective on shares of American Express from $311.00 to $362.00 and gave the company an “equal weight” rating in a research report on Monday, September 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Nine equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $332.65.

American Express Trading Up 0.5%

NYSE:AXP opened at $360.70 on Monday. 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 1-year low of $220.43 and a 1-year high of $365.75. The firm has a market capitalization of $248.47 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 1.90 and a beta of 1.29. The stock has a fifty day simple moving average of $335.65 and a 200 day simple moving average of $310.77.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.98 by $0.16. American Express had a return on equity of 33.41% and a net margin of 14.97%.The business had revenue of $18.43 billion during the quarter, compared to analyst estimates of $18.03 billion. During the same quarter last year, the company posted $3.49 EPS. American Express’s revenue for the quarter was up 11.0% on a year-over-year basis. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Sell-side analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be given a dividend of $0.82 per share. The ex-dividend date is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. American Express’s dividend payout ratio (DPR) is presently 22.01%.

Insider Activity

In other American Express news, insider Douglas Tabish sold 2,515 shares of the firm’s stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $355.61, for a total transaction of $894,359.15. Following the completion of the sale, the insider directly owned 2,515 shares in the company, valued at approximately $894,359.15. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Laureen Seeger sold 16,998 shares of American Express stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total value of $5,011,520.34. Following the sale, the insider owned 9,001 shares of the company’s stock, valued at approximately $2,653,764.83. This represents a 65.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 222,011 shares of company stock worth $70,725,044. Corporate insiders own 0.20% of the company’s stock.

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.