Amalgamated Bank Has $31.47 Million Holdings in American Express (NYSE:AXP)

Amalgamated Bank trimmed its holdings in American Express (NYSE:AXP) by 1.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 116,041 shares of the payment services company’s stock after selling 1,634 shares during the quarter. Amalgamated Bank’s holdings in American Express were worth $31,470,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Alphinity Investment Management Pty Ltd acquired a new position in American Express in the 1st quarter worth $433,709,000. International Assets Investment Management LLC raised its holdings 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 valued at $2,467,210,000 after purchasing an additional 906,353 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of American Express by 924.2% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 851,431 shares of the payment services company’s stock worth $197,149,000 after buying an additional 768,301 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of American Express by 59,816.0% in the 3rd quarter. Pathway Financial Advisers LLC now owns 682,443 shares of the payment services company’s stock valued at $185,079,000 after acquiring an additional 681,304 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of American Express by 8.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,447,441 shares of the payment services company’s stock worth $1,923,399,000 after purchasing an additional 662,382 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Insiders Place Their Bets

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the transaction, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the transaction, the insider now directly owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Anre D. Williams sold 77,887 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total transaction of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares in the company, valued at $30,176,150.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AXP has been the topic of a number of recent analyst reports. Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Royal Bank of Canada boosted their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Compass Point initiated coverage on American Express in a research note on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price target on the stock. TD Cowen upped their price target on shares of American Express from $260.00 to $268.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group raised their price objective on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $253.09.

American Express Stock Performance

NYSE AXP opened at $270.19 on Tuesday. The stock has a market capitalization of $190.34 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 1.48 and a beta of 1.21. The stock has a 50-day moving average of $266.34 and a 200 day moving average of $248.03. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a twelve month low of $151.51 and a twelve month high of $286.36.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. American Express had a return on equity of 32.46% and a net margin of 15.32%. The business had revenue of $16.64 billion during the quarter, compared to analyst estimates of $16.68 billion. During the same period in the prior year, the business earned $3.30 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts anticipate that American Express will post 13.41 EPS for the current fiscal year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be issued a $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.04%. American Express’s dividend payout ratio (DPR) is presently 20.60%.

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.