Mutual of America Capital Management LLC Sells 2,103 Shares of American Express (NYSE:AXP)

Mutual of America Capital Management LLC cut its position in shares of American Express (NYSE:AXP) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,976 shares of the payment services company’s stock after selling 2,103 shares during the quarter. Mutual of America Capital Management LLC’s holdings in American Express were worth $17,071,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AXP. Game Plan Financial Advisors LLC raised its position in shares of American Express by 62.5% in the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after acquiring an additional 50 shares in the last quarter. Scarborough Advisors LLC bought a new stake in American Express in the fourth quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new position in American Express in the fourth quarter valued at approximately $28,000. Tennessee Valley Asset Management Partners bought a new position in shares of American Express during the 4th quarter worth approximately $28,000. Finally, Sachetta LLC acquired a new stake in shares of American Express during the 4th quarter worth approximately $29,000. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In related news, CEO Stephen J. Squeri sold 38,873 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total value of $9,276,263.99. Following the transaction, the chief executive officer now directly owns 76,310 shares in the company, valued at $18,209,855.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other American Express news, EVP Quinn Jessica Lieberman sold 3,141 shares of American Express stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $232.36, for a total transaction of $729,842.76. Following the completion of the sale, the executive vice president now owns 258 shares of the company’s stock, valued at $59,948.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 38,873 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $238.63, for a total value of $9,276,263.99. Following the transaction, the chief executive officer now owns 76,310 shares in the company, valued at $18,209,855.30. The disclosure for this sale can be found here. Insiders have sold a total of 177,717 shares of company stock valued at $41,680,999 in the last 90 days. Corporate insiders own 0.11% of the company’s stock.

American Express Stock Performance

NYSE:AXP traded down $1.23 during trading on Monday, reaching $234.40. The company’s stock had a trading volume of 2,638,259 shares, compared to its average volume of 3,025,682. The firm has a 50 day moving average of $234.46 and a 200-day moving average of $218.64. The firm has a market cap of $168.60 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 1.34 and a beta of 1.21. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.62 and a current ratio of 1.62. American Express has a 12 month low of $140.91 and a 12 month high of $244.41.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The firm had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.40 earnings per share. Research analysts expect that American Express will post 12.98 EPS for the current fiscal year.

American Express Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.19%. This is a boost from American Express’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, July 5th. American Express’s payout ratio is presently 23.06%.

Wall Street Analyst Weigh In

AXP has been the topic of a number of research reports. HSBC boosted their target price on shares of American Express from $232.00 to $239.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. BMO Capital Markets raised their target price on American Express from $167.00 to $175.00 and gave the company an “underperform” rating in a research note on Monday, April 22nd. BTIG Research started coverage on American Express in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Robert W. Baird raised their price objective on American Express from $190.00 to $205.00 and gave the company an “underperform” rating in a research note on Wednesday, May 1st. Finally, Barclays restated an “equal weight” rating and set a $221.00 price objective (up previously from $220.00) on shares of American Express in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $224.48.

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.