M&T Bank Corp Has $13.14 Million Position in American Express (NYSE:AXP)

M&T Bank Corp cut its position in American Express (NYSE:AXP) by 72.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,439 shares of the payment services company’s stock after selling 126,533 shares during the quarter. M&T Bank Corp’s holdings in American Express were worth $13,137,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ORG Partners LLC bought a new stake in shares of American Express during the 2nd quarter valued at approximately $199,000. 180 Wealth Advisors LLC grew its holdings in shares of American Express by 4.9% during the 2nd quarter. 180 Wealth Advisors LLC now owns 1,769 shares of the payment services company’s stock valued at $422,000 after purchasing an additional 82 shares during the last quarter. Abundance Wealth Counselors grew its holdings in shares of American Express by 3.1% during the 2nd quarter. Abundance Wealth Counselors now owns 6,335 shares of the payment services company’s stock valued at $1,467,000 after purchasing an additional 190 shares during the last quarter. Manchester Financial Inc. bought a new stake in shares of American Express during the 2nd quarter valued at approximately $293,000. Finally, Galvin Gaustad & Stein LLC grew its holdings in shares of American Express by 19.9% during the 2nd quarter. Galvin Gaustad & Stein LLC now owns 69,572 shares of the payment services company’s stock valued at $16,109,000 after purchasing an additional 11,564 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Caillec Christophe Le sold 6,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $303.48, for a total value of $1,820,880.00. Following the completion of the sale, the chief financial officer now owns 6,433 shares in the company, valued at $1,952,286.84. This represents a 48.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now owns 109,691 shares of the company’s stock, valued at approximately $29,724,067.18. The trade was a 10.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,998 shares of company stock worth $26,423,439. Insiders own 0.11% of the company’s stock.

American Express Stock Up 1.8 %

American Express stock opened at $302.16 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.80. American Express has a 12-month low of $167.77 and a 12-month high of $307.82. The firm’s fifty day moving average is $284.00 and its 200 day moving average is $258.17. The company has a market capitalization of $212.86 billion, a PE ratio of 22.23, a PEG ratio of 1.70 and a beta of 1.23.

American Express (NYSE:AXP) last released its 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 net margin of 15.32% and a return on equity of 32.46%. The company had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter in the previous year, the company earned $3.30 EPS. American Express’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that American Express will post 13.39 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, October 4th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.80 annualized dividend and a yield of 0.93%. American Express’s payout ratio is 20.60%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AXP. Evercore ISI boosted their target price on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. StockNews.com raised shares of American Express from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price on the stock. in a report on Tuesday, October 8th. Bank of America boosted their target price on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Finally, Compass Point boosted their target price on shares of American Express from $260.00 to $315.00 and gave the stock a “neutral” rating in a report on Tuesday. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $259.45.

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.