New York State Common Retirement Fund Sells 41,500 Shares of American Express Company $AXP

New York State Common Retirement Fund trimmed its holdings in American Express Company (NYSE:AXP) by 6.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 625,625 shares of the payment services company’s stock after selling 41,500 shares during the period. New York State Common Retirement Fund’s holdings in American Express were worth $207,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AXP. Gratus Wealth Advisors LLC raised its holdings in American Express by 0.8% in the 3rd quarter. Gratus Wealth Advisors LLC now owns 3,712 shares of the payment services company’s stock valued at $1,233,000 after acquiring an additional 28 shares in the last quarter. McGlone Suttner Wealth Management Inc. increased its position in shares of American Express by 1.0% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 2,910 shares of the payment services company’s stock worth $967,000 after purchasing an additional 29 shares during the period. Walkner Condon Financial Advisors LLC raised its stake in American Express by 2.1% in the third quarter. Walkner Condon Financial Advisors LLC now owns 1,378 shares of the payment services company’s stock valued at $458,000 after purchasing an additional 29 shares in the last quarter. Sandy Cove Advisors LLC raised its stake in American Express by 2.1% in the third quarter. Sandy Cove Advisors LLC now owns 1,462 shares of the payment services company’s stock valued at $485,000 after purchasing an additional 30 shares in the last quarter. Finally, Bath Savings Trust Co lifted its position in American Express by 1.1% during the third quarter. Bath Savings Trust Co now owns 2,922 shares of the payment services company’s stock worth $971,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE:AXP opened at $356.89 on Thursday. American Express Company has a one year low of $220.43 and a one year high of $387.49. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. The company has a market cap of $245.84 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 1.51 and a beta of 1.15. The firm has a 50 day simple moving average of $369.10 and a 200 day simple moving average of $343.29.

American Express (NYSE:AXP) last posted its earnings results on Friday, January 30th. The payment services company reported ($11.85) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $18.91 billion. Research analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Friday, January 2nd will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, January 2nd. American Express’s dividend payout ratio is presently 22.01%.

Insider Buying and Selling

In other news, CMO Elizabeth Rutledge sold 50,000 shares of American Express stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the sale, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. This trade represents a 36.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Analyst Upgrades and Downgrades

AXP has been the topic of several recent analyst reports. DZ Bank raised shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 target price on the stock in a report on Tuesday, October 21st. Royal Bank Of Canada reiterated an “outperform” rating and set a $425.00 price target on shares of American Express in a research report on Monday, January 12th. Wolfe Research assumed coverage on shares of American Express in a research note on Monday, December 8th. They issued a “peer perform” rating on the stock. UBS Group set a $385.00 target price on American Express in a research note on Monday, January 12th. Finally, Credit Suisse Group set a $328.00 price target on American Express in a research note on Monday, January 12th. Nine research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $353.95.

American Express Company Profile

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.