Mattern Capital Management LLC Has $804,000 Holdings in American Express Company $AXP

Mattern Capital Management LLC lifted its stake in American Express Company (NYSE:AXP) by 19.7% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,522 shares of the payment services company’s stock after buying an additional 415 shares during the quarter. Mattern Capital Management LLC’s holdings in American Express were worth $804,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new position in shares of American Express in the 1st quarter worth approximately $29,000. Hughes Financial Services LLC acquired a new stake in American Express during the 1st quarter valued at $35,000. 1 North Wealth Services LLC acquired a new stake in American Express during the 1st quarter valued at $37,000. IAG Wealth Partners LLC acquired a new stake in American Express during the 1st quarter valued at $40,000. Finally, PFS Partners LLC increased its holdings in American Express by 104.0% during the 1st quarter. PFS Partners LLC now owns 153 shares of the payment services company’s stock valued at $41,000 after purchasing an additional 78 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of American Express in a report on Wednesday, July 2nd. Monness Crespi & Hardt cut American Express from a “buy” rating to a “neutral” rating in a report on Tuesday, July 15th. BTIG Research set a $277.00 price target on American Express and gave the company a “sell” rating in a report on Monday, July 14th. DZ Bank cut American Express from a “hold” rating to a “sell” rating in a report on Monday, July 21st. Finally, Wells Fargo & Company raised their price target on American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $319.95.

American Express Stock Up 0.6%

NYSE:AXP opened at $330.60 on Friday. American Express Company has a 12-month low of $220.43 and a 12-month high of $349.19. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $230.06 billion, a P/E ratio of 23.20, a P/E/G ratio of 1.74 and a beta of 1.29. The stock’s fifty day simple moving average is $319.64 and its 200-day simple moving average is $297.78.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 18th. The payment services company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.86 by $0.22. The business had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a return on equity of 32.87% and a net margin of 14.78%.The firm’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $3.49 EPS. Equities research analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.0%. American Express’s payout ratio is currently 23.02%.

Insiders Place Their Bets

In other American Express news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the transaction, the insider owned 123,613 shares of the company’s stock, valued at $40,343,574.81. The trade was a 15.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anna Marrs sold 5,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $310.77, for a total value of $1,709,235.00. Following the transaction, the insider directly owned 20,311 shares in the company, valued at approximately $6,312,049.47. This trade represents a 21.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,996 shares of company stock valued at $85,261,270 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

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.