American Express Company $AXP Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC trimmed its holdings in shares of American Express Company (NYSE:AXP) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,152 shares of the payment services company’s stock after selling 45 shares during the quarter. Convergence Investment Partners LLC’s holdings in American Express were worth $367,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of American Express by 5.5% during the 1st quarter. Principal Financial Group Inc. now owns 680,308 shares of the payment services company’s stock worth $183,037,000 after buying an additional 35,295 shares during the period. Pinnacle Financial Partners Inc raised its stake in shares of American Express by 1.4% during the 1st quarter. Pinnacle Financial Partners Inc now owns 167,534 shares of the payment services company’s stock worth $45,243,000 after buying an additional 2,259 shares during the period. R Squared Ltd acquired a new position in shares of American Express during the 1st quarter worth approximately $509,000. U.S. Capital Wealth Advisors LLC increased its position in shares of American Express by 15.8% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 8,787 shares of the payment services company’s stock worth $2,364,000 after purchasing an additional 1,199 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. increased its position in shares of American Express by 7.7% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 12,630 shares of the payment services company’s stock worth $3,398,000 after purchasing an additional 900 shares in the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Denise Pickett sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total value of $1,753,650.00. Following the transaction, the insider owned 7,726 shares of the company’s stock, valued at $2,709,739.98. This represents a 39.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of the company’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total value of $37,034,041.92. Following the completion of the transaction, the chief executive officer directly owned 92,810 shares in the company, valued at approximately $30,614,306.60. This trade represents a 54.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 222,011 shares of company stock worth $70,725,044. Corporate insiders own 0.20% of the company’s stock.

American Express Stock Up 1.1%

Shares of NYSE:AXP opened at $361.49 on Tuesday. American Express Company has a 52-week low of $220.43 and a 52-week high of $362.84. The business has a fifty day moving average of $331.71 and a two-hundred day moving average of $307.38. The stock has a market cap of $249.01 billion, a P/E ratio of 24.26, a PEG ratio of 1.86 and a beta of 1.29. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 EPS for the quarter, beating the consensus estimate of $3.98 by $0.16. American Express had a return on equity of 33.41% and a net margin of 14.97%.The business had revenue of $18.43 billion for the quarter, compared to analyst estimates of $18.03 billion. During the same quarter in the prior year, the company posted $3.49 EPS. The company’s quarterly revenue was up 11.0% on a year-over-year basis. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. On average, research analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 10th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, October 10th. American Express’s dividend payout ratio is 22.01%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. DZ Bank upgraded American Express from a “sell” rating to a “hold” rating and set a $340.00 price target for the company in a research report on Tuesday, October 21st. Barclays boosted their price target on American Express from $336.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Wells Fargo & Company boosted their price target on American Express from $375.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, HSBC set a $295.00 target price on American Express and gave the company a “hold” rating in a report on Friday, October 10th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $332.65.

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.