EPG Wealth Management LLC Sells 391 Shares of American Express Company $AXP

EPG Wealth Management LLC cut its position in American Express Company (NYSE:AXP) by 28.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 970 shares of the payment services company’s stock after selling 391 shares during the quarter. EPG Wealth Management LLC’s holdings in American Express were worth $310,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of American Express during the 1st quarter valued at $509,000. U.S. Capital Wealth Advisors LLC raised its stake in shares of American Express by 15.8% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 8,787 shares of the payment services company’s stock valued at $2,364,000 after purchasing an additional 1,199 shares during the period. Mackenzie Financial Corp raised its stake in shares of American Express by 6.6% during the 1st quarter. Mackenzie Financial Corp now owns 60,634 shares of the payment services company’s stock valued at $16,314,000 after purchasing an additional 3,776 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of American Express by 7.9% during the 1st quarter. Crossmark Global Holdings Inc. now owns 107,499 shares of the payment services company’s stock valued at $28,923,000 after purchasing an additional 7,874 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of American Express by 2.2% during the 2nd quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock valued at $721,525,000 after purchasing an additional 49,593 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AXP. Royal Bank Of Canada reiterated an “outperform” rating on shares of American Express in a research note on Monday, July 14th. Compass Point restated a “neutral” rating and issued a $324.00 target price on shares of American Express in a research note on Monday, October 20th. Morgan Stanley upped their target price on American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Truist Financial upped their target price on American Express from $375.00 to $395.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Finally, BTIG Research upped their target price on American Express from $277.00 to $307.00 and gave the stock a “sell” rating in a research note on Friday, October 17th. Nine analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $332.65.

Insider Activity

In other news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction dated 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 directly owned 123,613 shares in the company, valued at approximately $40,343,574.81. This represents a 15.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas Tabish sold 2,515 shares of the stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total value of $894,359.15. Following the sale, the insider owned 2,515 shares of the company’s stock, valued at $894,359.15. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 160,290 shares of company stock worth $52,364,898. 0.20% of the stock is currently owned by insiders.

American Express Price Performance

Shares of American Express stock opened at $361.47 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $249.00 billion, a PE ratio of 24.26, a price-to-earnings-growth ratio of 1.90 and a beta of 1.29. The business’s 50-day moving average price is $336.56 and its 200-day moving average price is $311.54. American Express Company has a 12 month low of $220.43 and a 12 month high of $365.75.

American Express (NYSE:AXP) last announced its quarterly earnings data 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. The firm had revenue of $18.43 billion for the quarter, compared to analyst estimates of $18.03 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%.The company’s revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the company earned $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Sell-side analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

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

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.