American Express Company $AXP Shares Sold by Tobam

Tobam lessened its stake in American Express Company (NYSE:AXP) by 31.3% in the second quarter, HoldingsChannel.com reports. The firm owned 662 shares of the payment services company’s stock after selling 301 shares during the quarter. Tobam’s holdings in American Express were worth $211,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in shares of American Express during the 1st quarter worth approximately $1,454,667,000. Wellington Management Group LLP increased its stake in American Express by 13.7% in the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock valued at $4,849,777,000 after purchasing an additional 2,168,445 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in American Express by 25.5% during the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after purchasing an additional 965,221 shares during the last quarter. Provident Trust Co. boosted its position in American Express by 136.6% during the second quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock worth $353,740,000 after purchasing an additional 640,214 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in American Express by 1.3% in the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock valued at $12,334,299,000 after purchasing an additional 605,900 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analysts Set New Price Targets

AXP has been the topic of several recent research reports. Wall Street Zen downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Sunday. Evercore ISI increased their target price on American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. BTIG Research boosted their price target on American Express from $277.00 to $307.00 and gave the stock a “sell” rating in a report on Friday, October 17th. UBS Group increased their price objective on American Express from $330.00 to $340.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings downgraded shares of American Express from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $332.65.

American Express Price Performance

AXP opened at $370.04 on Wednesday. The company has a 50 day moving average of $341.23 and a two-hundred day moving average of $316.19. American Express Company has a 52-week low of $220.43 and a 52-week high of $373.08. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78. The company has a market cap of $254.90 billion, a P/E ratio of 24.83, a P/E/G ratio of 1.90 and a beta of 1.27.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share (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 firm had revenue of $18.43 billion during the quarter, compared to the consensus estimate of $18.03 billion. During the same period in the prior year, the firm earned $3.49 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. On average, analysts expect that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

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

Insiders Place Their Bets

In other American Express news, CMO Elizabeth Rutledge sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $360.21, for a total value of $18,010,500.00. Following the transaction, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at $30,825,691.17. This represents a 36.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the firm’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 sale, the insider directly owned 123,613 shares of the company’s stock, valued at $40,343,574.81. The trade was a 15.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 193,292 shares of company stock valued at $65,363,878. Corporate insiders own 0.20% of the company’s stock.

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.