Fusion Capital LLC Buys Shares of 656 American Express Company $AXP

Fusion Capital LLC bought a new position in American Express Company (NYSE:AXP) in the second quarter, Holdings Channel.com reports. The institutional investor bought 656 shares of the payment services company’s stock, valued at approximately $209,000.

A number of other institutional investors have also modified their holdings of the company. Creative Planning grew its position in shares of American Express by 3.7% in the 2nd quarter. Creative Planning now owns 190,342 shares of the payment services company’s stock worth $60,715,000 after buying an additional 6,807 shares during the last quarter. Meridian Wealth Management LLC lifted its position in American Express by 8.7% during the second quarter. Meridian Wealth Management LLC now owns 4,397 shares of the payment services company’s stock valued at $1,403,000 after acquiring an additional 353 shares during the last quarter. Opinicus Capital Inc. boosted its stake in American Express by 27.4% in the second quarter. Opinicus Capital Inc. now owns 1,172 shares of the payment services company’s stock valued at $374,000 after acquiring an additional 252 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in American Express by 6.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 135,740 shares of the payment services company’s stock worth $43,298,000 after purchasing an additional 8,819 shares during the last quarter. Finally, Foundations Investment Advisors LLC increased its position in shares of American Express by 18.1% during the second quarter. Foundations Investment Advisors LLC now owns 18,619 shares of the payment services company’s stock worth $5,939,000 after purchasing an additional 2,849 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

American Express Stock Down 2.2%

American Express stock opened at $356.87 on Friday. The business’s 50-day simple moving average is $343.50 and its two-hundred day simple moving average is $317.55. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61. The company has a market cap of $245.83 billion, a PE ratio of 23.95, a PEG ratio of 1.90 and a beta of 1.27. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $377.23.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.98 by $0.16. The firm had revenue of $17.14 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the business posted $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Equities analysts anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Denise Pickett sold 5,000 shares of the stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total value of $1,753,650.00. Following the sale, the insider owned 7,726 shares in the company, valued at $2,709,739.98. This represents a 39.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen J. Squeri sold 112,272 shares of the business’s stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the transaction, the chief executive officer owned 92,810 shares of the company’s stock, valued at $30,614,306.60. This represents a 54.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 193,292 shares of company stock worth $65,363,878. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

AXP has been the subject of a number of recent analyst reports. DZ Bank raised American Express from a “sell” rating to a “hold” rating and set a $340.00 price objective for the company in a research report on Tuesday, October 21st. Keefe, Bruyette & Woods increased their price target on American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of American Express in a report on Thursday. Evercore ISI upped their price objective on shares of American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Finally, Truist Financial increased their price objective on shares of American Express from $375.00 to $395.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $332.65.

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.