TD Waterhouse Canada Inc. Sells 13,335 Shares of American Express Company $AXP

TD Waterhouse Canada Inc. lowered its holdings in shares of American Express Company (NYSE:AXP) by 13.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 85,361 shares of the payment services company’s stock after selling 13,335 shares during the period. TD Waterhouse Canada Inc.’s holdings in American Express were worth $27,536,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new position in shares of American Express during the first quarter worth approximately $509,000. Nordea Investment Management AB increased its position in 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 worth $721,525,000 after buying an additional 49,593 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of American Express by 6.6% during the first quarter. Mackenzie Financial Corp now owns 60,634 shares of the payment services company’s stock worth $16,314,000 after buying an additional 3,776 shares in the last quarter. Dempze Nancy E grew its stake in shares of American Express by 210.2% in the second quarter. Dempze Nancy E now owns 3,459 shares of the payment services company’s stock valued at $1,103,000 after acquiring an additional 2,344 shares in the last quarter. Finally, Reliant Investment Management LLC raised its stake in American Express by 1.9% in the 2nd quarter. Reliant Investment Management LLC now owns 26,189 shares of the payment services company’s stock worth $8,354,000 after purchasing an additional 480 shares in the last quarter. 84.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on AXP. Truist Financial raised their price objective on American Express from $375.00 to $395.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. UBS Group increased their target price on American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. boosted their price target on American Express from $343.00 to $355.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Wall Street Zen cut shares of American Express from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Finally, Wells Fargo & Company raised their target price on shares of American Express from $375.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $332.65.

American Express Stock Performance

NYSE:AXP opened at $340.63 on Wednesday. American Express Company has a twelve month low of $220.43 and a twelve month high of $377.23. 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 stock’s 50-day simple moving average is $344.15 and its 200 day simple moving average is $319.23. The firm has a market capitalization of $234.64 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 1.90 and a beta of 1.27.

American Express (NYSE:AXP) last posted its earnings results on Friday, October 17th. The payment services company reported $4.14 EPS for the quarter, topping analysts’ consensus estimates of $3.98 by $0.16. American Express had a net margin of 14.97% and a return on equity of 33.41%. The firm had revenue of $17.14 billion during the quarter, compared to analysts’ expectations of $18.03 billion. During the same quarter in the prior year, the business earned $3.49 earnings per share. The business’s revenue for the quarter 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 anticipate that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Friday, October 10th were given a $0.82 dividend. The ex-dividend date was Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a yield of 1.0%. American Express’s dividend payout ratio (DPR) is currently 22.01%.

Insider Activity

In other news, insider Denise Pickett sold 5,000 shares of the company’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the completion of the transaction, the insider directly owned 7,726 shares in the company, valued at approximately $2,709,739.98. This represents a 39.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 193,292 shares of company stock valued at $65,363,878. 0.20% of the stock is currently owned by insiders.

American Express 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.