American Express Company $AXP Shares Acquired by Pinnacle Wealth Management LLC

Pinnacle Wealth Management LLC raised its stake in shares of American Express Company (NYSE:AXP) by 608.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,890 shares of the payment services company’s stock after buying an additional 7,635 shares during the quarter. American Express comprises about 2.4% of Pinnacle Wealth Management LLC’s investment portfolio, making the stock its 13th biggest position. Pinnacle Wealth Management LLC’s holdings in American Express were worth $2,836,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new stake in shares of American Express in the first quarter valued at $29,000. Hughes Financial Services LLC acquired a new stake in American Express during the first quarter worth approximately $35,000. 1 North Wealth Services LLC purchased a new stake in American Express in the 1st quarter worth approximately $37,000. Chung Wu Investment Group LLC acquired a new position in American Express in the 2nd quarter valued at $37,000. Finally, Abound Financial LLC acquired a new position in American Express in the 1st quarter valued at $41,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Stock Up 7.2%

Shares of NYSE AXP opened at $346.45 on Friday. American Express Company has a 52-week low of $220.43 and a 52-week high of $349.19. The firm has a fifty day moving average of $325.64 and a 200-day moving average of $302.28. The stock has a market capitalization of $241.09 billion, a PE ratio of 23.25, a P/E/G ratio of 1.82 and a beta of 1.29. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80.

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, beating the consensus estimate of $3.98 by $0.16. American Express had a net margin of 14.78% and a return on equity of 32.87%. The company had revenue of $18.43 billion during the quarter, compared to analysts’ expectations of $18.03 billion. During the same period in the previous year, the company earned $3.49 EPS. The business’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 anticipate that American Express Company will post 15.33 EPS for the current year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be issued 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 payout ratio is presently 23.02%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AXP. Barclays boosted their price target on American Express from $297.00 to $336.00 and gave the company a “cautious” rating in a report on Monday, October 6th. Monness Crespi & Hardt downgraded American Express from a “buy” rating to a “neutral” rating in a report on Tuesday, July 15th. Wells Fargo & Company boosted their price target on American Express from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, September 5th. UBS Group boosted their price target on American Express from $330.00 to $340.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on American Express from $371.00 to $375.00 and gave the company a “buy” rating in a report on Monday, July 21st. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, American Express currently has a consensus rating of “Hold” and an average price target of $323.60.

Insider Buying and Selling at American Express

In related news, insider Laureen Seeger sold 61,721 shares of American Express stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the transaction, the insider owned 9,001 shares in the company, valued at approximately $2,677,527.47. The trade was a 87.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of American Express stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $326.37, for a total transaction of $7,671,326.85. Following the transaction, the insider owned 123,613 shares in the company, valued at $40,343,574.81. The trade was a 15.98% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 269,996 shares of company stock worth $85,261,270. 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.