FLC Capital Advisors Reduces Position in American Express Company $AXP

FLC Capital Advisors lessened its stake in shares of American Express Company (NYSE:AXP) by 17.2% during the 2nd quarter, Holdings Channel reports. The firm owned 956 shares of the payment services company’s stock after selling 199 shares during the quarter. FLC Capital Advisors’ holdings in American Express were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in shares of American Express in the 1st quarter valued at $1,454,667,000. Wellington Management Group LLP boosted its holdings in shares of 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 acquiring an additional 2,168,445 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of American Express by 25.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock valued at $1,278,711,000 after purchasing an additional 965,221 shares during the period. Vanguard Group Inc. lifted its stake in shares of American Express by 1.3% in the 1st 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 period. Finally, Provident Trust Co. acquired a new position in shares of American Express in the 1st quarter valued at $126,119,000. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Price Performance

Shares of NYSE AXP opened at $346.45 on Monday. The firm has a 50-day simple moving average of $325.64 and a 200-day simple moving average of $302.66. The stock has a market capitalization of $241.09 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 1.81 and a beta of 1.29. The company has a quick ratio of 1.69, a current ratio of 1.71 and a debt-to-equity ratio of 1.78. American Express Company has a 52 week low of $220.43 and a 52 week high of $349.19.

American Express (NYSE:AXP) last issued its earnings results on Friday, October 17th. The payment services company reported $4.14 EPS for the quarter, beating analysts’ consensus estimates of $3.98 by $0.16. The business had revenue of $18.43 billion during the quarter, compared to analysts’ expectations of $18.03 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.49 earnings per share. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. On average, equities analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

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

Insiders Place Their Bets

In other news, insider Laureen Seeger sold 16,998 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $294.83, for a total value of $5,011,520.34. Following the completion of the sale, the insider directly owned 9,001 shares in the company, valued at $2,653,764.83. This represents a 65.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anna Marrs sold 5,500 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total transaction of $1,709,235.00. Following the completion of the sale, the insider owned 20,311 shares of the company’s stock, valued at $6,312,049.47. This trade represents a 21.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 269,996 shares of company stock valued at $85,261,270. Corporate insiders own 0.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of American Express from $371.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, July 21st. Evercore ISI boosted their target price on shares of American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. UBS Group upped their price objective on shares of American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Finally, Wells Fargo & Company upped their price objective on shares of American Express from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, September 5th. Nine investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $323.60.

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.