Whittier Trust Co. Sells 374 Shares of American Express Company $AXP

Whittier Trust Co. decreased its holdings in American Express Company (NYSE:AXP) by 0.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 68,344 shares of the payment services company’s stock after selling 374 shares during the quarter. Whittier Trust Co.’s holdings in American Express were worth $21,800,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Maj Invest Holding A S lifted its position in American Express by 17.7% in the 2nd quarter. Maj Invest Holding A S now owns 518,279 shares of the payment services company’s stock valued at $165,321,000 after acquiring an additional 78,058 shares in the last quarter. Klingman & Associates LLC lifted its position in American Express by 107.5% in the 2nd quarter. Klingman & Associates LLC now owns 1,724 shares of the payment services company’s stock valued at $550,000 after acquiring an additional 893 shares in the last quarter. Pittenger & Anderson Inc. lifted its position in American Express by 903.6% in the 2nd quarter. Pittenger & Anderson Inc. now owns 21,658 shares of the payment services company’s stock valued at $6,908,000 after acquiring an additional 19,500 shares in the last quarter. Phoenix Financial Ltd. lifted its position in shares of American Express by 121.9% during the 2nd quarter. Phoenix Financial Ltd. now owns 1,891 shares of the payment services company’s stock worth $603,000 after buying an additional 1,039 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC lifted its position in shares of American Express by 16.7% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 2,256 shares of the payment services company’s stock worth $720,000 after buying an additional 323 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Insiders Place Their Bets

In related news, insider Anna Marrs sold 5,500 shares of American Express stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $310.77, for a total value of $1,709,235.00. Following the completion of the transaction, the insider directly owned 20,311 shares in the company, valued at approximately $6,312,049.47. The trade was a 21.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction that occurred 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 completion of 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 can be found here. Insiders sold 269,996 shares of company stock worth $85,261,270 in the last three months. Insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on AXP. DZ Bank cut shares of American Express from a “hold” rating to a “sell” rating in a research report on Monday, July 21st. HSBC set a $295.00 target price on shares of American Express and gave the stock a “hold” rating in a research report on Friday, October 10th. Monness Crespi & Hardt cut shares of American Express from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 15th. Citigroup reissued a “neutral” rating and set a $327.00 target price (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Finally, Barclays lifted their target price on shares of American Express from $336.00 to $355.00 and gave the stock an “equal weight” rating in a research report on Monday. Nine investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, American Express presently has an average rating of “Hold” and a consensus price target of $332.26.

American Express Trading Up 0.7%

Shares of AXP stock opened at $349.21 on Tuesday. The company has a 50 day moving average of $326.69 and a 200-day moving average of $303.47. 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 12-month low of $220.43 and a 12-month high of $350.22. The firm has a market cap of $243.01 billion, a P/E ratio of 23.44, a PEG ratio of 1.81 and a beta of 1.29.

American Express (NYSE:AXP) last issued its quarterly earnings results 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. American Express had a net margin of 14.97% and a return on equity of 33.41%. The company had revenue of $18.43 billion during the quarter, compared to analyst estimates of $18.03 billion. During the same quarter last year, the business posted $3.49 EPS. American Express’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. Sell-side analysts anticipate that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

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

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.