New York Life Investment Management LLC Purchases 764 Shares of American Express Company $AXP

New York Life Investment Management LLC increased its position in shares of American Express Company (NYSE:AXP) by 0.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 82,883 shares of the payment services company’s stock after acquiring an additional 764 shares during the quarter. New York Life Investment Management LLC’s holdings in American Express were worth $26,438,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AXP. Nuveen LLC bought a new stake in American Express during the first quarter worth about $1,454,667,000. Wellington Management Group LLP lifted its holdings in shares of American Express by 13.7% in the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock worth $4,849,777,000 after acquiring an additional 2,168,445 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of American Express by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after acquiring an additional 965,221 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of American Express by 1.3% in the first quarter. Vanguard Group Inc. now owns 45,843,893 shares of the payment services company’s stock worth $12,334,299,000 after acquiring an additional 605,900 shares during the last quarter. Finally, Provident Trust Co. bought a new position in shares of American Express in the first quarter worth about $126,119,000. Institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AXP shares. Evercore ISI increased their target price on shares of American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Wells Fargo & Company increased their target price on shares of American Express from $375.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Monness Crespi & Hardt cut shares of American Express from a “buy” rating to a “neutral” rating in a report on Tuesday, July 15th. Barclays increased their target price on shares of American Express from $336.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. Finally, UBS Group upped their price objective on American Express from $330.00 to $340.00 and gave the company a “neutral” rating in a research note on Tuesday, October 7th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, American Express presently has an average rating of “Hold” and an average price target of $332.65.

American Express Stock Performance

American Express stock opened at $361.49 on Tuesday. The business has a 50 day moving average of $331.71 and a 200-day moving average of $307.38. American Express Company has a 1 year low of $220.43 and a 1 year high of $362.84. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. The company has a market capitalization of $249.01 billion, a P/E ratio of 24.26, a P/E/G ratio of 1.86 and a beta of 1.29.

American Express (NYSE:AXP) last released 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 return on equity of 33.41% and a net margin of 14.97%.The company had revenue of $18.43 billion during the quarter, compared to the consensus estimate of $18.03 billion. During the same quarter in the prior year, the firm posted $3.49 earnings per share. The firm’s 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, equities research analysts predict that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

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

Insider Buying and Selling at American Express

In other American Express news, CEO Stephen J. Squeri sold 112,272 shares of the 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 sale, the chief executive officer owned 92,810 shares of the company’s stock, valued at approximately $30,614,306.60. This represents a 54.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 123,613 shares of the company’s stock, valued at $40,343,574.81. This represents a 15.98% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,011 shares of company stock worth $70,725,044. Company insiders own 0.20% of the company’s stock.

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.