Prudential PLC Grows Holdings in American Express Company $AXP

Prudential PLC raised its stake in American Express Company (NYSE:AXP) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,271 shares of the payment services company’s stock after buying an additional 572 shares during the period. Prudential PLC’s holdings in American Express were worth $24,967,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in American Express in the first quarter worth approximately $509,000. Nordea Investment Management AB raised its stake in shares of American Express by 2.2% during the second quarter. Nordea Investment Management AB now owns 2,267,377 shares of the payment services company’s stock worth $721,525,000 after acquiring an additional 49,593 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of American Express by 6.6% in the 1st quarter. Mackenzie Financial Corp now owns 60,634 shares of the payment services company’s stock worth $16,314,000 after acquiring an additional 3,776 shares during the last quarter. Dempze Nancy E boosted its stake in shares of American Express by 210.2% in the 2nd quarter. Dempze Nancy E now owns 3,459 shares of the payment services company’s stock valued at $1,103,000 after purchasing an additional 2,344 shares in the last quarter. Finally, Reliant Investment Management LLC grew its holdings in shares of American Express by 1.9% during the 2nd quarter. Reliant Investment Management LLC now owns 26,189 shares of the payment services company’s stock valued at $8,354,000 after purchasing an additional 480 shares during the last quarter. 84.33% of the stock is owned by institutional investors.

Insider Buying and Selling at American Express

In other American Express news, CMO Elizabeth Rutledge sold 50,000 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $360.21, for a total value of $18,010,500.00. Following the completion of the transaction, the chief marketing officer directly owned 85,577 shares in the company, valued at approximately $30,825,691.17. This represents a 36.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Denise Pickett sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the completion of the sale, the insider directly owned 7,726 shares of the company’s stock, valued at approximately $2,709,739.98. This represents a 39.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 193,292 shares of company stock worth $65,363,878. 0.20% of the stock is owned by corporate insiders.

American Express Stock Up 1.2%

NYSE AXP opened at $344.77 on Thursday. American Express Company has a 1 year low of $220.43 and a 1 year high of $377.23. The stock has a market capitalization of $237.50 billion, a PE ratio of 23.14, a PEG ratio of 1.90 and a beta of 1.27. 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 business’s 50-day moving average is $344.58 and its 200 day moving average is $319.40.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, topping the consensus estimate of $3.98 by $0.16. The business had revenue of $17.14 billion during the quarter, compared to analysts’ expectations of $18.03 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%.The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the business posted $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Sell-side analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Friday, October 10th were issued a $0.82 dividend. The ex-dividend date was Friday, October 10th. This represents a $3.28 annualized dividend and a yield of 1.0%. American Express’s payout ratio is 22.01%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AXP shares. Morgan Stanley boosted their price target on shares of American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Barclays raised their price objective on American Express from $336.00 to $355.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. Compass Point reissued a “neutral” rating and issued a $324.00 target price on shares of American Express in a research note on Monday, October 20th. Wall Street Zen cut American Express from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Finally, BTIG Research raised their price target on American Express from $277.00 to $307.00 and gave the stock a “sell” rating in a research report on Friday, October 17th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, American Express presently has an average rating of “Hold” and an average target price of $332.65.

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.