American Express Company $AXP Shares Sold by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators reduced its stake in shares of American Express Company (NYSE:AXP) by 23.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 487 shares of the payment services company’s stock after selling 148 shares during the period. Deseret Mutual Benefit Administrators’ holdings in American Express were worth $155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AXP. Briaud Financial Planning Inc acquired a new stake in shares of American Express during the second quarter worth $26,000. MorganRosel Wealth Management LLC acquired a new stake in shares of American Express during the first quarter worth $29,000. Hughes Financial Services LLC acquired a new stake in shares of American Express during the first quarter worth $35,000. 1 North Wealth Services LLC acquired a new stake in shares of American Express during the first quarter worth $37,000. Finally, Chung Wu Investment Group LLC acquired a new position in American Express during the second quarter valued at $37,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Laureen Seeger sold 61,721 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total value of $18,360,145.87. Following the sale, the insider directly owned 9,001 shares of the company’s stock, valued at $2,677,527.47. This represents a 87.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Denise Pickett sold 5,000 shares of the business’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the sale, the insider owned 7,726 shares of the company’s stock, valued at approximately $2,709,739.98. The trade was a 39.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 222,011 shares of company stock valued at $70,725,044 over the last quarter. 0.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AXP has been the subject of a number of research reports. Truist Financial boosted their target price on shares of American Express from $375.00 to $395.00 and gave the company a “buy” rating in a research report on Monday, October 20th. Weiss Ratings upgraded shares of American Express from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Compass Point restated a “neutral” rating and set a $324.00 target price on shares of American Express in a research report on Monday, October 20th. Wells Fargo & Company boosted their target price on shares of American Express from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Finally, DZ Bank upgraded shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 target price for the company in a research report on Tuesday, October 21st. Nine research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $332.65.

American Express Trading Down 0.1%

Shares of American Express stock opened at $361.41 on Wednesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.59 and a current ratio of 1.61. The company’s fifty day moving average is $332.81 and its two-hundred day moving average is $308.18. American Express Company has a 1 year low of $220.43 and a 1 year high of $362.84. The company has a market capitalization of $248.95 billion, a P/E ratio of 24.26, a PEG ratio of 1.92 and a beta of 1.29.

American Express (NYSE:AXP) last posted its earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, beating the consensus estimate of $3.98 by $0.16. The firm had revenue of $18.43 billion during the quarter, compared to the consensus estimate of $18.03 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

The firm also recently declared 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 payout ratio is 22.01%.

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.