American Express Company $AXP Shares Sold by Flossbach Von Storch SE

Flossbach Von Storch SE lessened its holdings in shares of American Express Company (NYSE:AXP) by 22.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,505 shares of the payment services company’s stock after selling 22,487 shares during the quarter. Flossbach Von Storch SE’s holdings in American Express were worth $24,723,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AXP. Mirabaud Asset Management Ltd grew its stake in American Express by 25.2% during the 2nd quarter. Mirabaud Asset Management Ltd now owns 27,364 shares of the payment services company’s stock valued at $8,680,000 after acquiring an additional 5,506 shares in the last quarter. Brio Consultants LLC purchased a new position in American Express in the 2nd quarter worth approximately $203,000. CSM Advisors LLC boosted its holdings in shares of American Express by 4.2% during the 2nd quarter. CSM Advisors LLC now owns 19,640 shares of the payment services company’s stock worth $6,264,000 after purchasing an additional 790 shares during the last quarter. Sound View Wealth Advisors Group LLC boosted its holdings in shares of American Express by 17.1% during the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 13,157 shares of the payment services company’s stock worth $4,197,000 after purchasing an additional 1,923 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of American Express by 106.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 199,952 shares of the payment services company’s stock valued at $63,781,000 after purchasing an additional 103,061 shares in the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

American Express Stock Up 0.9%

Shares of AXP opened at $368.90 on Friday. The company’s 50-day moving average price is $339.73 and its 200 day moving average price is $314.36. American Express Company has a 12-month low of $220.43 and a 12-month high of $370.00. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78. The firm has a market cap of $254.12 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 1.90 and a beta of 1.27.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share 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 business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last 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, sell-side analysts forecast that American Express Company will post 15.33 earnings per share for the current year.

American Express Dividend Announcement

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 $0.82 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. American Express’s payout ratio is presently 22.01%.

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of recent research reports. Truist Financial boosted their price objective on American Express from $375.00 to $395.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Barclays lifted their price target on American Express from $336.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. DZ Bank raised shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 price objective for the company in a report on Tuesday, October 21st. JPMorgan Chase & Co. raised their price objective on shares of American Express from $343.00 to $355.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Finally, BTIG Research boosted their target price on shares of American Express from $277.00 to $307.00 and gave the company a “sell” rating in a report on Friday, October 17th. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and a consensus price target of $332.65.

Insider Buying and Selling

In other American Express news, CEO Stephen J. Squeri sold 112,272 shares of the company’s stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the transaction, the chief executive officer directly owned 92,810 shares in the company, valued at $30,614,306.60. This represents a 54.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas Tabish sold 2,515 shares of American Express stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total value of $894,359.15. Following the completion of the sale, the insider directly owned 2,515 shares of the company’s stock, valued at $894,359.15. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 193,292 shares of company stock valued at $65,363,878 over the last quarter. 0.20% of the stock is owned by corporate insiders.

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.