American Express Company $AXP Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its position in American Express Company (NYSE:AXP) by 8.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 106,275 shares of the payment services company’s stock after selling 9,559 shares during the period. Intech Investment Management LLC’s holdings in American Express were worth $33,900,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in American Express in the 1st quarter valued at $1,454,667,000. Wellington Management Group LLP grew its position 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 valued at $4,849,777,000 after purchasing an additional 2,168,445 shares during the period. Geode Capital Management LLC increased its stake in American Express by 11.1% in the second quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock valued at $4,282,984,000 after purchasing an additional 1,349,746 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in American Express by 25.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock worth $1,278,711,000 after buying an additional 965,221 shares during the last quarter. Finally, Provident Trust Co. grew its holdings in American Express by 136.6% in the 2nd quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock valued at $353,740,000 after buying an additional 640,214 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Stock Performance

NYSE:AXP opened at $356.87 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. American Express Company has a 1-year low of $220.43 and a 1-year high of $377.23. The firm has a 50-day moving average of $343.50 and a two-hundred day moving average of $317.55. The stock has a market cap of $245.83 billion, a P/E ratio of 23.95, a PEG ratio of 1.90 and a beta of 1.27.

American Express (NYSE:AXP) last issued its quarterly earnings data 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 firm had revenue of $17.14 billion during the quarter, compared to analyst estimates of $18.03 billion. American Express had a return on equity of 33.41% and a net margin of 14.97%.American Express’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. On average, research analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Friday, October 10th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, October 10th. American Express’s dividend payout ratio (DPR) is currently 22.01%.

Insider Buying and Selling

In other news, insider Denise Pickett sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total value of $1,753,650.00. Following the sale, the insider owned 7,726 shares in the company, valued at approximately $2,709,739.98. This represents a 39.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value 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 trade represents a 54.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 193,292 shares of company stock worth $65,363,878. 0.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AXP shares. BTIG Research raised their target price on shares of American Express from $277.00 to $307.00 and gave the stock a “sell” rating in a research report on Friday, October 17th. Truist Financial lifted their price target on shares of American Express from $375.00 to $395.00 and gave the company a “buy” rating in a report on Monday, October 20th. DZ Bank upgraded 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. Deutsche Bank Aktiengesellschaft lifted their target price on American Express from $371.00 to $375.00 and gave the company a “buy” rating in a report on Monday, July 21st. Finally, Compass Point restated a “neutral” rating and issued a $324.00 price objective on shares of American Express in a report on Monday, October 20th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $332.65.

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.