Connor Clark & Lunn Investment Management Ltd. Buys 103,061 Shares of American Express Company $AXP

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of American Express Company (NYSE:AXP) by 106.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 199,952 shares of the payment services company’s stock after purchasing an additional 103,061 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in American Express were worth $63,781,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AXP. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of American Express by 6.2% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,477,330 shares of the payment services company’s stock worth $471,239,000 after buying an additional 86,705 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in American Express by 5.9% in the second quarter. Parkside Financial Bank & Trust now owns 10,270 shares of the payment services company’s stock valued at $3,276,000 after acquiring an additional 574 shares during the period. Aviva PLC boosted its position in American Express by 1.0% in the second quarter. Aviva PLC now owns 448,042 shares of the payment services company’s stock worth $142,916,000 after purchasing an additional 4,421 shares during the last quarter. Prospera Financial Services Inc grew its stake in shares of American Express by 8.8% during the 2nd quarter. Prospera Financial Services Inc now owns 62,144 shares of the payment services company’s stock valued at $19,827,000 after purchasing an additional 5,045 shares during the period. Finally, Bensler LLC increased its position in shares of American Express by 4.1% during the 2nd quarter. Bensler LLC now owns 33,000 shares of the payment services company’s stock valued at $10,526,000 after purchasing an additional 1,306 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In other American Express news, insider Douglas Tabish sold 2,515 shares of the stock in a transaction dated Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total transaction of $894,359.15. Following the completion of the transaction, the insider owned 2,515 shares of the company’s stock, valued at $894,359.15. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 112,272 shares of the firm’s stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $329.86, for a total value of $37,034,041.92. Following the transaction, the chief executive officer owned 92,810 shares of the company’s stock, valued at approximately $30,614,306.60. The trade was a 54.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 193,292 shares of company stock valued at $65,363,878. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a report on Monday, July 14th. Barclays increased their price target on shares of American Express from $336.00 to $355.00 and gave the stock an “equal weight” rating in a research 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 research report on Tuesday, October 21st. Wells Fargo & Company raised their target price on American Express from $375.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, Evercore ISI boosted their price target on American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Eight analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, American Express presently has an average rating of “Hold” and a consensus price target of $332.65.

American Express Trading Up 0.9%

Shares of AXP stock opened at $368.90 on Friday. American Express Company has a 52-week low of $220.43 and a 52-week high of $370.00. 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 firm has a market capitalization of $254.12 billion, a PE ratio of 24.76, a PEG ratio of 1.90 and a beta of 1.27. The stock has a fifty day simple moving average of $339.73 and a two-hundred day simple moving average of $314.36.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 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 business had revenue of $18.43 billion for the quarter, compared to the consensus estimate of $18.03 billion. During the same period in the previous year, the business earned $3.49 earnings per share. The business’s revenue was up 11.0% on a year-over-year basis. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. On average, analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be issued 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 (DPR) is 22.01%.

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.