Hodges Capital Management Inc. Trims Holdings in American Express Company $AXP

Hodges Capital Management Inc. lowered its holdings in American Express Company (NYSE:AXP) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 15,664 shares of the payment services company’s stock after selling 217 shares during the quarter. Hodges Capital Management Inc.’s holdings in American Express were worth $4,997,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Access Investment Management LLC bought a new stake in American Express in the second quarter valued at $26,000. Briaud Financial Planning Inc purchased a new stake in shares of American Express in the 2nd quarter worth about $26,000. Chung Wu Investment Group LLC bought a new stake in shares of American Express during the 2nd quarter valued at about $37,000. Solstein Capital LLC purchased a new position in shares of American Express during the second quarter valued at about $39,000. Finally, Hughes Financial Services LLC bought a new position in American Express in the first quarter worth about $35,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

American Express Stock Up 0.9%

American Express stock opened at $368.90 on Monday. American Express Company has a 12 month low of $220.43 and a 12 month high of $370.00. The stock has a fifty day simple moving average of $339.73 and a two-hundred day simple moving average of $314.74. 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 price-to-earnings ratio of 24.76, a PEG 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 EPS for the quarter, topping analysts’ consensus estimates of $3.98 by $0.16. American Express had a net margin of 14.97% and a return on equity of 33.41%. The firm had revenue of $18.43 billion during the quarter, compared to analyst estimates of $18.03 billion. During the same period in the previous year, the business posted $3.49 earnings per share. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Equities analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be issued a $0.82 dividend. 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 currently 22.01%.

Insider Activity at American Express

In other American Express news, insider Douglas Tabish sold 2,515 shares of American Express stock in a transaction that occurred on Thursday, October 23rd. The shares were sold at an average price of $355.61, for a total transaction of $894,359.15. Following the transaction, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Elizabeth Rutledge sold 50,000 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $360.21, for a total transaction of $18,010,500.00. Following the completion of the sale, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. This trade represents a 36.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 193,292 shares of company stock valued at $65,363,878 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AXP shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of American Express in a research report on Monday, July 14th. HSBC set a $295.00 target price on American Express and gave the company a “hold” rating in a research note on Friday, October 10th. Compass Point reiterated a “neutral” rating and issued a $324.00 price objective on shares of American Express in a report on Monday, October 20th. Wall Street Zen lowered American Express from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Weiss Ratings cut shares of American Express from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, American Express has an average rating of “Hold” and a consensus price target 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.