iA Global Asset Management Inc. Acquires New Position in American Express Company $AXP

iA Global Asset Management Inc. acquired a new stake in shares of American Express Company (NYSE:AXP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 950 shares of the payment services company’s stock, valued at approximately $303,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its stake in American Express by 24.4% in the 4th quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after purchasing an additional 1,273 shares during the period. World Investment Advisors increased its stake in American Express by 9.2% in the 1st quarter. World Investment Advisors now owns 6,615 shares of the payment services company’s stock worth $1,780,000 after purchasing an additional 558 shares during the period. Capital Advisors Inc. OK increased its stake in American Express by 3.2% in the 1st quarter. Capital Advisors Inc. OK now owns 2,084 shares of the payment services company’s stock worth $561,000 after purchasing an additional 65 shares during the period. Callan Capital LLC increased its position in shares of American Express by 20.8% in the first quarter. Callan Capital LLC now owns 1,770 shares of the payment services company’s stock valued at $476,000 after acquiring an additional 305 shares during the period. Finally, U.S. Capital Wealth Advisors LLC increased its position in shares of American Express by 15.8% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 8,787 shares of the payment services company’s stock valued at $2,364,000 after acquiring an additional 1,199 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American Express

In other news, 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 value of $18,010,500.00. Following the sale, the chief marketing officer directly owned 85,577 shares of the company’s stock, valued at approximately $30,825,691.17. This represents a 36.88% 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, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the completion of the sale, the insider directly owned 123,613 shares in the company, valued at approximately $40,343,574.81. This represents a 15.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 193,292 shares of company stock valued at $65,363,878 over the last three months. 0.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

AXP has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of American Express from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays boosted their price objective on shares of American Express from $336.00 to $355.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Keefe, Bruyette & Woods boosted their target price on American Express from $371.00 to $394.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. 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. Finally, Truist Financial boosted their target price on American Express from $375.00 to $395.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Nine equities 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $332.65.

American Express Price Performance

Shares of AXP stock opened at $360.39 on Wednesday. The stock has a market cap of $248.25 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.90 and a beta of 1.29. The business’s fifty day moving average is $337.35 and its 200 day moving average is $312.31. American Express Company has a twelve month low of $220.43 and a twelve month high of $365.75. The company has a quick ratio of 1.59, a current ratio of 1.61 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, topping 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 company had revenue of $18.43 billion for the quarter, compared to analysts’ expectations of $18.03 billion. During the same period in the prior year, the firm earned $3.49 earnings per share. The firm’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. Research analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 10th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 annualized dividend and a yield of 0.9%. American Express’s payout ratio is presently 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.