Long Corridor Asset Management Ltd Buys 22,000 Shares of American Express Company $AXP

Long Corridor Asset Management Ltd raised its stake in American Express Company (NYSE:AXP) by 33.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,000 shares of the payment services company’s stock after acquiring an additional 22,000 shares during the period. American Express comprises about 10.0% of Long Corridor Asset Management Ltd’s investment portfolio, making the stock its 4th largest position. Long Corridor Asset Management Ltd’s holdings in American Express were worth $27,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXP. Vanguard Group Inc. increased its position in shares of American Express by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 46,425,262 shares of the payment services company’s stock worth $14,808,730,000 after purchasing an additional 581,369 shares in the last quarter. Wellington Management Group LLP grew its stake in American Express by 13.7% during the first quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock worth $4,849,777,000 after buying an additional 2,168,445 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of American Express by 11.1% during the second quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock worth $4,282,984,000 after buying an additional 1,349,746 shares in the last quarter. Nuveen LLC bought a new position in shares of American Express in the first quarter valued at approximately $1,454,667,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of American Express by 1.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,093,807 shares of the payment services company’s stock worth $1,370,489,000 after acquiring an additional 78,538 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on AXP. Evercore ISI lifted their price objective on American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of American Express in a report on Wednesday. HSBC set a $295.00 price target on shares of American Express and gave the stock a “hold” rating in a research report on Friday, October 10th. Barclays raised 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. Finally, Morgan Stanley upped their target price on shares of American Express from $311.00 to $362.00 and gave the stock an “equal weight” rating in a research report on Monday, September 29th. Eight investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, American Express has an average rating of “Hold” and an average target price of $332.65.

Insider Activity

In other news, CMO Elizabeth Rutledge sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the chief marketing officer directly owned 85,577 shares in the company, valued at approximately $30,825,691.17. The trade was a 36.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas Tabish sold 2,515 shares of the 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 completion of the sale, the insider owned 2,515 shares in the company, valued at $894,359.15. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 193,292 shares of company stock valued at $65,363,878. Insiders own 0.20% of the company’s stock.

American Express Trading Down 0.3%

Shares of NYSE AXP opened at $343.69 on Friday. American Express Company has a fifty-two week low of $220.43 and a fifty-two week high of $377.23. The firm has a market capitalization of $236.75 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.90 and a beta of 1.27. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.61 and a quick ratio of 1.59. The company’s 50 day simple moving average is $344.86 and its 200 day simple moving average is $319.57.

American Express (NYSE:AXP) last issued its earnings results 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. The company had revenue of $17.14 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.49 EPS. 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 year.

American Express Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Friday, October 10th were paid a $0.82 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $3.28 annualized dividend and a yield of 1.0%. American Express’s dividend 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.