Rhumbline Advisers Reduces Stock Position in American Express Company $AXP

Rhumbline Advisers cut its stake in American Express Company (NYSE:AXP) by 2.6% in the second quarter, HoldingsChannel.com reports. The fund owned 1,053,715 shares of the payment services company’s stock after selling 28,052 shares during the period. Rhumbline Advisers’ holdings in American Express were worth $336,114,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AXP. AlphaCore Capital LLC boosted its holdings in American Express by 78.6% in the second quarter. AlphaCore Capital LLC now owns 2,102 shares of the payment services company’s stock worth $670,000 after purchasing an additional 925 shares during the last quarter. Mufg Securities Americas Inc. lifted its holdings in shares of American Express by 24.9% during the 2nd quarter. Mufg Securities Americas Inc. now owns 12,266 shares of the payment services company’s stock valued at $3,913,000 after buying an additional 2,442 shares during the period. Evelyn Partners Investment Management LLP boosted its stake in shares of American Express by 1,291.7% in the 2nd quarter. Evelyn Partners Investment Management LLP now owns 6,541 shares of the payment services company’s stock worth $2,086,000 after buying an additional 6,071 shares during the last quarter. Journey Strategic Wealth LLC grew its holdings in shares of American Express by 6.8% in the second quarter. Journey Strategic Wealth LLC now owns 18,580 shares of the payment services company’s stock worth $5,927,000 after acquiring an additional 1,179 shares during the period. Finally, CFC Planning Co LLC increased its position in American Express by 13.8% during the second quarter. CFC Planning Co LLC now owns 17,319 shares of the payment services company’s stock valued at $5,525,000 after acquiring an additional 2,099 shares during the last quarter. Institutional investors own 84.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AXP shares. Compass Point reissued a “neutral” rating and issued a $324.00 target price on shares of American Express in a research report on Monday, October 20th. Wall Street Zen downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Evercore ISI upped their target price on shares of American Express from $330.00 to $365.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Barclays lifted 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 note on Monday, October 20th. Finally, BTIG Research upped their price objective on American Express from $277.00 to $307.00 and gave the stock a “sell” rating in a research note on Friday, October 17th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, American Express has a consensus rating of “Hold” and an average target price of $332.65.

American Express Price Performance

Shares of NYSE:AXP opened at $352.95 on Friday. The company has a market capitalization of $243.13 billion, a P/E ratio of 23.69, a P/E/G ratio of 1.90 and a beta of 1.27. American Express Company has a 1-year low of $220.43 and a 1-year high of $377.23. The firm’s 50 day simple moving average is $345.41 and its two-hundred day simple moving average is $320.09. 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 (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 net margin of 14.97% and a return on equity of 33.41%. The firm had revenue of $17.14 billion for the quarter, compared to the consensus estimate of $18.03 billion. During the same period last year, the firm earned $3.49 EPS. The company’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. Research analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, October 10th. This represents a $3.28 dividend on an annualized basis and a yield of 0.9%. American Express’s dividend payout ratio (DPR) is currently 22.01%.

Insiders Place Their Bets

In other news, insider Denise Pickett sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total value of $1,753,650.00. Following the completion of the transaction, the insider owned 7,726 shares of the company’s stock, valued at $2,709,739.98. This represents a 39.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction dated 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 sale, the insider owned 123,613 shares of the company’s stock, valued at $40,343,574.81. This represents a 15.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 193,292 shares of company stock valued at $65,363,878. Insiders own 0.20% of the company’s stock.

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.