Wellspring Financial Advisors LLC Invests $349,000 in American Express Company $AXP

Wellspring Financial Advisors LLC acquired a new stake in shares of American Express Company (NYSE:AXP) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,095 shares of the payment services company’s stock, valued at approximately $349,000.

A number of other institutional investors have also modified their holdings of AXP. Blueshift Asset Management LLC boosted its position in American Express by 42.2% during the second quarter. Blueshift Asset Management LLC now owns 3,877 shares of the payment services company’s stock valued at $1,237,000 after purchasing an additional 1,150 shares in the last quarter. OMERS ADMINISTRATION Corp increased its holdings in shares of American Express by 1.8% during the second quarter. OMERS ADMINISTRATION Corp now owns 22,800 shares of the payment services company’s stock valued at $7,273,000 after acquiring an additional 400 shares in the last quarter. Global Frontier Investments LLC purchased a new position in shares of American Express in the second quarter worth $62,908,000. Shelton Capital Management increased its position in shares of American Express by 9.3% in the 2nd quarter. Shelton Capital Management now owns 40,204 shares of the payment services company’s stock valued at $12,824,000 after acquiring an additional 3,436 shares during the period. Finally, Stablepoint Partners LLC raised its stake in shares of American Express by 3.1% in the second quarter. Stablepoint Partners LLC now owns 6,439 shares of the payment services company’s stock worth $2,054,000 after purchasing an additional 195 shares during the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other American Express news, insider Denise Pickett sold 5,000 shares of the company’s stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $350.73, for a total value of $1,753,650.00. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Elizabeth Rutledge sold 50,000 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $360.21, for a total value of $18,010,500.00. Following the sale, the chief marketing officer owned 85,577 shares in the company, valued at approximately $30,825,691.17. This trade represents a 36.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 169,787 shares of company stock worth $57,692,551. Company insiders own 0.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on AXP shares. HSBC set a $295.00 target price on shares of American Express and gave the company a “hold” rating in a research report on Friday, October 10th. Evercore ISI boosted 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. UBS Group lifted their target price on shares of American Express from $330.00 to $340.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. BTIG Research increased their price objective on American Express from $277.00 to $307.00 and gave the company a “sell” rating in a research note on Friday, October 17th. Finally, DZ Bank raised shares of American Express from a “sell” rating to a “hold” rating and set a $340.00 target price on the stock in a research note on Tuesday, October 21st. Nine equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $332.65.

American Express Stock Down 1.4%

Shares of American Express stock opened at $360.31 on Tuesday. The company has a 50 day moving average of $348.58 and a 200 day moving average of $323.56. The company has a market capitalization of $248.20 billion, a P/E ratio of 24.18, a P/E/G ratio of 1.90 and a beta of 1.27. American Express Company has a 52-week low of $220.43 and a 52-week high of $377.23. 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 data 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. The business had revenue of $17.14 billion during the quarter, compared to the consensus estimate of $18.03 billion. American Express had a net margin of 14.97% and a return on equity of 33.41%. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.49 EPS. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. As a group, research analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 10th. Stockholders of record on Friday, October 10th were issued a $0.82 dividend. The ex-dividend date of this dividend was Friday, October 10th. This represents a $3.28 annualized dividend and a dividend 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.