Westpac Banking Corp Has $1.33 Million Stock Holdings in American Express Company $AXP

Westpac Banking Corp trimmed its position in shares of American Express Company (NYSE:AXP) by 14.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,180 shares of the payment services company’s stock after selling 730 shares during the quarter. Westpac Banking Corp’s holdings in American Express were worth $1,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Integrated Quantitative Investments LLC bought a new stake in shares of American Express during the 2nd quarter worth $737,000. Western Wealth Management LLC grew its position in American Express by 5.0% during the second quarter. Western Wealth Management LLC now owns 8,473 shares of the payment services company’s stock worth $2,703,000 after buying an additional 405 shares in the last quarter. Tortoise Investment Management LLC increased its position in shares of American Express by 39.0% during the second quarter. Tortoise Investment Management LLC now owns 1,409 shares of the payment services company’s stock valued at $449,000 after purchasing an additional 395 shares during the period. Kingsview Wealth Management LLC increased its holdings in American Express by 0.9% in the 2nd quarter. Kingsview Wealth Management LLC now owns 24,417 shares of the payment services company’s stock valued at $7,788,000 after buying an additional 226 shares during the period. Finally, Cornerstone Advisors LLC increased its stake in American Express by 13.8% in the second quarter. Cornerstone Advisors LLC now owns 36,200 shares of the payment services company’s stock valued at $11,547,000 after acquiring an additional 4,400 shares during the period. 84.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on AXP. HSBC set a $295.00 price objective on American Express and gave the stock 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 research report on Monday, October 20th. BTIG Research upped their price target on American Express from $277.00 to $307.00 and gave the company a “sell” rating in a research note on Friday, October 17th. UBS Group lifted their price objective on American Express from $330.00 to $340.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on American Express from $371.00 to $375.00 and gave the stock a “buy” rating in a report on Monday, July 21st. Eight analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $332.65.

Insider Buying and Selling

In other news, insider Denise Pickett sold 5,000 shares of the business’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 sale, the insider directly owned 7,726 shares in the company, valued at $2,709,739.98. The trade was a 39.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 112,272 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $329.86, for a total value of $37,034,041.92. Following the transaction, the chief executive officer directly owned 92,810 shares of the company’s stock, valued at approximately $30,614,306.60. This trade represents a 54.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 193,292 shares of company stock valued at $65,363,878. 0.20% of the stock is owned by corporate insiders.

American Express Trading Up 0.2%

Shares of NYSE:AXP traded up $0.70 during mid-day trading on Monday, reaching $357.88. The stock had a trading volume of 76,338 shares, compared to its average volume of 2,816,475. The firm has a 50 day simple moving average of $343.50 and a two-hundred day simple moving average of $318.27. American Express Company has a twelve month low of $220.43 and a twelve month high of $377.23. The firm has a market cap of $246.53 billion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 1.90 and a beta of 1.27. The company has a current ratio of 1.61, a quick ratio of 1.59 and a debt-to-equity ratio of 1.78.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share 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 company had revenue of $17.14 billion for the quarter, compared to analysts’ expectations of $18.03 billion. During the same period last year, the firm posted $3.49 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. On average, research analysts predict that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 0.9%. American Express’s payout ratio is presently 22.01%.

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.