Milestone Asset Management LLC Sells 13,041 Shares of American Express Company $AXP

by · The Cerbat Gem

Milestone Asset Management LLC cut its stake in American Express Company (NYSE:AXP) by 82.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,785 shares of the payment services company’s stock after selling 13,041 shares during the period. Milestone Asset Management LLC’s holdings in American Express were worth $889,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pointe Capital Management LLC bought a new position in American Express during the 2nd quarter valued at about $223,000. NewSquare Capital LLC grew its position in shares of American Express by 5.0% during the 2nd quarter. NewSquare Capital LLC now owns 19,921 shares of the payment services company’s stock worth $6,354,000 after buying an additional 957 shares during the period. Elyxium Wealth LLC boosted its stake in American Express by 5.4% during the 2nd quarter. Elyxium Wealth LLC now owns 3,414 shares of the payment services company’s stock worth $1,089,000 after acquiring an additional 176 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in American Express during the 2nd quarter worth approximately $213,000. Finally, Prosperity Consulting Group LLC lifted its stake in American Express by 1.1% in the second quarter. Prosperity Consulting Group LLC now owns 8,481 shares of the payment services company’s stock valued at $2,705,000 after buying an additional 94 shares in the last quarter. 84.33% of the stock is owned by institutional investors.

American Express Stock Up 0.2%

Shares of NYSE AXP opened at $361.47 on Tuesday. The business has a 50-day moving average of $336.56 and a 200-day moving average of $311.54. The firm has a market capitalization of $249.00 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 1.90 and a beta of 1.29. American Express Company has a 12 month low of $220.43 and a 12 month high of $365.75. 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 – Get Free Report) last released its quarterly earnings data on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, beating analysts’ consensus estimates of $3.98 by $0.16. American Express had a return on equity of 33.41% and a net margin of 14.97%.The firm had revenue of $18.43 billion during the quarter, compared to analyst estimates of $18.03 billion. During the same quarter in the prior 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. Sell-side analysts expect that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be issued a $0.82 dividend. The ex-dividend date of this dividend is 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 is currently 22.01%.

Analyst Ratings Changes

Several research firms have commented on AXP. Truist Financial upped their price objective on shares of American Express from $375.00 to $395.00 and gave the company a “buy” rating in a report on Monday, October 20th. Wall Street Zen raised shares of American Express from a “hold” rating to a “buy” rating in a report on Saturday. Compass Point reaffirmed a “neutral” rating and issued a $324.00 price objective on shares of American Express in a research note on Monday, October 20th. Barclays increased their target price 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 increased 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 note on Monday, September 29th. Nine investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, American Express has a consensus rating of “Hold” and an average price target of $332.65.

Get Our Latest Research Report on AXP

Insider Buying and Selling

In other news, insider Denise Pickett sold 5,000 shares of the firm’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 transaction, the insider owned 7,726 shares of the company’s stock, valued at $2,709,739.98. This trade represents a 39.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen J. Squeri sold 112,272 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 92,810 shares of the company’s stock, valued at $30,614,306.60. This represents a 54.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 160,290 shares of company stock valued at $52,364,898 in the last 90 days. Insiders own 0.20% of the company’s stock.

About American Express

(Free Report)

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.

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