Western Wealth Management LLC Acquires 405 Shares of American Express Company $AXP

by · The Markets Daily

Western Wealth Management LLC grew its position in American Express Company (NYSE:AXP – Free Report) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,473 shares of the payment services company’s stock after purchasing an additional 405 shares during the period. Western Wealth Management LLC’s holdings in American Express were worth $2,703,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AXP. Nuveen LLC bought a new stake in shares of American Express in the first quarter worth about $1,454,667,000. Wellington Management Group LLP grew its position in shares of American Express by 13.7% in the 1st quarter. Wellington Management Group LLP now owns 18,025,562 shares of the payment services company’s stock valued at $4,849,777,000 after purchasing an additional 2,168,445 shares during the period. Geode Capital Management LLC increased its stake in American Express by 11.1% during the 2nd quarter. Geode Capital Management LLC now owns 13,487,316 shares of the payment services company’s stock worth $4,282,984,000 after purchasing an additional 1,349,746 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in American Express by 25.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,752,690 shares of the payment services company’s stock valued at $1,278,711,000 after buying an additional 965,221 shares in the last quarter. Finally, Provident Trust Co. lifted its position in American Express by 136.6% in the 2nd quarter. Provident Trust Co. now owns 1,108,971 shares of the payment services company’s stock valued at $353,740,000 after acquiring an additional 640,214 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AXP. Barclays lifted their price target on American Express from $336.00 to $355.00 and gave the stock an “equal weight” rating in a report on Monday, October 20th. BTIG Research lifted their target price on American Express from $277.00 to $307.00 and gave the stock a “sell” rating in a report on Friday, October 17th. Evercore ISI raised their target price on American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. DZ Bank raised American Express from a “sell” rating to a “hold” rating and set a $340.00 target price for the company in a research report on Tuesday, October 21st. Finally, Compass Point restated a “neutral” rating and issued a $324.00 target price on shares of American Express in a report on Monday, October 20th. Eight investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $332.65.

Read Our Latest Stock Analysis on American Express

American Express Stock Performance

NYSE:AXP opened at $357.23 on Monday. 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 Company has a 1-year low of $220.43 and a 1-year high of $377.23. The business has a 50 day moving average of $343.50 and a 200 day moving average of $318.27. The company has a market capitalization of $246.08 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.90 and a beta of 1.27.

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 $17.14 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. On average, sell-side analysts predict that American Express Company will post 15.33 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 10th. Shareholders of record on Friday, October 10th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Friday, October 10th. American Express’s payout ratio is 22.01%.

Insider Activity at American Express

In related news, CMO Elizabeth Rutledge sold 50,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer directly owned 85,577 shares in the company, valued at $30,825,691.17. The trade was a 36.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Denise Pickett sold 5,000 shares of American Express stock in a transaction that occurred on Wednesday, October 22nd. The stock was sold at an average price of $350.73, for a total transaction of $1,753,650.00. Following the completion of the sale, the insider directly owned 7,726 shares of the company’s stock, valued at approximately $2,709,739.98. This trade represents a 39.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 193,292 shares of company stock worth $65,363,878 in the last ninety days. 0.20% of the stock is currently owned by company insiders.

American Express Profile

(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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