Connecticut Wealth Management LLC Purchases 245 Shares of American Express (NYSE:AXP)

23 May 2025, 15:04 by Danessa Lincoln · The Markets Daily

Connecticut Wealth Management LLC increased its position in shares of American Express (NYSE:AXP) by 28.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,115 shares of the payment services company’s stock after acquiring an additional 245 shares during the period. Connecticut Wealth Management LLC’s holdings in American Express were worth $331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXP. Norges Bank bought a new stake in American Express during the 4th quarter worth approximately $1,785,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in American Express by 463.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,357,487 shares of the payment services company’s stock worth $1,293,259,000 after acquiring an additional 3,583,959 shares during the period. Capital Research Global Investors increased its holdings in American Express by 186.3% during the 4th quarter. Capital Research Global Investors now owns 2,986,710 shares of the payment services company’s stock worth $886,426,000 after acquiring an additional 1,943,463 shares during the period. Kovitz Investment Group Partners LLC increased its holdings in American Express by 346.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,021,873 shares of the payment services company’s stock worth $600,072,000 after acquiring an additional 1,568,747 shares during the period. Finally, Proficio Capital Partners LLC increased its holdings in American Express by 36,719.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,011,790 shares of the payment services company’s stock worth $300,289,000 after acquiring an additional 1,009,042 shares during the period. Institutional investors own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other news, Director Michael J. Angelakis purchased 3,700 shares of the company’s stock in a transaction on Friday, March 7th. The stock was acquired at an average price of $269.89 per share, with a total value of $998,593.00. Following the transaction, the director now directly owns 3,700 shares of the company’s stock, valued at approximately $998,593. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Glenda G. Mcneal sold 3,019 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $264.66, for a total transaction of $799,008.54. Following the completion of the sale, the insider now directly owns 10,919 shares of the company’s stock, valued at approximately $2,889,822.54. This represents a 21.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by corporate insiders.

American Express Price Performance

Shares of American Express stock opened at $287.09 on Friday. American Express has a 52-week low of $220.43 and a 52-week high of $326.28. The stock has a market capitalization of $201.13 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 1.41 and a beta of 1.23. The company has a fifty day moving average of $268.60 and a 200-day moving average of $288.58. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.57 and a current ratio of 1.58.

American Express (NYSE:AXP – Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The payment services company reported $3.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.47 by $0.17. The company had revenue of $16.97 billion during the quarter, compared to analysts’ expectations of $17.04 billion. American Express had a net margin of 15.36% and a return on equity of 32.65%. During the same quarter in the prior year, the company earned $3.33 EPS. Equities research analysts expect that American Express will post 15.33 EPS for the current year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 4th were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Friday, April 4th. This represents a $3.28 annualized dividend and a yield of 1.14%. This is a boost from American Express’s previous quarterly dividend of $0.70. American Express’s dividend payout ratio is presently 22.91%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AXP shares. Redburn Atlantic raised shares of American Express from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $270.00 to $255.00 in a report on Wednesday, April 23rd. Baird R W raised shares of American Express from a “strong sell” rating to a “hold” rating in a report on Friday, March 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $310.00 price target on shares of American Express in a report on Monday, April 21st. Bank of America raised shares of American Express from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $325.00 to $274.00 in a report on Friday, April 11th. Finally, Citigroup decreased their price target on shares of American Express from $320.00 to $300.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $295.05.

View Our Latest Stock Report on AXP

About American Express

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