American Express Company $AXP is Cacti Asset Management LLC’s Largest Position

Cacti Asset Management LLC decreased its holdings in shares of American Express Company (NYSE:AXP) by 0.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 412,826 shares of the payment services company’s stock after selling 600 shares during the quarter. American Express comprises 9.6% of Cacti Asset Management LLC’s holdings, making the stock its largest holding. Cacti Asset Management LLC’s holdings in American Express were worth $130,944,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Brighton Jones LLC boosted its stake in American Express by 24.4% during the fourth quarter. Brighton Jones LLC now owns 6,481 shares of the payment services company’s stock worth $1,924,000 after buying an additional 1,273 shares during the period. Bank Pictet & Cie Europe AG boosted its position in shares of American Express by 24.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,633 shares of the payment services company’s stock worth $781,000 after purchasing an additional 525 shares during the period. GHE LLC increased its holdings in American Express by 2.7% in the 4th quarter. GHE LLC now owns 17,021 shares of the payment services company’s stock valued at $5,052,000 after purchasing an additional 447 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in American Express in the fourth quarter valued at approximately $523,000. Finally, ProShare Advisors LLC lifted its stake in American Express by 29.0% during the fourth quarter. ProShare Advisors LLC now owns 267,445 shares of the payment services company’s stock worth $79,375,000 after purchasing an additional 60,066 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Insider Buying and Selling at American Express

In other news, Vice Chairman Douglas E. Buckminster sold 23,505 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $326.37, for a total value of $7,671,326.85. Following the transaction, the insider owned 123,613 shares in the company, valued at approximately $40,343,574.81. This represents a 15.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Glenda G. Mcneal sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $309.50, for a total value of $15,475,000.00. Following the sale, the insider owned 10,957 shares of the company’s stock, valued at approximately $3,391,191.50. The trade was a 82.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 269,996 shares of company stock worth $85,261,270. Corporate insiders own 0.20% of the company’s stock.

American Express Stock Down 1.2%

Shares of American Express stock opened at $325.48 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.61 and a debt-to-equity ratio of 1.80. American Express Company has a 52-week low of $220.43 and a 52-week high of $332.46. The company has a market capitalization of $226.50 billion, a P/E ratio of 22.84, a P/E/G ratio of 1.75 and a beta of 1.28. The company has a 50 day moving average of $313.29 and a 200 day moving average of $291.93.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 18th. The payment services company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.86 by $0.22. The business had revenue of $17.86 billion for the quarter, compared to analyst estimates of $17.70 billion. American Express had a net margin of 14.78% and a return on equity of 32.87%. The company’s revenue was up 9.3% on a year-over-year basis. During the same period last year, the business earned $3.49 EPS. As a group, research analysts forecast that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 8th. Stockholders of record on Thursday, July 3rd were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, July 3rd. American Express’s dividend payout ratio is currently 23.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AXP shares. William Blair reiterated an “outperform” rating on shares of American Express in a report on Wednesday, July 2nd. Royal Bank Of Canada reissued an “outperform” rating on shares of American Express in a research report on Monday, July 14th. Morgan Stanley lifted their price objective on shares of American Express from $250.00 to $311.00 and gave the company an “equal weight” rating in a report on Thursday, July 10th. Truist Financial increased their target price on shares of American Express from $335.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, July 9th. Finally, Citigroup reissued a “neutral” rating and issued a $327.00 price target (up previously from $300.00) on shares of American Express in a research report on Wednesday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $313.45.

American Express 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.