Birmingham Capital Management Co. Inc. AL Sells 1,665 Shares of American Express Company $AXP

Birmingham Capital Management Co. Inc. AL reduced its position in shares of American Express Company (NYSE:AXP) by 10.8% in the second quarter, Holdings Channel reports. The firm owned 13,700 shares of the payment services company’s stock after selling 1,665 shares during the quarter. American Express accounts for 1.9% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its 18th biggest holding. Birmingham Capital Management Co. Inc. AL’s holdings in American Express were worth $4,370,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Calamos Wealth Management LLC boosted its holdings in shares of American Express by 3.0% during the 2nd quarter. Calamos Wealth Management LLC now owns 55,449 shares of the payment services company’s stock valued at $17,687,000 after acquiring an additional 1,597 shares during the last quarter. Cidel Asset Management Inc. boosted its holdings in shares of American Express by 4.0% during the 2nd quarter. Cidel Asset Management Inc. now owns 2,570 shares of the payment services company’s stock valued at $820,000 after acquiring an additional 99 shares during the last quarter. Salomon & Ludwin LLC boosted its holdings in shares of American Express by 42.0% during the 2nd quarter. Salomon & Ludwin LLC now owns 490 shares of the payment services company’s stock valued at $160,000 after acquiring an additional 145 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in shares of American Express by 29.1% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 6,470 shares of the payment services company’s stock valued at $1,997,000 after acquiring an additional 1,459 shares during the last quarter. Finally, Sigma Investment Counselors Inc. boosted its holdings in shares of American Express by 2.1% during the 2nd quarter. Sigma Investment Counselors Inc. now owns 3,376 shares of the payment services company’s stock valued at $1,077,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 84.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AXP. Truist Financial raised their price target on shares of American Express from $348.00 to $375.00 and gave the company a “buy” rating in a report on Monday, September 15th. Keefe, Bruyette & Woods raised their price objective on shares of American Express from $371.00 to $394.00 and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Barclays raised their price objective on shares of American Express from $297.00 to $336.00 and gave the stock a “cautious” rating in a report on Monday, October 6th. William Blair reissued an “outperform” rating on shares of American Express in a report on Wednesday, July 2nd. Finally, Evercore ISI raised their price objective on shares of American Express from $330.00 to $365.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $323.60.

American Express Price Performance

Shares of NYSE:AXP opened at $346.45 on Monday. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.71 and a quick ratio of 1.69. American Express Company has a 1-year low of $220.43 and a 1-year high of $349.19. The company has a market capitalization of $241.09 billion, a P/E ratio of 23.25, a P/E/G ratio of 1.81 and a beta of 1.29. The firm’s 50 day simple moving average is $325.64 and its two-hundred day simple moving average is $302.66.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 17th. The payment services company reported $4.14 earnings per share for the quarter, beating the consensus estimate of $3.98 by $0.16. American Express had a net margin of 14.97% and a return on equity of 33.41%. The business had revenue of $18.43 billion for the quarter, compared to the consensus estimate of $18.03 billion. During the same quarter in the previous year, the firm earned $3.49 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. American Express has set its FY 2025 guidance at 15.200-15.500 EPS. Research analysts expect that American Express Company will post 15.33 EPS for the current fiscal year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 10th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $3.28 annualized dividend and a yield of 0.9%. American Express’s payout ratio is currently 22.01%.

Insider Buying and Selling at American Express

In other news, insider Laureen Seeger sold 61,721 shares of American Express stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $297.47, for a total transaction of $18,360,145.87. Following the sale, the insider owned 9,001 shares in the company, valued at $2,677,527.47. This trade represents a 87.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 112,272 shares of American Express stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $329.86, for a total transaction of $37,034,041.92. Following the sale, the chief executive officer owned 92,810 shares in the company, valued at approximately $30,614,306.60. The trade was a 54.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,996 shares of company stock valued at $85,261,270. 0.20% of the stock is currently owned by company insiders.

American Express Company 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.